Expiry of Deadline for Claims (3085Q)
17 October 2011 - 11:05PM
UK Regulatory
TIDMNLD
RNS Number : 3085Q
Nordic Land PLC
17 October 2011
Nordic Land plc (in Liquidation): expiry of deadline for claims
against Terminalen escrow monies
Nordic Land plc (in Liquidation) ("Nordic Land" or the "Company"
and together with its subsidiaries, the "Group") announces that, in
relation to the amount of SEK 15 million (GBP1.4 million) held in
escrow (the "Escrow Amount") to cover potential warranty claims
following the disposal of Terminalen 1 in Helsingborg
("Terminalen"), the deadline for the buyer of Terminalen to claim
against the Escrow Amount has now expired and no such claims have
been notified to or received by the Group.
As notified previously, the Escrow Amount remains subject to a
charge in favour of the purchaser of the Group's former property in
Sicklaon ("Sickla"), and will not be released to the Group until
replacement mortgage certificates for Sickla are issued to that
purchaser, expected to occur in the first quarter of 2012.
For further information please contact:
Nordic Land plc
Ray Horney +44 (0) 1273 775225
SP Angel Corporate Finance LLP
Robert Wooldridge +44 (0) 20 3463 2260
Matrix Corporate Capital LLP
Stephen Mischler +44 (0) 20 3206 7000
Bankside Consultants
Simon Rothschild +44 (0) 20 7367 8888
This information is provided by RNS
The company news service from the London Stock Exchange
END
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