Sale of Investments
29 Dezembro 2009 - 1:30PM
UK Regulatory
TIDMEBP
RNS Number : 7897E
Equest Balkan Properties PLC
29 December 2009
29 December 2009
EQUEST BALKAN PROPERTIES PLC
("EBP" or the "Company")
Sale of Euro Car Park
EBP announces that it has today entered into an agreement for the sale of its 75
per cent. subsidiary, Trigon Properties BV, the owner of Euro Car Park, a mixed
use development site in Bucharest, to Hilburg International Limited. Under the
terms of the agreement, the total consideration payable by the purchaser in
relation to EBP's 75 per cent. stake in the development amounts to Euro 0.5
million in cash (equivalent to the Directors' valuation of the investment at 30
June 2009), plus the provision of a cash backed guarantee amounting to Euro 320k
to a local authority which releases the security previously provided by EBP. The
cash proceeds will be used by EBP to strengthen its working capital.
Completion of the sale is expected in early January.
-ENDS-
Further information, please contact:
Arbuthnot Securities Limited (NOMAD and broker)
+44 (0)20 7012 2000
Alastair Moreton
Hannah Pearce
IOMA Fund and Investment Management Limited (Administrator to EBP)
+44 (0)1624 681250
Graham Smith
This information is provided by RNS
The company news service from the London Stock Exchange
END
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