March 18, 2020 / 8:55 AM / in 10 days

BRIEF-Echo Investment Says Activity and Results May Be Affected By Coronavirus Spread

March 18 (Reuters) - Echo Investment SA:

* SAID ON TUESDAY THAT THE CORONAVIRUS SPREAD AND RESTRICTIONS IMPOSED BY AUTHORITIES AS A RESULT MAY SIGNIFICANTLY IMPACT COMPANY’S ACTIVITY AND ITS RESULTS

* SAID ESPECIALLY AFFECTED AREAS INCLUDE THE REVENUES GENERATED BY SHOPPING CENTRES (THE COMPANY HOLDS 30% STAKE IN GALERIA MLOCINY IN WARSAW AND INDIRECTLY HOLDS STAKE IN LIBERO IN KATOWICE)

* THE DYNAMICS OF APARTMENT SALES, TIMELY IMPLEMENTATION OF PROJECTS OR DEALS CARRIED OUT BY THE COMPANY AND ITS RELATED ENTITIES, THE SALE OF COMMERCIAL PREMISES, THE SCHEDULE FOR SALE OF COMMERCIAL PROJECTS AS WELL AS PRICES THAT COULD BE REACHED IN THE SALE PROCESS WILL ALSO BE AFFECTED BY THE SITUATION

* SAID THE MANAGEMENT HAS TAKEN ACTIONS AIMING AT REDUCING THE NEGATIVE IMPACT OF THE ABOVE FACTORS

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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