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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Reconstruction Capital Ii Limited | LSE:RC2 | London | Ordinary Share | KYG741521028 | 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% | 0.035 | 0.025 | 0.045 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Trusts | -2.1M | -2.94M | -0.0217 | -1.38 | 4.07M |
From Apr 2019 to Apr 2024
TIDMRC2
RNS Number : 6478N
Reconstruction Capital II Ltd
25 September 2019
25 September 2019
Reconstruction Capital II Limited
Disposal of last plot of Policolor S.A. site
Reconstruction Capital II Limited ("RC2" or the "Company") announces that its 40%-owned investee company Policolor S.A. ("Policolor") has today sold the last plot of land on its main Theodor Pallady Bulevard Bucharest site, comprising 3.2 hectares, for a total price of EUR5.2 million, of which an advance of EUR1 million had already been received over 2017 and 2018. Originally, Policolor was due to receive the remaining balance of EUR4.2 million in the summer of 2019. However, pursuant to negotiations with the buyers, EUR3.4 million was received today, a further EUR0.1 million is due to be received in November 2019, and EUR0.7 million represents a "holdback" amount in respect of certain warranties and indemnities provided by Policolor, to be released, if applicable, in September 2020. Policolor's bankers have agreed to Policolor paying out a dividend of up to EUR2 million out of the land proceeds, subject to certain conditions being met, of which RC2's share would be EUR0.8 million. Policolor intends to make dividend payments to the extent permitted by its bankers over 2019-2020, subject to its cashflow allowing it to make such distributions.
For further information, please contact:
Reconstruction Capital II Limited
Cornelia Oancea / Anca Moraru
Tel: +40 21 316 7680
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett
Tel: +44 (0) 20 7383 5100
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
DISLLFSIAVIEFIA
(END) Dow Jones Newswires
September 25, 2019 06:44 ET (10:44 GMT)
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