R.G.I. International Limited Sale of Victory Park (8973P)

TIDMRGI

RNS Number : 8973P

R.G.I. International Limited

07 October 2013

7 October 2013

R.G.I. International Limited

(AIM: RGI)

SALE OF VICTORY PARK DEVELOPMENT FOR US$22 MILLION

R.G.I. International Limited ("RGI" or the "Company"), the AIM listed developer of quality residential and commercial properties in Moscow and the surrounding areas, today announces that it has sold its rights to develop the Victory Park hotel project ("Victory Park") for a total cash consideration of US$22.0m.

RGI has held the project for development since 2007. The disposal of this project is in line with the Company's strategy of focusing on the development of large scale residential schemes and frees up capital for the Company's other projects.

Enquiries:

 
 RGI 
  David Wood, Chief Financial Officer 
  Elena Lisitsyna, Head of Marketing 
  and PR                                      [phone] 
 
 Citigate Dewe Rogerson - Financial 
  PR Adviser 
  Tom Baldock 
  Jos Bieneman                           [phone] 
 Shore Capital - Nominated Adviser 
  Stephane Auton 
  Edward Mansfield                       [phone] 
 

About RGI

RGI is a property development and management company focusing on quality residential properties within Moscow and the surrounding areas. RGI is recognised for creating exceptional properties. Great care is taken in choosing the right sites, in central Moscow and the surrounding areas, for both high-end and economy class residential, leisure and retail properties. Our finished properties are characterized by high quality finish and exceptional design. RGI's management has been developing property in Moscow since the early 90s and the Company has been listed on the AIM market of the London Stock Exchange since December 2006.

For more information go to www.rgi-international.com

This information is provided by RNS

The company news service from the London Stock Exchange

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