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The 10p trade. Odd And May
Update to AIM Cancellation and TASE Admission timetable avoid Further to the announcement by the Company on 17 November 2016 in relation to the Settlement Plan, the Company announces that TASE Admission and AIM Cancellation will now become effective on 22 December 2016, instead of 21 December as previously notified.
Here
Interesting!!!
Nigel Wright, Chairman, commented: "The third quarter has seen continuing solid progress for the Company, in particular at our principal residential project, Triumph Park, St. Petersburg. We have achieved higher than forecast sales of apartments in the first phase, and have already launched phase two, where we are experiencing similarly strong sales. We have also secured additional bank financing for Triumph Park despite continuing poor liquidity in the credit markets and this affirms the market view of both the scheme and Mirland's management. "The success of this development, combined with the very high occupancy rates within our income producing office and retail investment portfolio is encouraging. Meanwhile we continue our work in actively progressing our development pipeline and identifying new opportunities. I remain confident that, given continuing stable market conditions, the quality of our existing and pipeline projects will enable us to generate long term value on behalf of our shareholders."
Operational Highlights · Continued progress at the Company's flagship project, Triumph Park in St. Petersburg: - Launch of sales campaign for Phase Two of Triumph Park and pre-sale of 203 out of the 630 units, representing over 30% of the phase; - New loan agreement signed with SberBank of Russia Bank ("SberBank" or the "Bank") to provide a line of credit of approximately $47.5 million (the "Loan") to finance the construction of Phase Two; ongoing strong sales of Phase One with an additional 72 apartments sold, taking total sales to 480 units out of 510, subject to contract, representing a projected income of approximately US$63 million to be recognized in H1 2013 according to IFRS standards; · In September 2012, the Company entered into a new non-revolving US$50 million refinancing loan agreement with SberBank for two of its Moscow office investment assets, Hydro and MAG comprising part of the Mirland Business Centre. The US$50 million loan is for a seven year term, at fixed interest of 9.5%, payable quarterly. · Acquisition of an additional 10% of MirLand's jointly controlled entity Inomotor LLC, which owns an office building with a leasable area of approximately 11,000 sqm in the Century Project, for a total consideration of US$1.5 million in cash, taking the Company's interest to 61%; · Renovation of the MAG fire-damaged building has been completed and negotiations to re-let the space are now at an advanced stage, which will increase the lettable space by 7,200 sqm.
MIRLAND CONTINUES GOOD PROGRESS WITH EARNINGS GROWTH AND STRONG SALES MirLand, one of the leading international residential and commercial property developers in Russia, today announces its interim results for the nine months ended 30 September 2012. Financial Highlights: · Total revenues up 30% to US$43.7 million (nine months ended 30 September 2011: US$33.6 million) due to improved occupancy rates in yielding properties, the receipt of proceeds from a compromise agreement with Raiffeisen Bank, and income from house sales at the Western Residence project in Perkhushkovo; · Net operating income ("NOI") from investment properties up 69% to US$25.3 million (nine months ended 30 September 2011: US$15.0 million), due to improved occupancy, reduced operating expenses and increased income from rent indexation; · EBITDA up 41% to US$7.9 million (nine months ended 30 September 2011: US$5.6 million); · General and administrative expenses reduced by 12% to US$10.3 million (nine months ended 30 September 2011: US$11.7 million); · Positive cash flow from operating activities of US$9.7 million (nine months ended 30 September 2011: negative cash flow of US$9.8 million), supported by receipts from strong pre-sales of units at Triumph Park development; · Loss of US$7.3 million (nine months ended 30 September 2011: net income of US$28.3 million) due to currency movements; appreciation of the Rouble against the US Dollar of approximately 6% resulted in nominal depreciation of commercial assets at the same rate. The nominal depreciation was compensated for by an increase in foreign currency translation reserve; · Total assets up 5.1% to US$777.3 million during the year to date (31 December 2011: US$739.6 million), of which 93% are property and land assets; · Shareholders' equity US$345.3 million at 30 September 2012, equating to 44% of total assets (31 December 2011: US$347.1 million); · Net leverage decreased to 41.3% of total assets (31 December 2011: 43.9%). In January 2012, the Company repaid the remaining balance of Shareholders' loans amounting to approximately US$6.4 million (including accumulated interest).
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Cheers.
thats looking good chartwise, did well at the end of the day My blog is at theel1tetrader.blogspot.com
My best mover today was CRND