19.03.2020, 4278 Zeichen

Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.
Company Information
St Helier Jersey / Channel Islands - UPDATE ON GOVERNMENT IMPOSED RESTRICTIONS TO TRADING IN ATRIUM'S GEOGRAPHIES AS RESULT OF THE COVID-19 VIRUS
Jersey, 19 March 2020, Atrium European Real Estate Limited (VSE/ Euronext: ATRS) ("Atrium" or the "Company" and together with its subsidiaries, the "Atrium Group"), a leading owner, operator and redeveloper of shopping centres and retail real estate in Central Europe, makes the following statement to update shareholders on recent government announcements in response to the COVID-19 virus within the Company's operational jurisdictions.
Over the last week, shopping centres within Poland, the Czech Republic and Slovakia have faced government imposed trading restrictions. In all three countries the restrictions exclude grocery stores/supermarkets, pharmacists/ drugstores and other necessity services. As of yesterday, Russia also announced its first internal restrictions in some cities which include banning all outdoor events and limiting indoor gatherings to 50 people. We are continuing to monitor announcements by the authorities in all our areas of operation.
Since the onset of the crisis in February 2020, we have been working closely with our tenants, staff and local health authorities in order to implement a number of preventative measures to contain the virus and minimise its impact on our consumers. The health and safety of our customers, tenants and staff, remains our overriding priority.
At present, it is too early to ascertain the full impact these recent government orders, or the COVID-19 pandemic itself, will have on either the Company's business and financial position, or that of its tenants. Atrium is in discussion with its tenants about a joint approach to addressing the challenges that COVID- 19 is presenting. At the same time, the Company is also actively prioritising its capex programme to defer non-essential capital expenditure, and, in parallel, reducing its operational expenses in response to these new measures.
With a strong balance sheet, a net LTV of 35% and access to credit facilities, the Company believes it has sufficient resources to manage its liquidity needs.
Atrium is carefully monitoring the situation and will provide further updates as needed.
For further information: FTI Consulting Inc.: +44 (0)20 3727 1000 Richard Sunderland/Claire Turvey/Ellie Sweeney: atrium@fticonsulting.com
About Atrium European Real Estate Atrium is a leading owner, operator and redeveloper of shopping centres and retail real estate in Central Europe. Atrium specializes in locally dominant food, fashion and entertainment shopping centres in the best urban locations. Atrium owns 26 properties with a total gross leasable area of over 809,000 sqm and with a total market value of approximately EUR2.6 billion. These properties are located in Poland, the Czech Republic, Slovakia and Russia, and with the exception of one, are all managed by Atrium's internal team of retail real estate professionals.
The Company is established as a closed-end investment company incorporated and domiciled in Jersey and regulated by the Jersey Financial Services Commission as a certified Jersey listed fund, and is listed on both the Vienna Stock Exchange and the Euronext Amsterdam Stock Exchange. Appropriate professional advice should be sought in the case of any uncertainty as to the scope of the regulatory requirements that apply by reason of the above regulation and listings. All investments are subject to risk. Past performance is no guarantee of future returns. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results.
end of announcement euro adhoc
issuer: Atrium European Real Estate Limited Seaton Place 11-15 UK-JE4 0QH St Helier Jersey / Channel Islands phone: +44 (0)20 7831 3113 FAX: mail: richard.sunderland@fticonsulting.com WWW: http://www.aere.com ISIN: JE00B3DCF752 indexes: stockmarkets: Luxembourg Stock Exchange, Wien language: English
Digital press kit: http://www.ots.at/pressemappe/2915/aom

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