13th Aug 2009 10:34
13 August 2009
European Islamic Investment Bank plc ("EIIB" or "EIIB Group")
Property Assets
The Board of EIIB announces that The House Limited ("THL"), which is a subsidiary of the EIIB Pan-European Islamic Real Estate Fund and which holds a portfolio of UK property of the EIIB Group (the "Property Portfolio"), has requested its finance provider to appoint a Receiver in respect of the Property Portfolio. The appointment is effective from 12 August 2009.
At 31 December 2008, the Property Portfolio was valued at £38.7m and had associated liabilities of £39.1 m.
There is no recourse to EIIB in respect of the obligations of THL.
ENDS
Enquiries:
EIIB plc Tel: +44(0)20 7847 9900
Keith McLeod, Finance Director
M.A. Mohaimin Chowdhury, Company Secretary
Evolution Securities Tel: +44(0)20 7071 4300
Chris Sim
Bobbie Hilliam
Fishburn Hedges Tel: +44(0)20 7839 4321
Michelle James
Riz Issa
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