RDI - Aviva financing facility

Further to the announcement on 8 April 2019 in respect of the Aviva Shopping Centre facility, a standstill period has been agreed to 11 October 2019, during which time Aviva has confirmed that it will not take any action to accelerate its security under the facility agreement (the "Standstill Agreement"). RDI and Aviva have agreed to progress a consensual sales process or restructuring of the facility during this standstill period. Notwithstanding the Standstill Agreement, Aviva will retain all of its rights under the facility agreement.

As previously announced, all net operating cashflows after interest costs of approximately GBP6.5 million (on an annualised basis) will be retained within the facility. The facility is non-recourse to the Company and RDI will not be required to provide further cash in respect of this facility during the period of the Standstill Agreement. Occupancy across the portfolio is 94.5%.

Further details relating to the current position of the Aviva Shopping Centre facility and the impact on the Company's financial position will be provided in the Company's half year results to be released on Thursday, 25 April 2019.

2019-04-24 08:26:31