Porto Commercial Registry and Fiscal Number 501669477
Publicly Listed Company
INSIDE INFORMATION
Under the terms and for the purposes of Article 248-A of the Securities Code, we hereby inform you that:
The Congreso de los Diputados in Spain has approved today new rules applicable to the lease contracts of commercial establishments for food and beverage and retail activities located in airports managed by AENA - Aeropuertos Nacionales y Navegación Aérea (in the form of an Enmienda of the Senado to the Ley 16/1987, de 30 de julio, de Ordenación de los Transportes Terrestres), which will come into force after its official publication.
Under the rules approved today, the minimum annual guaranteed rent provided in these contracts for the period between March 15, 2020 and June 20, 2020, both included, will be eliminated and its payment will not be enforceable by AENA.
It is also foreseen that, as from 21 June 2020, the minimum annual guaranteed rent established in those contracts will be automatically reduced in direct proportion to the reduction of the passenger volume at the airport where the commercial establishment in question is located in relation to the passenger volume reached at the same airport in 2019. This reduction will be applicable in 2020 and in all subsequent years until the airport's annual passenger volume is equal to that of 2019.
These rules will not affect AENA's right to require payment of the variable rent established in the contracts with reference to the sales of the various commercial establishments.
Ibersol SGPS, S.A. is analysing the impacts resulting from this legal amendment, notably from a financial and accounting point of view.
Porto, 23 September 2021
The Representative for Relations with the Market
Attachments
Original document
Permalink
Disclaimer
Ibersol SGPS SA published this content on 23 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 September 2021 17:21:09 UTC.
Ibersol, SGPS, S.A. specializes in operating fast-food restaurant chains, primarily under the Pizza Hut, Pizza Movil, Kentucky Fried Chicken (KFC), Bocatta, Burger King, O Kilo, Pasta Caffé, Pans & Company, Café Sô names and Flor d'Oliveira.
At the end of 2022, the group operated 621 restaurants located mainly in Portugal (296), Spain (179) and Angola (10).
IBERSOL, SGPS, S.A. 
