1st Oct 2015 11:49
Kimberly Enterprises N.V.
("Kimberly" or the "Company")
Change of Director
Further to the announcement made on 20 May 2015, the Board of Kimberly, the AIM-quoted Eastern European residential property developer (KBE.L), has been notified that the term for satisfaction of all of the conditions included in the agreement for the transfer of the 2.87 million ordinary shares in Engel Resources and Development Limited ("ERD") held by GBES Limited (through advocates Yury Nechushtan and Eyal Neiger as receivers) (the "Shares") to Tazlina Global Ltd. and Gabbay Group Ltd. has been extended to 1 November 2015. The Shares represent 53% of the voting rights and issued share capital of ERD. ERD controls Engel General Developers Limited, which holds 68.35% of the issued share capital of Kimberly.
In connection with the above agreement, Mr. Oded Shamir's positions as Chairman of the Board of Directors of ERD and as a director of Kimberly were terminated on 19 September 2015 and 30 September 2015 respectively.
A further announcement will be made in due course.
For further information, please contact:
Kimberly Enterprises N.V. | |
Assaf Vardimon | +31 20 778 4141 |
Cairn Financial Advisers LLP (Nomad) | |
Sandy Jamieson, Avi Robinson | +44 207 148 7900 |
Related Shares:
Kimberly Enterprises