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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 : 2285F
Argo Real Estate Opportunities Fd
13 June 2012
13 June 2012
Argo Real Estate Opportunities Fund Limited
("AREOF" or "the Company")
Statement Re: Proton Bank Loan Facility
The Board is pleased to announce that it has reached an agreement with Proton Bank ("Proton") regarding the Company's defaulting Proton facilities.
As announced on 21 December 2011, AREOF declared a default on its EUR 25M Loan Facility Agreement entered in to on 19 December 2007 and an associated EUR 0.9m loan from Proton ("the Proton Facility").
Under the terms agreed between the parties, the Proton Facility will be refinanced by way of a new EUR 29.3m credit line (the "New Facility") from Proton. The New Facility shall mature on 31 December 2016, carry an interest rate of 12 month Euribor plus a margin of 4.6% and give the Company the right to capitalize 50% of total interest due for the first three interest periods (payable on 31 December 2012, 31 December 2013 and 31 December 2014). The New Facility shall enjoy the same security package as the previous facility. It is a condition to the New Facility being made available that the Company shall pay EUR 2.1m of overdue interest to Proton Bank. The agreement is subject to final documentation.
Enquiries:
Argo Real Estate Opportunities Fund Limited David Clark, Chairman +44 (0)1481 735 540 finnCap Limited (Nominated Adviser) Matthew Robinson Henrik Persson +44 (0) 207 220 0500 Shore Capital (Joint Broker) Edward Mansfield +44 (0) 20 7408 4090 Bishopsgate Communications (Financial PR) Nick Rome +44 (0) 20 7562 3350
This information is provided by RNS
The company news service from the London Stock Exchange
END
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