19th Jan 2015 09:32
LONDON (Alliance News) - Kimberly Enterprises NV shares jumped on Monday morning after the company said it has struck a deal to sell a plot of land in the Czech Republic for CZK195 million, or around EUR7 million.
The net proceeds from the sale of the land, which has been designated for residential purposes, are expected to be around EUR7 million, with Kimberly to get EUR3 million.
Kimberly expects to book a EUR1.3 million profit on the deal, which it expects to complete by February 17.
Shares in the Eastern European residential property developer rose 93% on the news to 0.60 pence, one of the best performers in the AIM All-Share and a new 52-week high.
By Sam Unsted; [email protected]; @SamUAtAlliance
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