DDE Develica

 

TIDMDDE 
 
RNS Number : 9084M 
Develica Deutschland Ltd 
06 February 2009 
 

FOR IMMEDIATE RELEASE 
6 February 2009 
 
 
DEVELICA DEUTSCHLAND LIMITED 
("Develica" or "the Company") 
WAIVER AND AMENDMENT TO CREDIT FACILITIES 
 
 
 
 
Develica, the AIM-listed German Property investment company, reports that 
discussions with its majority lender for a waiver and amendment to its credit 
facilities are expected to be concluded shortly. 
 
 
The Company announced in its half-year report, published at the end of December, 
that an agreement in principle had been reached for a waiver and amendment to 
the credit facilities with its majority lender. The Company believes the waiver 
should ensure the continuation of the banking relationship and give time for the 
market to stabilise, enabling Develica to work towards returning value to 
shareholders. 
 
 
At the time of the half-year report the Company anticipated that the waiver and 
amendment would be concluded by the end of January 2009. Develica is confident 
that it will be able to inform shareholders of a positive conclusion shortly. 
 
 
Ends. 
 
 
Contact: 
    Derek Butler, Chairman, Develica.         Tel: 020 7016 1860 
    Baron Phillips, Baron Phillips Associates.    Tel: 020 7920 3161 
                                                     07767 444193 
    Philip Secrett, Grant Thornton UK LLP   Tel: 020 7728 2578 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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