EBP East Balkan

 

TIDMEBP 
 
RNS Number : 7897E 
Equest Balkan Properties PLC 
29 December 2009 
 
 
 
29 December 2009 
EQUEST BALKAN PROPERTIES PLC 
("EBP" or the "Company") 
 
 
Sale of Euro Car Park 
 
 
EBP announces that it has today entered into an agreement for the sale of its 75 
per cent. subsidiary, Trigon Properties BV, the owner of Euro Car Park, a mixed 
use development site in Bucharest, to Hilburg International Limited.  Under the 
terms of the agreement, the total consideration payable by the purchaser in 
relation to EBP's 75 per cent. stake in the development amounts to Euro 0.5 
million in cash (equivalent to the Directors' valuation of the investment at 30 
June 2009), plus the provision of a cash backed guarantee amounting to Euro 320k 
to a local authority which releases the security previously provided by EBP. The 
cash proceeds will be used by EBP to strengthen its working capital. 
Completion of the sale is expected in early January. 
 
 
-ENDS- 
 Further information, please contact: 
 
 
Arbuthnot Securities Limited (NOMAD and broker) 
+44 (0)20 7012 2000 
Alastair Moreton 
Hannah Pearce 
 
 
 
 
IOMA Fund and Investment Management Limited (Administrator to EBP) 
+44 (0)1624 681250 
Graham Smith 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCZGMZZKLLGLZM 
 

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