Disposal

Kimberly Enterprises N.V.

("Kimberly" or the "Company")

Disposal

Kimberly, the AIM-listed Central and Eastern European property developer (KBE:L), announces that it has agreed to sell its 100% owned subsidiary, Arces International B.V. ("Arces"), to a third party for a nominal consideration. Arces has no material assets and negative equity of approximately €3.7m. The disposal will result in an estimated book profit of €3.7m in Kimberly's consolidated financial statements. The disposal does not provide any cash benefit to the Company, which will continue to have a substantial net asset deficit once the transaction is completed.

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