Announcement • Sep 23
The Necessity Retail REIT, Inc. Files Form 15 The Necessity Retail REIT, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Class A Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Class A Common Stock was $0.01 per share. New Risk • Sep 13
New major risk - Revenue and earnings growth Earnings have declined by 36% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 163% Cash payout ratio: 195% Earnings have declined by 36% per year over the past 5 years. Reported Earnings • Aug 03
Second quarter 2023 earnings released: US$0.40 loss per share (vs US$0.43 loss in 2Q 2022) Second quarter 2023 results: US$0.40 loss per share (improved from US$0.43 loss in 2Q 2022). Revenue: US$106.7m (down 8.7% from 2Q 2022). Net loss: US$53.5m (loss narrowed 5.5% from 2Q 2022). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 3.9% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Jul 14
The Necessity Retail REIT, Inc. to Report Q2, 2023 Results on Aug 02, 2023 The Necessity Retail REIT, Inc. announced that they will report Q2, 2023 results After-Market on Aug 02, 2023 Announcement • Jul 06
An unknown buyer acquired Portfolio of 44 Properties of The Necessity Retail REIT, Inc. for $93 million. An unknown buyer acquired Portfolio of 44 Properties of The Necessity Retail REIT, Inc. for $93 million on July 5, 2023. The properties sold are in Kentucky, Indiana, Ohio, Michigan, Delaware, Pennsylvania, Virginia, West Virginia, and Maryland.An unknown buyer completed the acquisition of Portfolio of 44 Properties of The Necessity Retail REIT, Inc. on July 5, 2023. Announcement • May 26
Blackwells Capital Provides Information to Shareholders of The Necessity Retail REIT On May 24, 2023, Blackwells Capital LLC announced that Jason Aintabi was quoted in an article published by Insightia in connection with The Necessity Retail REIT, Inc.’s annual shareholders meeting. Announcement • May 25
Global Net Lease, Inc. (NYSE:GNL) entered into a definitive merger agreement to acquire The Necessity Retail REIT, Inc. (NasdaqGS:RTL) for approximately $940 million. Global Net Lease, Inc. (NYSE:GNL) entered into a definitive merger agreement to acquire The Necessity Retail REIT, Inc. (NasdaqGS:RTL) for approximately $940 million on May 23, 2023. Under terms of the Merger Agreement, RTL stockholders will receive 0.670 shares of GNL for each common share of RTL. Following closing of the transactions, GNL stockholders are expected to own approximately 45% of GNL Post-closing, RTL stockholders are expected to own approximately 39%, and the owner of the former external manager and its affiliates are expected to own up to 17%. The combined company will operate as Global Net Lease. The Merger Agreement provides RTL with a go-shop period of 30 days, during which the Special Committee of the RTL Board of Directors and its advisors may actively solicit alternative proposals from third parties, subject to certain limited exceptions. Upon completion of the Merger, the size of the GNL Board of Directors will be expanded to nine members, including the members of the current GNL Board and three independent RTL directors. GNL's current independent chairperson will remain in her position. Current GNL Chief Executive Officer James Nelson and current RTL Chief Executive Officer Michael Weil will become Co-Chief Executive Officers. Mr. Weil will be the sole Chief Executive Officer upon Mr. Nelson's retirement in April 2024. Current GNL Chief Financial Officer Chris Masterson will remain in his position with GNL Post-closing.
