Additional bank financing successfully completed
Hoofddorp, 29 May 2020 – Basic-Fit N.V. (Basic-Fit), Europe’s largest and fastest growing fitness chain, updates the market on the latest developments regarding the lifting of COVID-19 related government measures.

We have seen progress with respect to the lifting of the government measures that have forced us to keep our clubs closed since mid-March. In Luxembourg we will reopen our clubs today, 29 May. Yesterday it was announced that we will be allowed to reopen our clubs in France as of 2 June. In Belgium and Spain we also expect to start reopening clubs in June. In the Netherlands the Government announced the expected reopening date to be 1 July. We therefore expect to have reopened all our clubs on 1 July. An overview of the expected reopening dates is provided in the table below.

The past weeks, Basic-Fit has been preparing its clubs to reopen in compliance with the government requirements and to make sure its employees can work, and its members can exercise in a safe and comfortable way. With an online reservation system, we are able to manage the flow of people to our clubs and the number of people in our clubs at any given time. Through signage and clear communications members can safely move around in the clubs whilst keeping the required distance between each other. We increase the already high standard cleaning protocols and have ample availability of cleaning stations in the club so people can clean their equipment before and after their workout. In addition, we have optimized the ventilation in the clubs to make sure that there is no recirculation of air and the inflow of fresh air is well above the expected recommended levels. These are a few of the measures that we have taken to make it possible for our members to safely work out in our reopened clubs.

During the period of lockdown, we have seen strong support from our members. Many of them continued to be active by following our online group classes. Once we have reopened, we are excited to see our more than 2 million members back in our clubs. We expect that the vast majority will resume using their membership within the first few weeks.

Today, we will complete the process of obtaining an additional €60 million bank facility as preannounced on 22 April. The three-year GO-C facility will be repaid quarterly in a straight line in two years, after an initial one-year grace period. This facility will help us absorb the liquidity impact of the COVID-19 related government measures.