March 24, 2020 / 10:13 AM / 16 days ago

BRIEF-Aventus Group Withdraws FY20 Guidance

March 24 (Reuters) - Aventus Group:

* DISTRIBUTION ANNOUNCEMENT AND WITHDRAWAL OF FY20 GUIDANCE

* AVN HAS ALSO SUSPENDED DISTRIBUTION REINVESTMENT PLAN UNTIL FURTHER NOTICE

* GROUP WILL ASSESS JUNE 2020 QUARTER DISTRIBUTION AT END OF FINANCIAL YEAR

* OPERATING PERFORMANCE OF PORTFOLIO UP TO ESCALATION OF COVID-19 PANDEMIC HAS BEEN “SOLID”

* BALANCE SHEET REMAINS ROBUST WITH NO DEBT EXPIRING BEFORE MAY 2022 AND OVER $100 MILLION OF CASH AND UNDRAWN FACILITIES AVAILABLE

* ADOPTED A CONSERVATIVE APPROACH FOR MARCH 2020 QUARTER DISTRIBUTION

* FOR MARCH 2020 QUARTER, DECLARING A DISTRIBUTION EQUIVALENT TO 25% OF DISTRIBUTIONS PAID LAST QUARTER Source text for Eikon: Further company coverage:

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