24th Feb 2015 11:34
LONDON (Alliance News) - Shares in Kimberly Enterprises NV plunged Tuesday after the company said it expects the sale of a plot of land in the Czech Republic to complete later than originally anticipated.
The company said the buyer of the land has now made a deposit and it expects the sale to complete by March 18. It had originally said it expected the deal to complete by February 17.
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.
Shares in Kimberly were down 55% to 0.125 pence on Tuesday, making it the worst performer in the London Main Market.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Kimberly Enterprises