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Arricano Real Estate Plc (ARO)
Arricano Real Estate Plc: Update re credit facilities and preliminary
results date
16-Apr-2019 / 07:00 GMT/BST
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of EU Regulation 596/2014.
Arricano Real Estate Plc ("Arricano" or the "Group")
Update re credit facilities and preliminary results date
The Board of Arricano (AIM: ARO) is pleased to provide an update on loan
facilities provided by two lenders and extended credit provided by a
contractor as follows:
1) the Group has received written representations from Retail Real Estate
OU ("RRE"), which is interested in 55.04% of the issued share capital of
Arricano, and its affiliated company Bytenem Co Limited ("Bytenem") that
lead the Board to believe that the Group will not be required to settle in
2019 outstanding accrued interest and other accounts payable in the amount
of USD 21,360 thousand plus further interest accruing during the year
ending 31 December 2019; and
2) the Group has received a letter from Barleypark Limited waiving its
right to claim early repayment of the loan or any part thereof, including,
but not limited to all or any part of the interest accrued, amounting in
aggregate to USD 22,004 thousand until after 31 December 2019, plus
further interest accruing during the year ending 31 December 2019; and
3) the Group has received a comfort letter from one of its main
constructors, stating that it will not claim payment of invoices amounting
to USD3,772 thousand until after 31 December 2019.
In addition, the Board anticipates releasing the preliminary results of the
Group for the year ended 31 December 2018 on 17 April 2019.
For further information, please contact:
Arricano Real Estate plc Tel: +38 044 594 9471
Mykhailo Merkulov
Nominated Adviser and Broker Tel: +44 (0)20 7220 1666
WH Ireland Limited Chris Fielding
Financial PR Tel: +44 (0)20 3151 7008
Novella Communications Limited Tim Robertson/Toby Andrews
ISIN: CY0102941610
Category Code: MSCM
TIDM: ARO
LEI Code: 213800F8AMPULEKXFX22
Sequence No.: 8213
EQS News ID: 800349
End of Announcement EQS News Service
(END) Dow Jones Newswires
April 16, 2019 02:02 ET (06:02 GMT)
