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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Develica | LSE:DDE | London | Ordinary Share | GB00B151M860 | 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% | 0.011 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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TIDMDDE
RNS Number : 8331T
Develica Deutschland Ltd
05 October 2010
FOR IMMEDIATE RELEASE
5 October 2010
DEVELICA DEUTSCHLAND LIMITED:
FAIR VALUE ADJUSTMENT OF INTEREST RATE SWAPS
Develica Deutschland Limited ("the Company"), the AIM-listed German property
investor, today announces that the unaudited fair value adjustment of its
interest rate swaps as at 30 September 2010 showed a liability of approximately
EUR51.6m compared to a liability of EUR62.9m at 31 March 2010 (audited).
The Company emphasises that the value of the interest rate swaps has no cash
impact on the business or on the Company's debt covenants. The swaps are held in
a special purpose vehicle and the above liabilities would only crystallise on
disposal.
Develica intends to continue reporting the current fair value adjustment of its
interest rate swaps on a quarterly basis.
Ends.
Contact:
Derek Butler, Chairman, Develica.
Tel: 020 7016 1860
Philip Secrett, Grant Thornton Corporate Finance. Tel: 020 7383 5100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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