Breach of Covenant
13 Março 2009 - 8:36AM
UK Regulatory
TIDMEBP
RNS Number : 8282O
Equest Balkan Properties PLC
13 March 2009
13 March 2009
Equest Balkan Properties plc ("EBP")
Breach of Covenant
EBP announces that its subsidiary SC. Rivium Galeria Mall SRL., owner of Moldova
Mall in Iasi, Romania, is in breach of covenants contained in a non-recourse
mortgage loan made in 2006 by Bank Austria Creditanstalt AG.
SC. Rivium Galeria Mall is a single asset 100% subsidiary of EBP and this breach
is not expected to impact any of EBP's other assets or borrowings.
At the time of the last published valuation of EBP's assets Moldova Mall
represented 4% of NAV.
Bank Austria Creditanstalt AG has issued a default notice and the parties are in
active discussions, the outcome of which will be announced.
EBP is not aware of any other pending breaches of financial covenants by EBP or
any subsidiary.
For further information please contact:
Equest Partners (for Equest Balkan Properties)
+44 20 7240 7600
Michael Uhler
Naomi Kora
KBC Peel Hunt Ltd - NOMAD
+44 20 7418 8900
Capel Irwin
Alex Vaughan
Arbuthnot Securities Limited
+44 20 7012 2000
Alastair Moreton
Hannah Pearce
This information is provided by RNS
The company news service from the London Stock Exchange
END
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