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SQB Squarestone

110.00
0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Squarestone LSE:SQB London Ordinary Share GG00B61JP354 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% 110.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Golden Square Shopping Mall Construction Incident (1250R)

31/10/2011 7:01am

UK Regulatory


Squarestone (LSE:SQB)
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RNS Number : 1250R

Squarestone Brasil Limited

31 October 2011

31 October 2011

SQUARESTONE BRASIL LIMITED

("Squarestone Brasil", the "Company" or "the Group")

GOLDEN SQUARE SHOPPING MALL CONTRUCTION INCIDENT

Squarestone Brasil Limited (AIM: SQB.L; SQBW.L), the Anglo-Brazilian real estate and investment group, announces that following a significant structural failure of a substantial part of the pre-cast concrete frame of the new extension at its Golden Square shopping mall development in Greater Sao Paulo, Brazil this weekend it expects a delay in completion of the project. An adjacent property was also affected.

Preliminary investigations by the Company indicate that no one was present at either of the properties affected and therefore no one is believed to have been hurt. The cause of the collapse is not yet known.

The Company has contacted its own insurers and will be working with them and the contractor on site to remediate the situation and to carry out a thorough investigation.

The Company will update the market further in due course as the reasons for this setback are identified and the effects on the development plan are clarified.

For further information contact:

 
 Squarestone Brasil                  Tel: +44 (0) 20 7074 1800 
 Robert Sloss, interim Joint         Email: squarestone@kreabgavinanderson.com 
  CEO 
  Tim Barlow, interim Joint 
  CEO 
 
 Liberum Capital (Nominated          Tel: +44 (0) 20 3100 2000 
  Adviser and Broker) 
 Chris Bowman 
  Christopher Britton 
 
 Kreab Gavin Anderson (PR Adviser)   Tel: +44 (0) 20 7074 1800 
 James Benjamin                      Email: squarestone@kreabgavinanderson.com 
  Natalie Biasin 
 

Notes to Editors

Squarestone Brasil Limited (AIM: SQB.L, SQBW.L) is an Anglo-Brazilian real estate investment and development company specialising in the Brazilian shopping mall sector. The Company combines local real estate market knowledge with international expertise in retailing, construction and development and is focused on introducing to the Brazil shopping mall sector international standards in terms of design, construction, operation and asset management.

Squarestone Brasil Limited is a Guernsey registered and domiciled company with an operational subsidiary in Sao Paulo. Its Ordinary Shares and Warrants are traded on AIM where it was admitted to trading in April 2010. The business carried on by Squarestone Brasil was co-founded in 2007 by Tim Barlow, Robert Sloss and James Morse.

Further information on Squarestone Brasil is available from the Company's website: www.squarestone.com.br

This information is provided by RNS

The company news service from the London Stock Exchange

END

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