Measures implemented in the face of the COVID-19 situation
Press release
Measures implemented in the face of the COVID-19 situation
Paris, 30 March 2020: MRM (Euronext code ISIN FR0000060196), a real estate investment company specialising in retail property, announces today the measures implemented within the context of the COVID-19 epidemic.
In accordance with current regulations in France regarding retail trading aiming at stopping the virus from spreading, only retailers selling first necessity products remain open to the public within MRM’s portfolio.
In line with Conseil National des Centres Commerciaux recommendations and in order to support tenants that have had to close their stores pursuant to the ministerial decrees of 14 and 15 March 2020 concerning various measures aiming at stopping the spread of the COVID-19 epidemic, MRM has suspended collection of April 2020 rents and service charges and informed them of the option of paying their rents and service charges for the second quarter of 2020 on a monthly basis. These measures aim to help retailers and independent shops facing a difficult cash position in the current circumstances.
For tenants that have kept trading but had their business severely impacted by the crisis, their situation will be considered on a case-by-case basis.
Furthermore, while maintaining the necessary means to ensure people’s safety and assets protection, MRM has taken steps to reduce its property expenses during this period.
With these measures, MRM intends to play its part in the efforts asked to everyone to limit the duration and the impact of the COVID-19 crisis.
Valentin shopping centre extension works have been stopped and the company will revise its completion schedule once the situation is back to normal.
The company is monitoring how this unprecedented situation develops on a daily basis and, if required, will take further appropriate measures.
Calendar
Revenues for the first quarter of 2020 are due on 7 May 2020 before market opening.
About MRM
MRM is a listed real estate investment company that owns and manages a portfolio of retail properties across several regions of France. Its majority shareholder is SCOR SE, which owns 59.9% of share capital. MRM is listed in Compartment C of Euronext Paris (ISIN: FR0000060196 - Bloomberg code: MRM:FP – Reuters code: MRM.PA). MRM opted for SIIC status on 1 January 2008.
For more information:
| MRM 5, avenue Kléber 75795 Paris Cedex 16 France T +33 (0)1 58 44 70 00 | Isabelle Laurent, OPRG Financial T +33 (0)1 53 32 61 51 M +33 (0)6 42 37 54 17 |
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