Kimberly Enterprises Regulatory News (KBE)

8 Jan 2010 10:17



Engel East Europe N.V. 

Share purchase by controlling shareholder

Engel East Europe N.V. ('Engel' or 'the Company'), the AIM-listed Central and Eastern European high-end property developer (EEE: LN), has been notified by Azorim Investment Development & Construction Co. Ltd ('Azorim') that, on 27 October 2008 it acquired 1,625,732 Engel shares at 2.26p per share, and on 2 November 2008 it acquired a further 2,800,000 shares at 2.35p per share, representing in aggregate 5.0 per cent of the total issued share capital of the Company. These shares are held indirectly.

Azorim also holds directly 1,230,000 Engel shares, representing 1.4 per cent of the total issued share capital of the Company.

In addition, Azorim has a controlling interest in Engel General Developers Ltd, which holds 59,996,111 Engel shares representing 68.4 per cent of the issued share capital of Engel. Azorim therefore controls 74.8 per cent of the issued share capital of the Company. Azorim's equitable interest in Engel through its direct holdings and through its interest in Engel General Developers Ltd equates to approximately 52.9 per cent of the issued share capital of Engel.

Mr. Shaya Boymelgreen is a director of Engel and a director of Azorim.

ENDS

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