Eastern European Property Regulatory News (EEP)

23 Mar 2006 08:00

Eastern European Property Fund Ltd23 March 2006 Eastern European Property Fund Limited £20 million fundraising The Board of Eastern European Property Fund Limited (the "Company") announcesthat the placing by Collins Stewart Limited raised gross proceeds of £20million. The Company's issued share capital comprises 20,000,000 ordinaryshares of 1p each (the "Shares"). All the Shares in the Company have today been admitted to trading on theAlternative Investment Market of the London Stock Exchange. The Company's objective is to provide Shareholders with a high level of incomeand potential for significant capital growth by investing in property in themajor urban areas of Turkey, Romania, Ukraine and Bulgaria (the "TargetCountries"). The Company intends to invest in a range of office, retail, industrial andresidential properties in the Target Countries, but with an initial focus onoffice and retail property. The Company's primary policy will be to provide theequity financing to purchase existing or newly built properties. Collins Stewart Fund Management Limited has been appointed by the Company as theManager. Collins Stewart Property Fund Management Limited, a property fundmanagement company and a subsidiary of the Manager, will provide propertymanagement and advisory services. Active Property Investments Limited will beresponsible for researching, sourcing and acquiring investments in the TargetCountries. --oo-- For further information, please contact: Hugh Field Collins Stewart Limited Tel: 020 7523 8000 23 March 2006 Collins Stewart Limited, which is authorised and regulated by the FinancialServices Authority in the conduct of investment business, is acting exclusivelyfor Eastern European Property Fund Limited and for no-one else in connectionwith the placing and will not be responsible to anyone other than EasternEuropean Property Fund Limited for providing the protections afforded tocustomers of Collins Stewart Limited or for providing advice in relation to theissue. ENDS This information is provided by RNS The company news service from the London Stock Exchange