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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mirland Dev. | LSE:MLD | London | Ordinary Share | CY0100141015 | ORD USD0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMLD
RNS Number : 4823J
Mirland Development Corporation PLC
17 December 2015
17 December 2015
MirLand Development Corporation plc
("MirLand" or the "Company")
Update regarding the Settlement Plan and Bonds Rating
MirLand, one of Russia's leading residential and commercial property developers, announces that, further to the Company's previous announcements regarding the approval of the Series (A-F) bondholders (the "Bondholders") to the Settlement Plan with the Company (the "Settlement Plan"), the Bondholders in a joint meeting convened on December 15, 2015, consented to the following amendments to the Settlement Plan:
1. The final date for the completion of the conditions precedent under the Settlement Plan will be extended to February 28, 2016.
2. To the extent JEC, IBC or Darban ("the Company's controlling shareholders") (the "Controlling Companies") decide, at their sole discretion, to provide funds to the Company prior to completion of the Settlement Plan, such funds will be considered as an Advance Payment (as defined in the Settlement Plan).and as such will be deducted from the total amount required to be provided by the Controlling Companies to the Company under the Settlement Plan . To the extent that the settlement under the Settlement Plan does not complete by the final date, the terms of repayment of the Advance Payment, including the interest rate payable by the Company and the maturity date, are to be agreed between the Controlling Companies and the Company, subject to all approvals that are required.
In addition, the Company announces that Midroog, a subsidiary of Moody's Investor Services, the credit rating agency, set the credit rating for MirLand's Series A, B, D, E and F Bonds to B3 with negative outlook on a local Israeli scale.
For further information, please visit www.mirland-development.com, or contact:
MirLand Development Corporation +7 495 787 49 plc 62 Roman Rozental +7 499 130 31 roman@mirland-development.com 09 FTI Consulting Dido Laurimore / Tom Gough / Ellie Sweeney +44 20 7327 1000 Investec Bank plc Jeremy Ellis / David Anderson +44 20 7597 4000
This information is provided by RNS
The company news service from the London Stock Exchange
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December 17, 2015 11:54 ET (16:54 GMT)
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