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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| East Euro Prop. | LSE:EEP | London | Ordinary Share | GB00B0XQ3R24 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 28.50 | 24.00 | 33.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMEEP
RNS Number : 6152R
Eastern European Property Fund Ltd
12 December 2016
Eastern European Property Fund Limited
("EEP" or the "Company")
Sale agreed for Romanian subsidiary
12 December 2016
EEP announces that an agreement has today been signed to sell its Romanian subsidiary, Southern Properties SRL, the holding company for the property located in Bucharest.
The consideration is expected to be EUR 1.50 million (c. GBP 1.27 million) after allowing for local transaction costs and related company costs. This compares to a valuation of the Romanian operations at 30 June 2016 of EUR 1.68 million (c. GBP 1.40 million).
EUR 1.16 million is payable on completion and the remaining EUR 0.34 million is payable in instalments by 30 June 2018. The deferred consideration will be secured by a charge on the underlying property.
It is currently anticipated that the sale will be completed before the end of 2016. Following the sale, EEP's property portfolio will be focused on Turkey and Bulgaria.
Market Abuse Regulation:
The information communicated in this announcement includes inside information. Eastern European Property Fund Limited has included this statement in this announcement in order to comply with the Market Abuse Regulation, which came into effect on 3 July 2016.
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Enquiries:
Company Secretary Steve Pearce (nominated
Elysium Fund Management adviser)
Limited Henry Freeman (corporate
broker)
Liberum Capital Limited
Tel: +44 1481 810100 Tel: +44 203 100 2000
www.elysiumfundman.com www.liberum.com
Company website: www.eepfl.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
December 12, 2016 11:16 ET (16:16 GMT)
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