Regulatory Story
Go to market news section View chart   Print
RNS
Kimberly Enterprises N.V.  -  KBE   

Further update re Marina Dorcol

Released 16:35 28-Dec-2017

RNS Number : 5068A
Kimberly Enterprises N.V.
28 December 2017
 

 

Kimberly Enterprises N.V.

("Kimberly" or the "Company")

 

Further update re Marina Dorcol

 

Further to the third quarter trading update announced on 29 November 2017, Kimberly Enterprises N.V., the AIM-listed Central and Eastern European property developer (KBE: L), is pleased to announce that, following the termination of the lease agreement between Marina Dorcol d.o.o ("MD") (a 95% owned subsidiary of the Company) with the Municipality of Belgrade (the "Municipality"), the Company has received €2.2 million in compensation from the Municipality in full and final settlement of the termination.

Notwithstanding the receipt of these funds, the Company's financial position remains weak.  As at 30 September 2017, the Group had total liabilities amounting to €27.0m, which exceeded its total assets which amounted to €3.7m, and had negative equity of €23.3m.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

 

Kimberly Enterprises N.V.


Sagee Kadosh

+31 20 778 4141





Cairn Financial Advisers LLP (Nomad)


Sandy Jamieson, James Caithie

+44 207 213 0880



 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCUWONRBSAUUAA
Close


London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

 


Further update re Marina Dorcol - RNS