29 Jul 2015 14:53
Kimberly Enterprises N.V.
("KE" or the "Company")
Disposal
The Board of KE, the AIM-quoted Eastern European residential property developer (KBE.L), is pleased to announce the sale of a residential development plot in Czech Republic ("Veleslavin phase 2") for a total cash consideration of CZK 63 million (approximately €2.3 million).
The net proceeds of the disposal are expected to be approximately €1.8 million (of which KE's share is 25% - €0.45 million). The profit of the transaction is not expected to be material and will be recorded in the accounts of KE under the "share of loss of equity-accounted investments, net of tax".
For further information, please contact:
Kimberly Enterprises N.V. | |
Assaf Vardimon | +31 20 778 4141 |
Cairn Financial Advisers LLP (Nomad) | |
Sandy Jamieson | +44 207 148 7900 |