LIGHTHOUSE CAPITAL LIMITED - Operational update and change in reporting periods and distribution cycle2020/06/30 11:30:00
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Operational update and change in reporting periods and distribution cycle LIGHTHOUSE CAPITAL LIMITED (Incorporated in the Republic of Mauritius on 14 August 2014) (Registration number: C124756 C1/GBL) SEM share code: GFP.N0000 JSE share code: LTE ISIN: MU0461N00015 LEI: 549300UG27SWRF0X2U62 (“Lighthouse” or the “Company”) OPERATIONAL UPDATE AND CHANGE IN REPORTING PERIODS AND DISTRIBUTION CYCLE OPERATIONAL UPDATE Forum Coimbra - Portugal - In line with the Portuguese easement of lockdowns, the majority of tenants reopened on 18 May 2020 after having closed on 22 March 2020. - Tenants occupying 87% of the mall’s GLA are currently open and trading. - The cinema complex, occupying 7.7% of the GLA, is expected to reopen on 2 July 2020. - A new gym that will occupy 2.4% of the GLA will open after completion of construction in October 2020. - Currently 78% of the rentals for the quarter ending June 2020 have been collected. Planet Koper - Slovenia - In line with the Slovenian easement of lockdowns, the majority of tenants reopened on 18 May 2020 after having closed on 15 March 2020. - Tenants occupying 88% of the mall’s GLA are currently open and trading. - The cinema complex which represents 9.8% of the GLA is anticipated to reopen in August 2020. - Currently 70% of the rentals for the quarter ending June 2020 have been collected. - The remainder of the refurbishment project was completed in June 2020. Engagements with tenants regarding relief for the lockdown period are ongoing. Relief takes the form of rental deferrals or fixed discounts on the rental component for the lockdown period, with relevant service charges remaining payable in full. CHANGE IN REPORTING PERIODS Shareholders of Lighthouse are hereby informed that the Company has changed its financial year-end from 30 September to 31 December, with immediate effect. Following the publication of the unaudited June 2020 interim results, in order to comply with the Johannesburg Stock Exchange (“JSE”) Listings Requirements, the Listing Rules of the Stock Exchange of Mauritius Ltd (“SEM”) and the relevant regulatory requirements, the Company will publish the following: - reviewed summarised results for the 12 months ending 30 September 2020; - audited results for the 15 months ending 31 December 2020; - an integrated annual report and notice of the annual general meeting of shareholders (including audited financial statements for the 15 months ending 31 December 2020); and - audited results for the year ending 31 December 2021. CHANGE IN DISTRIBUTION CYCLE The Board intends to continue paying distributions covered by distributable cash flows, on a semi-annual basis in respect of the periods ending 30 June and 31 December each year. The change in financial year-end to 31 December will result in the following distribution cycles: - for the 6 months ended 31 March 2020 (declared and paid); - for the 3 months ending 30 June 2020; and - for the 6 months ending 31 December 2020. Lighthouse has primary listings on both the Official Market of the SEM and the Main Board of the JSE. By order of the Board 30 June 2020 This notice is issued pursuant to the JSE Listings Requirements, SEM Listing Rule 11.3 and Rule 5(1) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007. The Board accepts full responsibility for the accuracy of the information in this announcement. SEM authorised representative JSE sponsor and sponsor Company Secretary Java Capital Perigeum Capital Intercontinental Trust Ltd Tel: +27 11 722 3050 Tel: +230 402 0890 Tel: +230 403 0800 Date: 30-06-2020 11:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.