Invesco Prop Inc Discussions with lending bank and suspension of listing


 
TIDMIPI 
 
Invesco Property Income Trust Limited 
 
            Discussions with lending bank and suspension of listing 
 
As previously disclosed, the Directors do not expect the Company to have 
realised its property assets in time to meet the repayment date of 28 September 
2014 under its borrowing facility, or to be able to meet in full the amounts 
due. The Directors and Investment Manager have been in discussions with the 
lending bank for some time to address this situation and to secure funding for 
the Group beyond 28 September 2014. 
 
The outcome of these discussions with the lending bank is summarised as 
follows: 
 
  * The lending bank has indicated its intention to grant a three-month 
    extension to the facility beyond 28 September 2014; 
 
  * In consequence, the Board and Investment Manager have no option but to 
    accelerate its disposal programme so as to seek purchasers immediately for 
    all the group's remaining assets; and 
 
  * The Board and Investment Manager will work with the lending bank and its 
    advisers in marketing the remaining property assets. 
 
It is not expected that the lending bank will be repaid in full from the 
proceeds of the sale of the remaining assets, or that any amounts due to 
Invesco Limited under its loan facility will be paid. The lending bank has 
agreed that provision can be made for the Group to meet its liabilities to 
existing trade and other creditors and any further liabilities and obligations 
incurred during the remaining disposal programme and in the winding up of the 
Company and its subsidiaries. 
 
These conclusions to the discussions make it, in the Directors' opinion, 
virtually certain that there will be no return for shareholders on completion 
of the Company's winding up. The Directors accordingly have agreed with the UK 
Listing Authority and the Channel Islands Securities Exchange Ltd that the 
listing of the Company's shares will be suspended with effect from 6.00 p.m. 
this evening. 
 
The discussions with the lending bank have delayed finalisation of the 
Company's Annual Financial Report for the year ended 31 March 2014. The 
financial statements will be published in due course following Board approval. 
 
28 July 2014 
 
Enquiries: 
 
Invesco Asset Management 
Angus Pottinger 020 3753 1000 
Rory Morrison 020 7543 3500 
 
 
 
END

Invesco Uk Property Income Trust (LSE:IPI)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024