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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Argo Real Est. | LSE:AREO | London | Ordinary Share | GB00B17PFQ50 | 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% | 0.02 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Feb 2020 to Feb 2025
TIDMAREO
RNS Number : 4928B
Argo Real Estate Opportunities Fd
03 April 2013
3 April 2013
Argo Real Estate Opportunities Fund Limited
("AREOF" or "the Company")
Statement Re: Sibiu Shopping City Loan ("SSC") Facility Event of Default
The Board wishes to announce that AREOF has failed to make a EUR1m payment due under the terms of the EUR26.7m loan ("the Facility") from a syndicate of banks led by KBC Bank ("the Syndicate"). The default has come about because of a cash flow shortage at the Sibiu Shopping City retail park which is financed by the Facility. The Company will now enter into negotiations with the Syndicate aimed at restructuring the Facility.
This default may activate cross default clauses in certain of the AREOF group's other credit agreements. The Board is confident that if cross default clauses are activated they will be waived by those lenders affected.
Enquiries:
Argo Real Estate Opportunities Fund Limited David Clark, Chairman +44 (0)1481 231100 finnCap Limited (Nominated Adviser) Matthew Robinson Henrik Persson +44 (0) 207 220 0500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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