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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 |
TIDMSQB
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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