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Covid-19 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 UPDATE
Shareholders are advised that on 6 November 2020 the Polish government signed a decree in terms of which the operations
of all Polish shopping centres and retail locations measuring over 2,000 sqm of retail space will be temporarily limited
between 7 November and 29 November 2020. In comparison to the lockdown in March and April this year, the trading
restrictions apply to a lower number of stores. Grocers, DIY stores, pharmacies, medical stores, cosmetics shops, pet stores,
outlets selling books or newspapers, telecommunication stores and services will all be able to continue trading. Stores which
are physically allowed to open constitute approximately 27% of EPP’s retail portfolio in terms of GLA. Additionally,
restaurants will be allowed to operate on a takeaway and delivery basis and this constitutes an additional 3% in terms of
GLA.
The Board believes that the company is well capitalised to navigate through this period, as evidenced by its most recent
results, which demonstrated a healthy interest cover, ample headroom in LTV covenant levels and a robust recovery in its
operational results since the reopening of shopping centres. Additionally, the company believes that the Polish government
has decided to close parts of shopping centres, alongside cinemas, theatres, museums and schools, in order to flatten the
infection rate in Poland and ought to be able to re-open the closed sectors at the end of November 2020. Should this policy
succeed, the lockdown is likely to be materially shorter than the one in March and April.
EPP will continue to monitor the situation and will communicate updates to the market.
9 November 2020
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: 09-11-2020 08:00:00
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