EBP East Balkan

 

TIDMEBP 
 
RNS Number : 2850C 
Equest Balkan Properties PLC 
10 November 2009 
 

 
 
10 November 2009 
EQUEST BALKAN PROPERTIES PLC 
("EBP" or the "Company") 
 
 
Sale of Serdika 
 
 
EBP today announces that it has entered into an agreement for the sale of its 
controlling interest in Serdika, its mixed use development site in Sofia, to 
Agriway Holdings Limited. Under the terms of the agreement, the total 
consideration payable in relation to the development amounts to Euro 9.175 
million in cash, of which Euro 7.34 million is attributable to EBP. The proceeds 
are expected to be received on 11 November 2009. The proceeds receivable by EBP 
are in line with the Directors' valuation of EBP's investment in Serdika as at 
30 June 2009. 
Following the sale of the asset, EBP will use the proceeds to settle the loan of 
Euro 5.4 million owed by EBP to Equest Investments Balkans Limited, with the 
balance being used to strengthen working capital. 
-ENDS- 
 Further information, please contact: 
 
 
Equest Partners Limited (for Equest Balkan Properties plc) 
+4420 7240 7600 
Michel Uhler 
Naomi Kora 
 
 
Arbuthnot Securities Limited (NOMAD and broker) 
+4420 7012 2000 
Alastair Moreton 
Hannah Pearce 
 
 
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This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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