19 Jun 2008 17:28
| FOR IMMEDIATE RELEASE | 19 June 2008 |
Engel East Europe N.V.
Share purchase by controlling shareholder
Engel East Europe NV ("Engel" or "the Company"), the AIM-listed Central and Eastern European high-end property developer (EEE:LN), was notifed on 16 June 2008 by Azorim Investment Development & Construction Co. Ltd ("Azorim") that, on 20 May 2008, it acquired 1,230,000 Engel shares, representing 1.40 per cent of the total issued share capital of the Company, at a price of 58 pence per share.
Prior to this transaction, Azorim did not directly hold any shares in the Company.
Following this transaction, Azorim is the effective owner of 46.45 per cent of the Company.
Mr Shaya Boymelgreen is a director of Engel and the Chairman of Azorim.
ENDS
Enquiries:
| Engel East Europe N.V. | |
| Eitan Padan | Tel: +972 (9) 970 7001 |
| Sam Salman | Tel: +1 (646) 214 2000 |
| Samuel Hibel | Tel:+972 (9) 970 7004 |
| Dawnay, Day Investment Banking | Tel: +44 (0) 20 7630 4140 |
| Gerald Raingold | |
| Nick Lovering | |
| Bankside Consultants | Tel: +44 (0) 20 7367 8888 |
| Simon Bloomfield | |
| Andy Harris |