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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ottoman | LSE:OTM | London | Ordinary Share | GB00B0PJ6V42 | ORD NPV |
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 |
TIDMOTM
RNS Number : 5980B
Ottoman Fund Limited (The)
05 April 2017
For immediate release
7.00 a.m. 5 April 2017
This announcement contains inside information and is required to be issued pursuant to the Market Abuse Regulation.
The Ottoman Fund Limited: Market Update
The Ottoman Fund Limited ("the Company") has settled all claims with its former finance director, who embezzled money from several of the Company's Turkish subsidiaries. The former finance director has transferred the shares in Mandalina registered in his name to the Company, discontinued all litigation against the Company and repaid $250,000 of the embezzled money. The Company in turn has agreed to discontinue all litigation against the embezzler. This development should enable the Company to make a final distribution and wind up the Ottoman structure. The timing of a future announcement concerning the amount and timing of the distribution will largely depend on BDO's review of Mandalina's records for tax and other issues as well as the Company's payment of various obligations. The Company cannot now predict when this review will be completed or any future distributions but will keep the market apprised of material developments.
Enquiries:
N+1 Singer 020 7496 3000
James Maxwell/Gillian Martin
Company Secretary 01534 504 735
Vistra Fund Services Limited
John D. Chapman
Chairman
The Ottoman Fund Limited
4th Floor, St Paul's Gate, 22-24 New Street, St Helier, Jersey, JE1 4TR
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCOKQDNDBKBKQK
(END) Dow Jones Newswires
April 05, 2017 02:00 ET (06:00 GMT)
1 Year Ottoman Fund Chart |
1 Month Ottoman Fund Chart |
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