3 Jun 2014 16:00
3 June 2014
Arricano Real Estate plc
RayON Shopping and Entertainment Complex
Further to an announcement made on 12 March 2014, Arricano Real Estate plc ("Arricano" or the "Company") (AIM:ARO), a leading retail real estate developer and operator in Ukraine, confirms the claim lodged with the Commercial Court in Kiev that resulted in an ex-parte ruling imposing a temporary ban on the alienation of Shopping and Entertainment Complex RayON has, as expected, been dismissed. Consequently, all restrictions on the Company relating to this ruling have been lifted.
Acting Chief Executive Officer Yarema Kovaliv, said: "As we said in March, we knew this spurious claim had no legal foundation and with the Court's decision clearly validating our position, we can now continue to progress the various value enhancing opportunities we have identified in the RayOn Complex."
For further information please contact:
Arricano Real Estate plc | Tel: +380 44 569 6708 |
Yarema Kovaliv, Acting CEO | |
Nominated Adviser and Joint Broker | |
Smith & Williamson Corporate Finance Limited | Tel: +44 (0)20 7131 4000 |
Azhic Basirov | |
Joint Broker | |
Whitman Howard Limited | Tel: +44 (0)20 7087 4555 |
Ranald McGregor-Smith | |
Financial PR | |
Novella | Tel: +44 (0)20 3151 7008 |
Tim Robertson / Ben Heath |