The Group has spent £5.1 million, with an additional contribution by the counterparty bank, to reduce the notional amount of its interest rate swap from £45.0 million to £33.0 million.
As a result, on a pro-forma basis, EPRA NAV per share as at 30 September 2016 reduces by 6 pence (2.0%) to 289 pence and EPRA NNNAV per share as at 30 September 2016 (without taking into account any additional revaluation gains in the swap as a result of interest rate movements) increases by 2 pence to 268 pence.