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Disposal

29 Jul 2015 14:53

RNS Number : 4656U
Kimberly Enterprises N.V.
29 July 2015
 

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

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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