14th Jun 2010 07:00
Engel East Europe N.V.
Trading Update
14 June 2010 - East Europe N.V. ('Engel' or 'the Company'), the AIM-listed Central and Eastern European property developer (EEE:L), today announces that it has been informed that the lending bank to E.G. Panorama EOOD ("E.G. Panorama"), the company that owns the Panorama project in Bulgaria, has appointed an executer to take possession of the project.
Engel has a 40% interest in E.G. Panorama. The loan to E.G. Panorama is non recourse to rest of the Engel group.
Enquiries:
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Engel East Europe N.V. |
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Assaf Vardimon |
Tel: +972 (9) 970 7004 |
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Libertas Capital Corporate Finance Limited |
Tel: +44 (0) 20 7569 9650 |
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Sandy Jamieson |
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Bankside Consultants |
Tel: +44 (0) 20 7367 8888 |
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Simon Bloomfield or Andy Harris |
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