July 30 (Reuters) – Spain’s Merlin Properties: * CEO ISMAEL CLEMENTE SAYS WILL HAVE NEW PARTIAL RELIEF POLICY AVAILABLE FOR TENANTS TO COVER POST-COVID19 TRADING PERIOD * WE ESTIMATE TOTAL EFFECT OF NEW PARTIAL RELIEF POLICY AND EVENTUAL MORATORIA FOR OFFICE/LOGISTICS CLIENTS AT 65-70 MILLION EUROS IN 2020 * NEW POST-COVID PARTIAL RELIEF POLICY COULD AFFECT 12.5%-13.5% OF OUR GROSS RENT * BOARD OF DIRECTORS WILL REDUCE TOTAL COMPENSATION BY 25% IN 2020, SAVING AROUND 11 MILLION EUROS AND SOFTENING FINANCIAL CONSEQUENCES OF DRAWDOWN * CIO DAVID BRUSH SAYS WILL ONLY CONSIDER BUYBACKS IF THERE IS EXCESS CASH, BUT COULD BE AN OPTION AS SHARE IS TRADING AT A DISCOUNT * WILL SET HIGH ROI THRESHOLD FOR ANY NEW CAPITAL PROJECTS, GIVEN CURRENT SHARE PRICE Source text for Eikon: Further company coverage: [ ] (Reporting by Madrid Newsroom)
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