Conversion of Swedish Krona balances into Sterling (0234E)

TIDMNLD

RNS Number : 0234E

Nordic Land PLC

24 May 2012

Nordic Land plc (in Liquidation) (the "Company" and, together with its subsidiaries, the "Group")

Conversion of Swedish Krona balances into Sterling

Following the announcement of 22 May 2012 the Board has, in light of the risk of further adverse movements in the GBP:SEK exchange rate, converted the majority of the Group's Swedish Krona funds into Sterling.

The amount of the Distribution will be confirmed prior to payment following the conclusion of a final tax review. Provided that no significant tax exposures arise from this review the Distribution is expected to total not less than 11 pence per share, making a total distribution to shareholders of at least 21.5 pence per share. As announced previously, further funds may be available for distribution at the end of the wind up process.

The shares will continue to be eligible to be held in CREST until shortly after the payment of the Distribution, which is expected to be made by the end of June 2012.

For further information please contact:

Nordic Land plc

   Ray Horney                                                                 [phone] 

SP Angel Corporate Finance LLP

   Robert Wooldridge/ Tercel Moore                              [phone] 

Matrix Corporate Capital LLP

   Stephen Mischler                                                        [phone] 

Bankside Consultants

   Simon Rothschild                                                       [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

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