Kimberly Enterprises Share News (KBE)

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Chief Executive Leaves As Kimberly Enterprises Gets New Majority Owner

Tue, 22nd Mar 2016 13:59

LONDON (Alliance News) - Kimberly Enterprises NV on Tuesday said its chief executive has resigned and it has a new owner.

The Eastern European residential property developer said Liron Or has resigned as chief executive and will leave the company at the end of March.

The company also said the transfer of control of shares in Engel Resources & Development Ltd, which owns 68% of Kimberly though its Engel General Developers Ltd subsidiary, has been completed.

The shares are now owned by GBES Ltd and Gabay Group Ltd, an Israel-based real estate company.

Kimberly shares more than doubled in value on Tuesday, up to 0.698 pence and the best performer in the AIM All-Share.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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