BRIEF-Indluplace Properties Ltd Sees Occupancy Levels To Improve Over Next Few Months

  • Reuters
  • Stock Market News
BRIEF-Indluplace Properties Ltd Sees Occupancy Levels To Improve Over Next Few Months
Credit: © Reuters.

Sept 17 (Reuters) - Indluplace Properties Ltd ILUJ.J :

* INDLUPLACE PROPERTIES LTD - COLLECTIONS HAVE IMPROVED EVERY MONTH SINCE LOCKDOWN WAS INTRODUCED IN MARCH 2020

* INDLUPLACE PROPERTIES LTD - INDLUPLACE'S TOTAL DISTRIBUTABLE INCOME FOR 2020 FINANCIAL YEAR IS EXPECTED TO BE APPROXIMATELY R160 MILLION

* INDLUPLACE PROPERTIES LTD - COLLECTIONS FOR AUGUST 2020 BEING 90% FOR PORTFOLIO

* INDLUPLACE PROPERTIES LTD - AVERAGE RESIDENTIAL COLLECTIONS FOR PERIOD APRIL TO 31 AUGUST 2020 WERE 88%

* INDLUPLACE PROPERTIES LTD - NORMAL CREDIT CONTROL MEASURES HAVE RESUMED, AND DEBTORS LEGAL PROCESS HAS YIELDED POSITIVE RESULTS.

* INDLUPLACE PROPERTIES - TALKS WITH BANKERS TO REFINANCE R200 MILLION FACILITY MATURING AT END OF SEPT, R732 MILLION MATURING IN APRIL AT ADVANCED STAGE

* INDLUPLACE PROPERTIES LTD - PROPERTY PORTFOLIO VALUATION PROCESS IS UNDERWAY

* INDLUPLACE PROPERTIES LTD - EXPECT OCCUPANCY LEVELS TO IMPROVE OVER NEXT FEW MONTHS.

* INDLUPLACE PROPERTIES - EXPECT PROPERTY VALUATIONS TO RESULT IN DECREASE IN VALUE OF PROPERTY PORTFOLIO

* INDLUPLACE PROPERTIES LTD - TALKS WITH BANKERS TO REFINANCE R200 MILLION FACILITY , R732 MILLION MATURING IN APRIL 2021 ARE AT AN ADVANCED STAGE

* INDLUPLACE PROPERTIES - LOAN-TO-VALUE RATIO (LTV) WILL INCREASE AND REMAIN BELOW 38%, WHICH IS WITHIN BANK LOAN COVENANT

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