March 23, 2020 / 2:14 PM / 6 days ago

BRIEF-Hornigold Reit Suspends Rental Of Apartments Due To Coronavirus

March 23 (Reuters) - Hornigold Reit SA:

* SAID ON FRIDAY THAT DUE TO CORONAVIRUS OUTBREAK IT HAS TEMPORARILY SUSPENDED THE RENTAL OF APARTMENTS, WHICH WILL IMPACT COMPANY’S FINANCIAL RESULTS

* SAID THAT DUE TO THE FACT THAT CERTAIN WHOLESALERS AND SPECIALIST STORES HAVE SUSPENDED THEIR OPERATIONS THE COMPANY HAS LIMITED ACCESS TO MATERIALS AND AT PRESENT USES ITS WAREHOUSE RESOURCES

* IF THE SITUATION DOES NOT STABILISE, THERE MAY BE SIGNIFICANT DELAYS IN REALISATION OF INDIVIDUAL INVESTMENTS AND THE STANDARD OF THE SERVICES OFFERED MAY BE LOWER, WHICH WILL ALSO IMPACT THE RESULTS OF FUTURE QUARTERS

* AT PRESENT RENOVATION AND CONSTRUCTION TEAMS ARE WORKING WITHOUT DISRUPTIONS, HOWEVER, SHOULD THE EPIDEMIC SITUATION WORSEN, THE COMPANY DOES NOT EXCLUDE SUSPENSION OF WORKS

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Further company coverage: (Gdansk Newsroom)

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