LONDON (Alliance News) - Arricano Real Estate PLC Thursday said that a claim lodged with the Commercial Court in Kiev which had blocked, among other things, the potential sale of its shopping site SEC RayOn has been resolved in its favour.
The case dates back to March when Arricano said the ownership of its shopping centre in Ukraine's capital had been contested.
Arricano did not name the party which lodged the claim. However, the claim has now been dismissed.
"Whilst the claim did not influence Arricano's business activities, we are very pleased that the case has now been resolved," Acting Chief Executive Yarema Kovaliv said in a statement. The court's decision demonstrates that there was no foundation to their case and that Arricano's ownership of SEC RayON can be legally demonstrated."
The stock was untraded Thursday at 2.34 pence.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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