The transaction is subject to the satisfaction of closing conditions and approval by the stockholders of GNL and RTL. The transactions were unanimously recommended by the Special Committees of the Boards of Directors of both GNL and RTL, comprised of independent directors, and approved by the full Boards of Directors. The Transactions are expected to close in the third quarter of 2023. The GNL Special Committee, consisting entirely of independent directors, was advised by BMO Capital Markets Corp. as its exclusive financial advisor and Shapiro Sher as its legal counsel. The RTL Special Committee, consisting entirely of independent directors, was advised by Truist Securities as its exclusive financial advisor and Arnold & Porter Kaye Scholer LLP as its legal counsel. AR Global, LLC was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP. Announcement • May 23
Blackwells Capital Calls on Global Net Lease and The Necessity Retail REIT to Confirm Annual Meeting Dates On May 22, 2023, Blackwells Capital LLC responded to the decisions by the boards of directors of Global Net Lease, Inc. and The Necessity Retail REIT, Inc. to delay their respective annual meetings of stockholders, which were originally scheduled to be held on May 18, 2023. Blackwells Capital stated that the annual meetings have been delayed by more than 2 months to ‘on or about July 21, 2023.’ Blackwells Capital expressed its views that the boards of directors of Global Net Lease and The Necessity Retail REIT should immediately confirm the July timing for the annual meetings and publicly commit to forgoing further delays. Reported Earnings • May 11
First quarter 2023 earnings released: US$0.14 loss per share (vs US$0.31 profit in 1Q 2022) First quarter 2023 results: US$0.14 loss per share (down from US$0.31 profit in 1Q 2022). Revenue: US$113.6m (up 20% from 1Q 2022). Net loss: US$18.8m (down 147% from profit in 1Q 2022). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Announcement • May 06
The Necessity Retail REIT, Inc., Annual General Meeting, May 18, 2023 The Necessity Retail REIT, Inc., Annual General Meeting, May 18, 2023. Reported Earnings • Feb 24
Full year 2022 earnings released: FFO per share: US$1.0 (vs US$0.83 in FY 2021) Full year 2022 results: FFO per share: US$1.0 (up from US$0.83 in FY 2021). Revenue: US$446.4m (up 33% from FY 2021). Funds from operations (FFO): US$125.6m (up 32% from FY 2021). FFO margin: 28% (in line with FY 2021). Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 2.6% growth forecast for the REITs industry in Europe. Announcement • Feb 10
The Necessity Retail REIT, Inc. to Report Q4, 2022 Results on Feb 22, 2023 The Necessity Retail REIT, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 22, 2023 Announcement • Jan 04
The Necessity Retail REIT, Inc. Announces Common Stock Dividend for First Quarter 2023, Payable on January 17, 2023 The Necessity Retail REIT, Inc. announced that it intends to continue to pay dividends on its shares of Class A common stock at an annualized rate of $0.85 per share or $0.2125 per share on a quarterly basis. RTL anticipates paying dividends authorized by its board of directors on its shares of Class A common stock on a quarterly basis in arrears on the 15th day of the first month following the end of each fiscal quarter (or, if not a business day, the next succeeding business day) to Class A common stock holders of record on the record date for such payment. Accordingly, RTL declared a dividend of $0.2125 per share of Class A common stock payable on January 17, 2023 to common stock holders of record at the close of business on January 13, 2023. Announcement • Dec 20
Blackwells Capital Announces Lawsuit Against Global Net Lease Inc. and The Necessity Retail REIT Inc Blackwells Capital LLC announced the filing of a complaint in Maryland state court against Global Net Lease Inc. and The Necessity Retail REIT Inc. The lawsuit was filed in response to each company’s meritless rejection of Blackwells’ director candidate nominations. In July 2022, GNL and RTL, along with Healthcare Trust, Inc. and New York City REIT, Inc., four entities externally managed by AR Global, amended their respective bylaws to state that the Boards shall have “up to” two “managing directors” – meaning individuals designated by AR Global. Although the bylaw amendments plainly set a maximum number of “managing directors” rather than a minimum number, GNL and RTL now want to interpret them as providing AR Global and its affiliates with sole and exclusive discretion to appoint two directors to the Boards, effectively trampling stockholders’ rights. If the bylaw amendments did what GNL and RTL duplicitously suggest they do, it would mean that AR Global has an ability – which no other stockholder has – to install directors through an uncontested election. Stockholders must not allow for that possibility, nor for the possibility that GNL and RTL created a “trojan horse bylaw amendment” to give AR Global disguised governance rights. