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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 Jan 2020 to Jan 2025
TIDMAREO
RNS Number : 8367E
Argo Real Estate Opportunities Fd
16 May 2013
16 May 2013
Argo Real Estate Opportunities Fund Limited
("AREOF" or "the Company")
Statement Re: Sibiu Shopping City ("SSC") Loan Facility Event of Default
On 3 April 2013, AREOF announced that it had failed to make a EUR1m payment due under the terms of the EUR26.7m loan from a syndicate of banks led by KBC Bank. The SSC retail park consists of two projects - Sibiu 1 and Sibiu 2. Each project is supported by a debt facility from a syndicate of banks led by KBC Bank. The default on the EUR26.7m loan that supports Sibiu 2 came about because of a cash flow shortage at Sibiu 2 after the project gave a loan to Sibiu 1 thereby enabling the completion of an asset management initiative to physically connect the two projects.
The Company is pleased to announce that following an injection of loan capital into Sibiu 2, the outstanding EUR1m payment has been met in full and the default remedied.
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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