Investor update

 

TIDMTBI 
 
RNS Number : 4677V 
Trans Balkan Investments Ltd 
02 November 2010 
 

2nd November 2010 
 
 
 
 
          TRANS BALKAN INVESTMENTS LIMITED 
("TBIL" or the "Company") 
 
 
                                INVESTOR UPDATE 
 
 
Report and Accounts 
 
Further to the Company's announcement on 4 August 2010 concerning the temporary 
suspension of trading in the Company's ordinary shares, TBIL today announces 
with regret that the audit of the Company's consolidated financial statements is 
still incomplete and a few technical issues remain to be resolved with the 
Company's auditors, Deloitte.  It is anticipated that these matters will be 
satisfactorily concluded shortly and the audited financial statements will be 
sent to the Company's shareholders at that time.  It is expected that trading in 
the Company's shares will resume soon thereafter. 
 
 
Property Assets 
The Company reports that the sale of Evropa Palace, one of two remaining former 
cinema sites in Sofia, owned through its subsidiary, Pelican BVI, and which was 
mentioned in an earlier announcement on 4 August 2010, is expected to be 
finalised within the next few days, the gross proceeds amounting to EUR1.5 
million.  Furthermore, a preliminary agreement for the sale of Urvich, the other 
remaining former cinema site, was signed on 6 October 2010, with a Bulgarian 
real estate development company. 
In respect to the Banya Hotel and Spa project, TBIL continues with its 
discussions with DSK Bank and its parent bank OTP in Budapest concerning an 
amended proposal for completing the project.  No final resolution has yet been 
reached in respect to the Sozopolis Resort project. 
 
Enquiries: 
 
+----------------------------------------+--------------------+--------------------+ 
| Trans Balkan Investments Limited       | Ian Schmiegelow    |  Tel: + 44 20 7630 | 
|                                        | (Chairman)         |               3350 | 
|                                        | Natalie Weedon     |                    | 
|                                        |                    |                    | 
+----------------------------------------+--------------------+--------------------+ 
| Financial Dynamics                     | Ed Gascoigne-Pees  |  Tel: + 44 20 7269 | 
|                                        | Nick Henderson     |               7132 | 
|                                        |                    |                    | 
+----------------------------------------+--------------------+--------------------+ 
| Collins Stewart Europe Limited         | Stewart Wallace    |   Tel: [phone] | 
| (Nomad)                                |                    |               8350 | 
|                                        |                    |                    | 
+----------------------------------------+--------------------+--------------------+ 
| KBC Peel Hunt Limited                  | Capel Irwin        |  Tel: + 44 20 7418 | 
| (Broker)                               |                    |               8900 | 
|                                        |                    |                    | 
+----------------------------------------+--------------------+--------------------+ 
                                    -ENDS- 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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