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Leslie Michelson was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2022 earnings released: FFO per share: US$0.2 (vs US$0.27 in 3Q 2021) Third quarter 2022 results: FFO per share: US$0.2 (down from US$0.27 in 3Q 2021). Revenue: US$116.2m (up 26% from 3Q 2021). Funds from operations (FFO): US$29.4m (down 3.1% from 3Q 2021). FFO margin: 25% (down from 33% in 3Q 2021). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the REITs industry in Europe. Announcement • Oct 07
The Necessity Retail REIT, Inc. to Report Q3, 2022 Results on Nov 02, 2022 The Necessity Retail REIT, Inc. announced that they will report Q3, 2022 results After-Market on Nov 02, 2022 Announcement • Oct 04
The Necessity Retail REIT Declares Common Stock Dividend for Fourth Quarter 2022, Payable on October 17, 2022 The Necessity Retail REIT, Inc. announced that it intends to continue to pay dividends on its shares of Class A common stock at an annualized rate of $0.85 per share or $0.2125 per share on a quarterly basis. RTL anticipates paying dividends authorized by its board of directors on its shares of Class A common stock on a quarterly basis in arrears on the 15th day of the first month following the end of each fiscal quarter (or, if not a business day, the next succeeding business day) to Class A common stock holders of record on the record date for such payment. Accordingly, RTL declared a dividend of $0.2125 per share of Class A common stock payable on October 17, 2022 to common stock holders of record at the close of business on October 13, 2022. Breakeven Date Change • Aug 16
Forecast breakeven date pushed back to 2024 The 4 analysts covering Necessity Retail REIT previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 39% per year to 2023. The company is expected to make a profit of US$1.30m in 2024. Average annual earnings growth of 75% is required to achieve expected profit on schedule. Reported Earnings • Aug 04
Second quarter 2022 earnings released: US$0.38 loss per share (vs US$0.067 loss in 2Q 2021) Second quarter 2022 results: US$0.38 loss per share (down from US$0.067 loss in 2Q 2021). Revenue: US$116.9m (up 43% from 2Q 2021). Net loss: US$50.4m (loss widened US$43.0m from 2Q 2021). Over the next year, revenue is forecast to grow 10% while the industry in Germany is not expected to grow. Announcement • Aug 04
The Necessity Retail REIT, Inc. Announces Impairment Charges for the Three Months Ended June 30, 2022 The Necessity Retail REIT, Inc. announced impairment charges for the three months ended June 30, 2022. For the period, the company announced impairment of real estate investments of $58,954,000 compared to $91,000 a year ago. Announcement • Jul 08
The Necessity Retail REIT, Inc. to Report Q2, 2022 Results on Aug 03, 2022 The Necessity Retail REIT, Inc. announced that they will report Q2, 2022 results After-Market on Aug 03, 2022 Announcement • Jul 02
The Necessity Retail REIT, Inc. Announces Common Stock Dividend for Third Quarter 2022, Payable on July 15, 2022 The Necessity Retail REIT, Inc. announced that it intends to continue to pay dividends on its shares of Class A common stock at an annualized rate of $0.85 per share or $0.2125 per share on a quarterly basis. RTL anticipates paying dividends authorized by its board of directors on its shares of Class A common stock on a quarterly basis in arrears on the 15th day of the first month following the end of each fiscal quarter (unless otherwise specified) to Class A common stock holders of record on the record date for such payment. Accordingly, RTL declared a dividend of $0.2125 per share of Class A common stock payable on July 15, 2022 to Class A common stock holders of record at the close of business on July 11, 2022. Breakeven Date Change • Jul 01
Forecast breakeven date moved forward to 2022 The 4 analysts covering Necessity Retail REIT previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of US$21.6m in 2022. Announcement • Jun 01
The Necessity Retail REIT, Inc. (NasdaqGS:RTL) acquired The Plant open air shopping center in San Jose, CA from CIM Real Estate Finance Trust, Inc. for $175 million. The Necessity Retail REIT, Inc. (NasdaqGS:RTL) acquired The Plant open air shopping center in San Jose, CA from CIM Real Estate Finance Trust, Inc. for $175 million on May 31, 2022. The closing is the sixth tranche from the previously announced agreement to acquire a portfolio of 81 Power, Anchored and Grocery Centers from certain subsidiaries of CIM Real Estate Finance Trust, Inc. for $1.3 billion.
