Update on impact of Covid-19 on Lighthouse's European property assets
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”)
UPDATE ON IMPACT OF COVID-19 ON LIGHTHOUSE’S EUROPEAN PROPERTY ASSETS
Following the spread of the coronavirus, a number of European governments have issued various decrees and
directives aimed at protecting the health and safety of their citizens, and curbing the rate of transmission of the
disease. Some non-essential stores have been closed and trading hours have been limited.
On 15 March 2020, the Slovenian government issued a decree closing all non-essential stores in Slovenia, where one
of the shopping centres owned by Lighthouse, Planet Koper, is located. At this stage, no indication has been given
as to when the decree will be retracted.
Forum Coimbra, Lighthouse’s Portuguese asset, is still trading, albeit under government restrictions. The shopping
centre footfall has reduced significantly and several stores have temporarily ceased operations.
All negotiations with regard to potential further acquisitions of retail properties in Italy and Spain have been
suspended. The proceeds from the Forum Viseu sale have been received. Given the Company’s strong balance
sheet, low gearing and strong liquidity, Lighthouse has the ability to navigate through this challenging period and is
well positioned to acquire assets in the future that meet its investment strategy.
At present, the duration of the pandemic is unknown, and therefore it is not possible to ascertain the effect of the
shopping centre closures and reductions in footfall on the contractual obligations of tenants or the Company’s
earnings going forward. Further updates will be provided as and when new information comes to light.
By order of the Board
16 March 2020
This notice is issued pursuant to 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: 16-03-2020 02:10:00
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