Escrow Update (5046X)
16 Février 2012 - 8:00AM
UK Regulatory
TIDMNLD
RNS Number : 5046X
Nordic Land PLC
16 February 2012
Nordic Land plc (in Liquidation): expiry of deadline for claims
against Borlange escrow monies
Nordic Land plc (in Liquidation) ("Nordic Land" or the "Company"
and together with its subsidiaries, the "Group") announces that, in
relation to the amount of SEK 2.5 million (GBP0.2 million) held in
escrow (the "Escrow Amount") to cover potential warranty claims
following the disposal of Lackeraren 3 in Borlange ("Borlange"),
the deadline for the buyer of Borlange to claim against the Escrow
Amount has now expired and no such claims have been notified to or
received by the Group.
As notified previously, the Escrow Amount remains subject to a
charge in favour of the purchaser of the Group's former property in
Sicklaon ("Sickla"), and will not be released to the Group until
replacement mortgage certificates for Sickla are issued to that
purchaser, expected to occur by 31 March 2012.
For further information please contact:
Nordic Land plc
Ray Horney +44 (0) 1273 775225
SP Angel Corporate Finance LLP
Robert Wooldridge +44 (0) 20 3463 2260
Matrix Corporate Capital LLP
Stephen Mischler +44 (0) 20 3206 7000
Bankside Consultants
Simon Rothschild +44 (0) 20 7367 8888
This information is provided by RNS
The company news service from the London Stock Exchange
END
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