Share Name Share Symbol Market Type Share ISIN Share Description
QANNAS INVESTMENTS LIMITED NEX:QIL.GB NEX Ordinary Share KYG7306P1037
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +$0.00 - - - - - - - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Qannas Investments Limited Investment Update

22/11/2018 3:33pm

UK Regulatory (RNS & others)


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TIDMQIL

RNS Number : 2559I

Qannas Investments Limited

22 November 2018

Qannas Investments Limited

("Qannas" or the "Company")

Repayment of Loan Investment

Qannas Investments Limited, the closed- ended investment company listed on the AIM market, is pleased to announce the exit from its debt investment of EUR7m ("Original Loan") in Integrated Eastern European Fund ("IEEF") made in August 2014.

The Original Loan was provided to allow IEEF to complete the acquisition of two land plots in high growth tourist areas of Bulgaria and Montenegro. In July 2016, QIL exited partial portion of the Original Loan, realizing $7.1m proceeds at that time. Subsequent to this, QIL received a total $3.9m proceeds from IEEF. Following the final proceeds in November 2018, the Company has now exited 100% of its exposure in the Original Loan along with accrued interest.

Mustafa Kheriba, a director of the Company was also previously a director of IEEF, and of its owner, Integrated Capital.

For further information please contact:

Qannas Investments Limited Tel: 01534 844 806

Nadia Trehiou

ADCM Ltd. (Investment Manager) Tel: +971 2 639 0099

Mustafa Kheriba

finnCap Ltd Tel: 020 7220 0500

Henrik Persson/William Marle (Corporate Finance)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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November 22, 2018 10:33 ET (15:33 GMT)

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