TIDMQIL

RNS Number : 3347E

Qannas Investments Limited

17 October 2018

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Qannas Investments Limited

("Qannas" or the "Company")

Disposal

Qannas Investments Limited, the closed- ended investment company listed on the AIM market, is pleased to announce the disposal of its stake in Capital Hotel DOO ("Capital Hotel") an SPV whose only investment is CentreVille Hotel ("CentreVille") (a luxury hotel in Podgorica, Montenegro) to Capital Investment LLC ("CI") for a total consideration of EUR9.5m received up front in cash (the "Disposal").

This represents, in aggregate with the EUR1.1m received during 2017 from Capital Hotel, a total return of EUR1.4m since its original investment in Capital Hotel in 2016 which is a return of 7.4% (in EURO) per annum over the investment period.

The Disposal is a related party transaction pursuant to the AIM Rules for Companies as CI is a substantial shareholder of Abu Dhabi Financial Group, the ultimate controlling shareholder of the Company's investment manager, ADCM Ltd and of which Mustafa Kheriba, Non-Executive Director of the Company is a director. The independent directors of Qannas (being Chris Ward and Richard Prosser), having consulted with the Company's nominated adviser finnCap, consider the terms of the Disposal to be fair and reasonable insofar as the Company's independent shareholders are concerned.

For further information please contact:

Qannas Investments Limited Tel: 01534 844 806

Nadia Trehiou

ADCM Ltd. (Investment Manager) Tel: +971 2 639 0099

Mustafa Kheriba

finnCap Ltd Tel: 020 7220 0500

Henrik Persson/William Marle (Corporate Finance)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DISGCBDGXDBBGIR

(END) Dow Jones Newswires

October 17, 2018 05:25 ET (09:25 GMT)

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