15th May 2014 13:48
The Ottoman Fund Limited
Sale of Riva Land
The Ottoman Fund Limited has sold the remainder of its Riva land for $101 per m², or a total of $32,210,482.67 plus VAT to Danis Tourism and Construction A.Ş and Levent Selamoglu. The sale price approximates the Company's last published book value for Riva. Taxes will be payable on the profits from the sale, which primarily result from currency gains.
The Ottoman Fund's Board of Directors expects to announce a return of capital once a capital reduction in Turkey has been completed.
Enquiries:
N+1 Singer James Maxwell / Nick Donovan
| 020 7496 3000 |
Company Secretary Vistra Fund Services Limited | 01534 504 700 |
Related Shares:
Ottoman Fund