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COVID-19 lease legislation update
EPP N.V.
(Incorporated in The Netherlands)
(Company number 64965945)
JSE share code: EPP
ISIN: NL0011983374
LEI code: 7245003P7O9N5BN8C098
(“EPP” or “the company”)
COVID-19 LEASE LEGISLATION UPDATE
Shareholders are referred to the pre-close update released on SENS and published on the Luxembourg Stock Exchange on
22 June 2021 wherein EPP, inter alia, indicated that a new law regarding the rental payments during lockdown periods as
well as amendments to the current legislation regarding the length of lease extensions after a lockdown were being
considered by the Polish parliament.
The new law regarding the payment of rent during lockdown period has now been legislated and comes into force on
23 July 2021. Tenants will be required to make 20% of the rental payments during lockdown periods and 50% of the rental
payments for three months after the lockdown has ended. The new law will apply to potential future lockdowns.
Additionally, the current lease legislation has been amended to remove the obligation to extend the leases in exchange for
allowing tenants not to pay the rent and service charge during lockdowns. The lease extension requirement will apply only
to the first lockdown which took place from 14 March 2020 to 3 May 2020. With respect to the subsequent three lockdowns,
the tenants will have the right to avoid the lease extensions provided that they submit appropriate statements to the
landlords within 14 days from the entry into force of the new law. At this stage, the company anticipates that this
amendment will reduce the length of the leases currently in place.
The company will provide further feedback regarding the potential impact of these legal changes in August 2021 once
tenants have responded to the new law.
Currently 100% of EPP’s GLA is operational, and all its shopping centres are trading. Notably, Poland’s vaccination
programme continues to progress well and as of today, almost 30 million COVID-19 vaccine doses were administered.
Encouragingly, the 14-day notification rate of new COVID-19 infections is at one of the lowest levels in the European
Union with 5 new cases per 100,000 inhabitants as of 1 July 2021 and steadily decreasing.
EPP’s financial closed period commenced on 1 July 2021 and the company expects to publish its results for the six-month
period ended 30 June 2021 in September 2021.
2 July 2021
JSE Sponsor
Java Capital
Luxembourg Stock Exchange Listing Agent
Harneys Luxembourg
For more information:
Curwin Rittles, Investor Relations, EPP
Mobile: +48 885 982 310
Curwin.rittles@epp-poland.com
Java Capital, JSE Sponsor
Phone: +27 11 722 3050
Harneys Luxembourg, Luxembourg Stock Exchange Listing Agent
Phone: +352 27 86 71 02
Singular Systems IR
Michèle Mackey
+27 (0)10 003 0700/+27 (0)82 497 9827
michele@singular.co.za
Date: 02-07-2021 05:20:00
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