XXIC Xxi Century

TIDMXXIC

RNS Number : 5339H

XXI Century Investments Public Ltd

20 June 2013

XXI Century Investments Public Limited

("XXI Century" or the "Company")

Finalisation of key terms of Banking Guarantees.

As was previously announced, on 9 January 2013, a wholly owned subsidiary of the Company (Mriya-Invest) signed an investment agreement with a French DIY operator, established in Ukraine (the "DIY Operator") (the "DIY Investment Agreement").

As also announced, on 24 April 2012, the Company's wholly owned subsidiary (Mriya-Invest) signed separate investment agreement with a subsidiary of Auchan SA, an international retail chain of supermarkets and hypermarkets, with its head office in France.

Both Investment Agreements are in relation to the development of the Vyrlytsa, