AEW UK REIT PLC AEW UK REIT plc: Result of legal proceedings

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23/04/2021 08:00

AEW UK REIT plc (AEWU)
AEW UK REIT plc: Result of legal proceedings

23-Apr-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

23 April 2021

AEW UK REIT Plc (the "Company")

Result of legal proceedings

AEW UK REIT plc (LSE: AEWU) (the "Company") is pleased to announce the successful outcome of its legal action against two well-funded national tenants to recover unpaid rent. The court ruled in the Company's favour and ordered that rent due for the periods claimed must be paid.

The total amount to be recovered pursuant to the legal action is £602,489. In addition, the Company will be writing to the tenants to claim the outstanding rent arrears that have fallen due for payment since the claims were issued and are confident of further recovery given the outcome of its successful application to the court.

It is also the Company's intention to seek to recover its legal fees incurred in the litigation from the tenants.

The combined total of the amount already claimed and the outstanding rent arrears that have fallen due for payment since the claims commenced is £1,200,566, including VAT. Of this amount, £924,530 relates to the period up to 31 March 2021, 56% (£520,919) of which has been provided for as at that date.

The expected receipt of the outstanding amounts that have previously been provided for will contribute to the Company's EPRA EPS.

AEWU has always made it clear that it will take legal action against tenants if required, particularly well-resourced companies that it believes are able to pay their rent and have sought to take advantage of government legislation intended to protect financially vulnerable tenants. Both tenants have a limited time period during which they may submit an appeal.

ENDS

Enquiries
AEW UK
Alex Short	alex.short@eu.aew.com
	+44(0) 20 7016 4848
Henry Butt	henry.butt@eu.aew.com +44(0) 20 7016 4855
Nicki Gladstone	nicki.gladstone-ext@eu.aew.com
	+44(0) 7711 401 021
Company Secretary
Link Company Matters Limited	aewu.cosec@linkgroup.co.uk
	+44(0) 1392 477 500

TB Cardew	AEW@tbcardew.com
Ed Orlebar Tania Wild	+44 (0) 7738 724 630 +44 (0) 7425 536 903
Lucas Bramwell	+44 (0) 7939 694 437

Liberum Capital
Gillian Martin / Owen Matthews	+44 (0) 20 3100 2000

LEI: 21380073LDXHV2LP5K50


ISIN:	GB00BWD24154
Category Code:	MSCM
TIDM:	AEWU
LEI Code:	21380073LDXHV2LP5K50
Sequence No.:	100619
EQS News ID:	1187871


End of Announcement	EQS News Service

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