26th Oct 2020 16:01
Yew Grove REIT PLC - real estate investment trust focused on Irish commercial property - The Office of the Revenue Commissioners, an Irish government agency, proves "agreeable to" an extension of Yew Grove's deadline to have its shares listed on a main market of an EU member state stock exchange. Company currently quoted on London's AIM market and on the Euronext Growth Market in Dublin. However, Irish tax provisions require that REITs list their shares on an EU member state main market three years after electing for REIT status. Yew Grove has approached the Revenue to discuss a deadline extension to May 31, 2022 to manage the "additional commitments before it" as the company "will be required to mitigate a combination of factors, including the effects of the on-going pandemic, continue essential property and asset management and migrate its shares from CREST to Euroclear Bank." The Revenue confirms that, given the REIT's current circumstances, "it is agreeable to such an extension".
Current stock price: EUR0.86
Year-to-date change: down 12%
By Anna Farley; [email protected]
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