Business
NAV as at 30 June 2020 & Q3 Rental Income Update
NAV as at 30 June 2020 & Q3 Rental Income Update.
About this update from Abrdn European Logistics Income Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1261X\n Aberdeen Standard Eur Lgstc Inc PLC\n 25 August 2020\n \n \n \n \n Aberdeen Standard European Logistics Income PLC\n \n \n \n \n \n LEI: 213800I9IYIKKNRT3G50\n \n \n \n \n \n Investor demand for logistics real estate in Europe expected to remain strong\n \n \n \n \n \n Unaudited Net Asset Value as at 30 June 2020 and Q3 rental income update\n \n \n \n \n \n 25 August 2020: \n Aberdeen Standard European Logistics Income PLC\n (LSE: ASLI) (the \"Company\" or \"ASLI\") announces its unaudited quarterly Net Asset Value (\"NAV\") as at 30 June 2020 and provides an update on Q3 2020 rental income collection.\n \n \n \n \n \n Highlights\n \n \n \n \n \n · \n NAV per Ordinary Share of 112.8c (GBp - 103.0p) as at 30 June 2020 (31 March 2020: 112.7c (GBp - 99.92p)). Exchange rate £1 : €1.10 (31 March 2020: £1 : €1.13).\n \n \n \n \n \n · \n Resilient portfolio of assets with latest portfolio capital valuation unchanged from 31 March 2020. The Company's high-quality, well located and diversified European logistics portfolio of 14 assets remained valued at €404.9 million as at 30 June 2020.\n \n \n \n \n \n · \n Rent collection remains strong with Q3 rental income expected to be in line with our previous projections, allowing the Board to reaffirm its intention to continue to pay distributions in line with its stated policy.\n \n \n \n \n \n · \n A first interim distribution of 1.24 pence per Ordinary share in respect of the year ending 31 December 2020 was paid on 26 June 2020.\n \n \n \n \n \n · \n A second interim distribution of 1.24 pence per Ordinary share in respect of the year ending 31 December 2020 declared on 25 August 2020.\n \n \n \n \n \n At the valuation date of 30 June 2020 the independent valuer's report from CBRE had removed the \"material uncertainty\" relating to property valuations that was in place as at 31 March 2020.\n \n \n \n \n \n \n \n \n Breakdown of NAV movement\n \n \n \n \n \n Set out below is a breakdown of the change to the unaudited net asset value per Ordinary Share over the period from 1 April 2020 to 30 June 2020. The unaudited net asset value has been prepared under International Financial Reporting Standards (\"IFRS\").\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Per...