Qannas Investments Limited Investment Update (2559I)
22 Novembre 2018 - 4:33PM
UK Regulatory
TIDMQIL
RNS Number : 2559I
Qannas Investments Limited
22 November 2018
Qannas Investments Limited
("Qannas" or the "Company")
Repayment of Loan Investment
Qannas Investments Limited, the closed- ended investment company
listed on the AIM market, is pleased to announce the exit from its
debt investment of EUR7m ("Original Loan") in Integrated Eastern
European Fund ("IEEF") made in August 2014.
The Original Loan was provided to allow IEEF to complete the
acquisition of two land plots in high growth tourist areas of
Bulgaria and Montenegro. In July 2016, QIL exited partial portion
of the Original Loan, realizing $7.1m proceeds at that time.
Subsequent to this, QIL received a total $3.9m proceeds from IEEF.
Following the final proceeds in November 2018, the Company has now
exited 100% of its exposure in the Original Loan along with accrued
interest.
Mustafa Kheriba, a director of the Company was also previously a
director of IEEF, and of its owner, Integrated Capital.
For further information please contact:
Qannas Investments Limited Tel: 01534 844 806
Nadia Trehiou
ADCM Ltd. (Investment Manager) Tel: +971 2 639 0099
Mustafa Kheriba
finnCap Ltd Tel: 020 7220 0500
Henrik Persson/William Marle (Corporate Finance)
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END
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