The Necessity Retail REIT, Inc. (NasdaqGS:RTL) completed the acquisition of The Plant open air shopping center in San Jose, CA from CIM Real Estate Finance Trust, Inc. on May 31, 2022. Reported Earnings • May 06
First quarter 2022 earnings released: FFO: US$94.9m per share (vs US$0.21 in 1Q 2021) First quarter 2022 results: FFO: US$94.9m per share (up from US$0.21 in 1Q 2021). Revenue: US$94.9m (up 20% from 1Q 2021). Funds from operations (FFO): US$30.0m (up 33% from 1Q 2021). FFO margin: 32% (up from 28% in 1Q 2021). Over the next year, revenue is forecast to grow 22% while the industry in Germany is not expected to grow. Announcement • May 05
The Necessity Retail REIT, Inc. Announces Unaudited Impairment Charges for the First Quarter Ended March 31, 2022 The Necessity Retail REIT, Inc. announced unaudited Impairment charges for the first quarter ended March 31, 2022. For the period, the company reported Impairment of real estate investments of $5,942,000. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Leslie Michelson was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 15
The Necessity Retail REIT, Inc. to Report Q1, 2022 Results on May 04, 2022 The Necessity Retail REIT, Inc. announced that they will report Q1, 2022 results After-Market on May 04, 2022 Announcement • Apr 03
The Necessity Retail REIT, Inc. Announces Common Stock Dividend for Second Quarter 2022, Payable on April 18, 2022 The Necessity Retail REIT, Inc. announced that it intends to continue to pay dividends on its shares of Class A common stock at an annualized rate of $0.85 per share or $0.2125 per share on a quarterly basis. RTL anticipates paying dividends authorized by its board of directors on its shares of Class A common stock on a quarterly basis in arrears on the 15th day of the first month following the end of each fiscal quarter (unless otherwise specified) to Class A common stock holders of record on the record date for such payment. Accordingly, RTL declared a dividend of $0.2125 per share of Class A common stock payable on April 18, 2022 to Class A common stock holders of record at the close of business on April 11, 2022. Recent Insider Transactions • Mar 01
Independent Director recently bought €63k worth of stock On the 28th of February, Stanley Perla bought around 10k shares on-market at roughly €6.29 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €99k more in shares than they have sold in the last 12 months. Reported Earnings • Feb 27
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: FFO: US$335.2m per share (down from US$0.90 in FY 2020). Revenue: US$335.2m (up 9.8% from FY 2020). Funds from operations (FFO): US$95.3m (down 1.8% from FY 2020). FFO margin: 28% (down from 32% in FY 2020). Revenue missed analyst estimates by 1.7%. Over the next year, revenue is forecast to grow 18% while thereits industry in Germany is not expected to grow. Announcement • Feb 26
The Necessity Retail REIT, Inc., Annual General Meeting, Apr 19, 2022 The Necessity Retail REIT, Inc., Annual General Meeting, Apr 19, 2022, at 11:00 US Eastern Standard Time. Agenda: To consider the election of one member of the Board of Directors to serve until the 2025 annual meeting of stockholders and until his successor is duly elected and qualifies; to consider the ratification of the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the year ending December 31, 2022; and to consider the transaction of such other matters as may properly come before the Annual Meeting and any postponement or adjournment thereof. Announcement • Feb 02
American Finance Trust, Inc. to Report Q4, 2021 Results on Feb 23, 2022 American Finance Trust, Inc. announced that they will report Q4, 2021 results After-Market on Feb 23, 2022 Announcement • Jan 08
An unknown buyer completed the acquisition of non-core portfolio of three office buildings leased to Sanofi S.A. An unknown buyer agreed to acquire non-core portfolio of three office buildings leased to Sanofi S.A from American Finance Trust, Inc. (NasdaqGS:AFIN) for approximately $260 million on December 20, 2021. The consideration represents a 6.38% cash capitalization rate and a $10 million increase from its original purchase price. The proceeds of the transaction is being used to partially fund the Purchase Price. The sale is expected to be completed during the first quarter of 2022. The Sanofi PSA is subject to conditions, and there can be no assurance the Company will be able to complete the sale on the contemplated terms, or at all.
An unknown buyer completed the acquisition of non-core portfolio of three office buildings leased to Sanofi S.A on December 20, 2021. Breakeven Date Change • Jan 01
Forecast to breakeven in 2024 The 2 analysts covering American Finance Trust expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$3.78m in 2024. Average annual earnings growth of 61% is required to achieve expected profit on schedule. Reported Earnings • Nov 04
Third quarter 2021 earnings released: US$0.054 loss per share (vs US$0.065 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$91.9m (up 17% from 3Q 2020). Net loss: US$6.41m (loss narrowed 9.7% from 3Q 2020). Announcement • Sep 29
American Finance Trust, Inc. (NasdaqGS:AFIN) acquired 31 Properties Located in the United States for $85.3 million. American Finance Trust, Inc. (NasdaqGS:AFIN) acquired 31 Properties Located in the United States for $85.3 million subsequent to June 30, 2021. The aggregate total base purchase price of approximately $85.3 million excludes acquisition related costs. These acquisitions were funded with net proceeds from the company’s equity at-the-market programs.
