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Kimberly Enterprises N.V.  -  KBE   

Update re Change of Control

Released 10:05 10-Jun-2016

RNS Number : 8609A
Kimberly Enterprises N.V.
10 June 2016
 

 

 

Kimberly Enterprises N.V.

("Kimberly" or the "Company")

Update re Change of Controlling Shareholder

 

Further to the announcement made on 12 April 2016, the Board of Kimberly, the AIM-quoted Eastern European residential property developer (KBE.L), has been notified that the transfer has now taken place of the ownership of 1,133,372 ordinary shares in Engel Resources and Development Limited ("ERD") previously held in trust by GBES Ltd ("GBES") to a company that is 100% owned by Mr Eli Gabay.

Accordingly, GBES holds 1,738,088 ordinary shares in ERD (representing 32.1% of the voting right of ERD) and Eli Gabay (through two different entities) holds a total of 1,669,927 ordinary shares in ERD (representing 30.9% of the voting right of ERD), including 536,555 ordinary shares in ERD owned by Eli Gabay prior to the splitting of the Shares.

ERD controls Engel General Developers Limited, which holds 68.35% of the issued share capital of Kimberly.

Accordingly, GBES holds a 21.9% economic interest in Kimberly and Eli Gabay holds a 21.1% economic interest in Kimberly.

In addition, Real Property Investment (Guernsey) Limited ("RPIGL") holds 6.44% of the voting rights and issued share capital of the Company. The shares of RPIGL and GBES are held by a discretionary settlement, of which certain members of the Morris family are potential beneficiaries, and which therefore has a combined economic interest in 28.34% of Kimberly.

 

For further information, please contact:

 

Kimberly Enterprises N.V.


Assaf Vardimon

+31 20 778 4141





Cairn Financial Advisers LLP (Nomad)


Sandy Jamieson, James Caithie

+44 207 148 7900



 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Update re Change of Control - RNS