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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ablon | LSE:ABL | London | Ordinary Share | GG00B1LB2139 | ORD EUR0.01 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 22.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jul 2019 to Jul 2024
TIDMABLFurther to an announcement made on February 2, 2010, Ablon Group Limited ("Ablon"), a leading real estate owner and developer in Central and Eastern Europe, wishes to provide the following update.
On Tuesday, June 8, 2010, the Supreme Court in Hungary suspended the execution of the verdict made by the Arbitration Court on the BVM Epelem ("BVM") case. The Arbitration Court initially ruled that Global Center LLC (a subsidiary of Ablon Group) be reimbursed HUF 4,988,000,000 as principal, plus due interest of approximately HUF 3,000,000,000 (approximately 29 million euro in aggregate) to compensate for illegally delaying the construction of a factory outlet development project in Budapest.
The Supreme Court's suspension will last until a material decision on BVM's application for the cancellation of the said verdict has been reached. The company will announce any further developments in due course.
For further information, please contact:
Ablon Group Limited Uri Heller / Adrienn Lovro Tel. +36 1 225 6600 Religare Capital Markets James Pinner / Derek Crowhurst (Nominated Adviser) Daniel Briggs (Joint Corporate Broker) Tel. +44 (0)20 7444 0500 ING Wholesale Banking (Joint Corporate Broker) Nathalie Bachich de Recina / Julie Wakkie Tel. +44 (0)20 7767 8362 Shared Value Limited Nicolas Duperrier / Mark Walter Tel. +44 (0)20 7321 5010 ablon@sharedvalue.netNOTES TO EDITORS
About Ablon Group
Founded in 1993 in Budapest (Hungary), Ablon Group has properties at 34 locations, of which there are 15 completed projects and 19 development projects in Budapest, Prague, Bucharest, Warsaw and Gdansk. Its portfolio comprises a diversified mix of office, residential, retail, logistics and hotel developments valued at EUR525 million by external independent appraisers (GVA and King Sturge), as at 31 December 2009. Ablon has, to date, approximately 177,090 square metres of existing and income generating office and retail assets (at 13 locations) in Budapest and Prague, with a significant development land bank comprising a further 1,273,230 square metres (at 24 locations) in Budapest, Prague, Bucharest, Warsaw and Gdansk. Ablon's shares are traded on the AIM market of the London Stock Exchange under the ticker 'ABL'.
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