EBP East Balkan

 

TIDMEBP 
 
RNS Number : 8282O 
Equest Balkan Properties PLC 
13 March 2009 
 
 
 
 
 
13 March 2009 
 
 
Equest Balkan Properties plc ("EBP") 
 
 
Breach of Covenant 
 
 
 
 
 
 
EBP announces that its subsidiary SC. Rivium Galeria Mall SRL., owner of Moldova 
Mall in Iasi, Romania, is in breach of covenants contained in a non-recourse 
mortgage loan made in 2006 by Bank Austria Creditanstalt AG. 
 
 
SC. Rivium Galeria Mall is a single asset 100% subsidiary of EBP and this breach 
is not expected to impact any of EBP's other assets or borrowings. 
 
 
At the time of the last published valuation of EBP's assets Moldova Mall 
represented 4% of NAV. 
 
 
Bank Austria Creditanstalt AG has issued a default notice and the parties are in 
active discussions, the outcome of which will be announced. 
 
 
EBP is not aware of any other pending breaches of financial covenants by EBP or 
any subsidiary. 
 
 
 
 
For further information please contact: 
 
 
Equest Partners (for Equest Balkan Properties) 
+44 20 7240 7600 
Michael Uhler 
Naomi Kora 
 
 
KBC Peel Hunt Ltd - NOMAD 
+44 20 7418 8900 
Capel Irwin 
Alex Vaughan 
 
 
Arbuthnot Securities Limited 
+44 20 7012 2000 
Alastair Moreton 
Hannah Pearce 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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