We are writing to inform you that we will be distributing the latest London and Regional Capitals fund dividends next month.
Following the commencement of the wind down process, we began paying out all dividends to investors' nominated bank accounts. However, due to investor feedback, we have reverted to investors' original selections.
If you originally chose to receive dividends as income, your dividends will continue to be paid out to your nominated bank account.
If you originally chose to reinvest dividends, your dividends will now be held in a secure client money account with Barclays and will be paid out along with the net proceeds from the sale of properties following the completion of the wind down process.
If you have changed your preference recently, this selection will be maintained.
If you would like to change how your dividend is distributed, please contact us at support@bricklane.com by February 28th. Following this date, we will be unable to make further changes to these selections for the upcoming dividend. However, we will be able to change selections for future dividends.
In additional news, the Regional Capitals fund has now signed an amended finance agreement with our lender, Barclays. We had previously breached our debt covenant with Barclays due to sky-rocketing insurance premiums and fire safety costs in affected buildings, but they have now reduced the covenant threshold to a level that we expect we will be able to meet going forward. As we are no longer breaching our debt covenant, we will be able to resume paying dividends as normal going forward.