February 14, 2018 / 5:48 PM / 6 months ago

BRIEF-Vastned Retail 2017 Direct Result At EUR 2.22 Per Share

Feb 14 (Reuters) - VASTNED RETAIL NV:

* 2017 OCCUPANCY RATE OF TOTAL PORTFOLIO UP TO 98.1% (CORE CITY ASSETS: 99.6%)

* FY LIKE-FOR-LIKE GROSS RENTAL GROWTH OF 1.3% FOR THE FULL PORTFOLIO‍​

* SEES EXPECTED 2018 DIRECT RESULT: € 2.10 - € 2.20 PER SHARE‍​

* VASTNED INTENDS TO MAKE TAKEOVER BID OF € 57.50 PER SHARE FOR ALL VASTNED RETAIL BELGIUM SHARES IT DOES NOT YET HOLD

* PORTFOLIO SHRANK IN 2018 COMPARED TO 2017

* OCCUPANCY RATE FOR THE TOTAL PORTFOLIO TO 98.1% AT YEAR-END 2017

* FY 2017 LOAN-TO-VALUE RATIO AT 38.8%

* PORTFOLIO SHRINK WILL HAVE A NEGATIVE EFFECT ON THE GROSS RENTAL INCOME IN 2018

* GROSS RENTAL INCOME WAS € 77.5 MILLION IN 2017 COMPARED TO € 81.3 MILLION IN 2016

* 2017 DIRECT RESULT HIGHER THAN EXPECTED AT € 2.22 PER SHARE

* DECLARED A DIVIDEND FOR THE 2016 FINANCIAL YEAR OF € 2.05 PER SHARE

* WILL PROPOSE TO DECLARE A DIVIDEND FOR THE 2017 FINANCIAL YEAR OF € 2.05 PER SHARE‍​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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