AMSTERDAM, April 8, 2024 /PRNewswire/ -- New Amsterdam Invest N.V. (the "Company", or "New Amsterdam Invest", or "NAI"), a commercial real estate company listed on Euronext Amsterdam, announces it rescheduled publication of its audited annual report 2023 to 29 April 2024 and AGM to 21 June 2024.
Audited annual report and full results 2023 to be published 29 April 2024
Until 2 June 2023 the Company operated as a SPAC and only per that date acquired its operating companies. As a result, it is the first time the Company publishes consolidated annual accounts. It recently appears all parties involved require more time than originally anticipated to finalize the 2023 accounts. The Board of NAI is strongly committed to deliver the market and its investors a comprehensive set of audited accounts and hence rescheduled publication of the 2023 annual report, originally due today, to 29 April 2024.
Annual General Meeting scheduled for 21 June 2024
Given publication of the AGM agenda and all relevant agenda items are due at least 42 days before an AGM, postponement of the audited annual accounts to 29 April implies that the AGM originally scheduled for 31 May has to be rescheduled. The AGM agenda will be published on 29 April and the new AGM date has been set at 21 June 2024.
Outline 2023 results
Net Rental Income for full year 2023 is consistent with outlook as provided at Half Year 2023 and the Net Result from Operations over 2023 is positive in accordance with written expectations. Given accounting requirements, one-off costs (in connection with the transition from SPAC to operational company) and (non-cash) revaluations of investment property were required, resulting in a 2023 net loss.
Outlook 2024
For 2024 NAI expects to be profitable and well on track to realize the financial objectives the Company has set out at listing. More specific NAI reiterates that its current portfolio should enable it to realize a 2024 net rental income of approximately €6.9 million and a result before tax of €2.6 million excluding potential impact of revaluation of investment property and or the acquisition of new investment property.
Financial Calendar
- 8 April 2024, full year 2023 results update
- 29 April 2024, D.V., Annual Report 2023
- 21 June 2024, D.V., General Meeting of Shareholders
- 29 August 2024 D.V., half year 2024 results publication
About New Amsterdam Invest
New Amsterdam Invest N.V. is a commercial real estate company listed at Euronext Amsterdam with operating companies in the United States and the United Kingdom.
The main objective of New Amsterdam Invest is running commercial activities including the owning, (re-)developing, acquiring, divesting, maintaining, letting out and/or otherwise operating commercial real estate, all in the broadest possible meaning.
All information about New Amsterdam Invest, including its principles and objectives can be found in the Shareholder Circular dated April 21, 2023, and the prospectus dated June 21, 2021. This and all other relevant documentation can be found on the company website: www.newamsterdaminvest.com
Disclaimer
Elements of this press release contain or may contain information about New Amsterdam Invest N.V. within the meaning of Article 7(1) to (4) of the EU Market Abuse Regulation.
This press release may include statements, including NAI's financial and operational medium-term objectives that are, or may be deemed to be, 'forward-looking statements'. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms 'believes', 'estimates', 'plans', 'projects', 'anticipates', 'expects', 'intends', 'may', 'will' or 'should' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect NAI's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to NAI's business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.
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