American Finance Trust, Inc. (NasdaqGS:AFIN) completed the acquisition of 31 Properties Located in the United States subsequent to June 30, 2021. Reported Earnings • Aug 05
Second quarter 2021 earnings released: US$0.013 loss per share (vs US$0.20 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$81.6m (up 8.9% from 2Q 2020). Net loss: US$1.48m (loss narrowed 93% from 2Q 2020). Reported Earnings • May 07
First quarter 2021 earnings released: US$0.087 loss per share (vs US$0.084 loss in 1Q 2020) The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2021 results: Revenue: US$79.2m (up 6.2% from 1Q 2020). Net loss: US$9.41m (loss widened 2.8% from 1Q 2020). Executive Departure • Apr 13
CFO, Secretary & Treasurer has left the company On the 9th of April, Katie Kurtz's tenure as CFO, Secretary & Treasurer ended after 3.4 years in the role. As of December 2020, Katie personally held 71.53k shares (€438k worth at the time). Katie is the only executive to leave the company over the last 12 months. Announcement • Feb 27
American Finance Trust, Inc., Annual General Meeting, Apr 12, 2021 American Finance Trust, Inc., Annual General Meeting, Apr 12, 2021. Agenda: To consider the election of two members of the board of directors to serve until the 2024 annual meeting of stockholders and until their successors are duly elected and qualify; to consider the ratification of the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the year ending December 31, 2021; and to transaction of such other matters as may properly come before the Annual Meeting and any postponement or adjournment thereof. Reported Earnings • Feb 26
Full year 2020 earnings released: FFO US$0.90 per share (vs US$0.93 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: US$305.2m (up 1.8% from FY 2019). Funds from operations (FFO): US$97.0m (down 1.6% from FY 2019). FFO margin: 32% (down from 33% in FY 2019). The decrease in margin was driven by higher expenses. Analyst Estimate Surprise Post Earnings • Feb 26
Revenue misses expectations Revenue missed analyst estimates by 0.7%. Over the next year, revenue is forecast to grow 7.4%, compared to a 45% growth forecast for the REITs industry in Germany. Is New 90 Day High Low • Feb 16
New 90-day high: €6.99 The company is up 11% from its price of €6.29 on 18 November 2020. The German market is also up 11% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the REITs industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €14.21 per share. Announcement • Feb 02
American Finance Trust, Inc. to Report Q4, 2020 Results on Feb 24, 2021 American Finance Trust, Inc. announced that they will report Q4, 2020 results After-Market on Feb 24, 2021 Is New 90 Day High Low • Nov 16
New 90-day high: €6.27 The company is up 6.0% from its price of €5.93 on 18 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €15.00 per share. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue beats expectations Revenue exceeded analyst estimates by 2.6%. Over the next year, revenue is forecast to stay flat compared to a 113% growth forecast for the REITs industry in Germany. Reported Earnings • Nov 07
Third quarter 2020 earnings released: FFO US$0.24 per share The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: US$78.5m (up 7.7% from 3Q 2019). Funds from operations (FFO): US$25.6m (up 2.6% from 3Q 2019). FFO margin: 33% (down from 34% in 3Q 2019). The decrease in margin was driven by higher expenses. Is New 90 Day High Low • Oct 19
New 90-day low: €5.09 The company is down 18% from its price of €6.19 on 21 July 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.36 per share. Announcement • Aug 11
An unknown buyer acquired two Truist Bank properties from American Finance Trust, Inc. (NasdaqGS:AFIN) for $5.6 million. An unknown buyer acquired four occupied two Truist Bank properties from American Finance Trust, Inc. (NasdaqGS:AFIN) for $5.6 million subsequent to March 31, 2020 but before April 15, 2020. In connection with the sales, American Finance Trust, Inc. repaid $2.1 million of mortgage debt.
An unknown buyer completed the acquisition two Truist Bank properties from American Finance Trust, Inc. (NasdaqGS:AFIN) subsequent to March 31, 2020 but before April 15, 2020. Announcement • Jul 24
American Finance Trust, Inc. to Report Q2, 2020 Results on Aug 05, 2020 American Finance Trust, Inc. announced that they will report Q2, 2020 results on Aug 05, 2020 
