5th Nov 2014 14:02
Kimberly Enterprises N.V.
("Kimberly" or the "Company")
Holding in Company
The Board of Kimberly has been notified that Engel Resources & Development Limited ("ERD") has reached an agreement with its bondholders to restructure the terms of its bonds. ERD holds 100% of Engel General Developers Limited ("EGD") which in turn holds 60 million shares in Kimberly representing 68.35% of the issued share capital of Kimberly.
As part of the agreement, EGD has today granted to the bondholders security over the 60 million shares in Kimberly held by EGD. In addition, ERD has pledged to the bondholders all future loan repayments made by Kimberly and Eurobul Limited (a wholly owned subsidiary of Kimberly) to ERD and assigned the pledges over the shares held by Kimberly in Marina Dorcol DOO ("MDD"), which owns the Marina Dorcol project in Serbia. The pledges over MDD shares were granted to ERD as part of the loan agreement between Eurobul, Kimberly and ERD.
For further information, please contact:
Kimberly Enterprises N.V. | |
Assaf Vardimon | +31 20 778 4141 |
Cairn Financial Advisers LLP (Nomad) | |
Sandy Jamieson | +44 207 148 7900 |
Related Shares:
Kimberly Enterprises