22 March 2021
CLS Holdings plc (“CLS”, the “Company”) - Coronavirus update
In this unprecedented situation, the safety and wellbeing of CLS staff, tenants and customers is our priority. We remain committed to working with our tenants during this difficult time, and our contingency planning is in place and working well to ensure business continuity.
In light of the ongoing situation, we believe the CLS’ business remains resilient:
- As at the start of 2021, across our 97 properties, we have c.740 tenants who are well diversified in terms of size and sectors.
- Rent collection remained strong in 2020 with 99% collected (2019: 98%) and 98% of first quarter 2021 contracted rent due now collected.
- Portfolio valuation was up 1.4% in local currency, largely driven by Germany up 8.6% through positive letting activity and other asset management with France up 0.3% and the UK down 2.6%.
- We completed 116 lease deals securing £13.6 million of annual rent at 8.2% above 31 December 2019 estimated rental values.
- We secured our first ‘green’ loan over 12 UK properties for £154.0 million at 2.62% fixed interest rate, split equally between 10- year and 12-year tranches. This transaction also significantly contributed to the increase in weighted average debt maturity to 4.6 years (2019: 3.5 years)
- Our balance sheet continues to be strong and well capitalised.
- Our strategy remains clear and we are well placed for the future.
On behalf of CLS, we thank you for your continued support.
Yours faithfully
David Fuller FCIS
Company Secretary