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NEPI ROCKCASTLE PLC - Signature of non-binding letter of intent with regard to the disposal of an office portfolio

Release Date: 16/07/2019 08:00
Code(s): NRP     PDF:  
 
Wrap Text
Signature of non-binding letter of intent with regard to the disposal of an office portfolio

NEPI Rockcastle plc
Incorporated and registered in the Isle of Man
Registered number 014178V
Share code: NRP
ISIN: IM00BDD7WV31
("NEPI Rockcastle" or "the Company")


SIGNATURE OF NON-BINDING LETTER OF INTENT WITH REGARD TO THE DISPOSAL OF AN OFFICE PORTFOLIO


Shareholders are referred to the Company's business update published on 24 May 2019, wherein NEPI
Rockcastle advised, inter alia, that the Company had initiated an open tender process for the sale of its
Romanian office portfolio in order to focus on its investment strategy, being core dominant retail
properties. Shareholders are advised that NEPI Rockcastle has signed a non-binding letter of intent
("letter of intent") with AFI Europe NV ("AFI Europe"), a wholly-owned subsidiary of Africa Israel
Properties Limited. In terms of the letter of intent, the Company has today granted AFI Europe
exclusivity with regard to conducting a due diligence exercise in respect of four type A office buildings
with a book value of EUR309.2 million at 31 December 2018 forming part of NEPI Rockcastle's
Romanian office portfolio, for a period of eight weeks from the date of signature of the letter of intent.

The letter of intent is non-binding in nature and any transaction would be subject to completion of a sale
and purchase agreement and the fulfilment of numerous conditions, including receipt of bank financing
and regulatory and shareholder approvals to the extent required. Shareholders will be kept informed of
progress in this regard.

For further information please contact:

NEPI Rockcastle plc
Alex Morar                                                   + 40 21 232 1398

JSE sponsor
Java Capital                                                 +27 11 722 3050

Euronext Listing Agent
ING Bank                                                     +31 20 563 6799

Media Relations
Brunswick Group                                              +44 20 7404 5959
                                                             +27 11 502 7300
                                                             nepirockcastle@brunswickgroup.com
16 July 2019

Date: 16/07/2019 08:00:00
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