ARO Arricano Real Estate Plc

Dow Jones received a payment from EQS/DGAP to publish this press release.

 
 
 Arricano Real Estate Plc (ARO) 
Arricano Real Estate Plc: Update re credit facilities and preliminary 
results date 
 
16-Apr-2019 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
This announcement contains inside information for the purposes of Article 7 
of EU Regulation 596/2014. 
 
Arricano Real Estate Plc ("Arricano" or the "Group") 
 
Update re credit facilities and preliminary results date 
 
The Board of Arricano (AIM: ARO) is pleased to provide an update on loan 
facilities provided by two lenders and extended credit provided by a 
contractor as follows: 
 
1) the Group has received written representations from Retail Real Estate 
OU ("RRE"), which is interested in 55.04% of the issued share capital of 
Arricano, and its affiliated company Bytenem Co Limited ("Bytenem") that 
lead the Board to believe that the Group will not be required to settle in 
2019 outstanding accrued interest and other accounts payable in the amount 
of USD 21,360 thousand plus further interest accruing during the year 
ending 31 December 2019; and 
 
2) the Group has received a letter from Barleypark Limited waiving its 
right to claim early repayment of the loan or any part thereof, including, 
but not limited to all or any part of the interest accrued, amounting in 
aggregate to USD 22,004 thousand until after 31 December 2019, plus 
further interest accruing during the year ending 31 December 2019; and 
 
3) the Group has received a comfort letter from one of its main 
constructors, stating that it will not claim payment of invoices amounting 
to USD3,772 thousand until after 31 December 2019. 
 
In addition, the Board anticipates releasing the preliminary results of the 
Group for the year ended 31 December 2018 on 17 April 2019. 
 
For further information, please contact: 
 
Arricano Real Estate plc Tel: +38 044 594 9471 
 
Mykhailo Merkulov 
 
Nominated Adviser and Broker Tel: +44 (0)20 7220 1666 
 
WH Ireland Limited Chris Fielding 
 
Financial PR Tel: +44 (0)20 3151 7008 
 
Novella Communications Limited Tim Robertson/Toby Andrews 
 
ISIN:          CY0102941610 
Category Code: MSCM 
TIDM:          ARO 
LEI Code:      213800F8AMPULEKXFX22 
Sequence No.:  8213 
EQS News ID:   800349 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

April 16, 2019 02:02 ET (06:02 GMT)

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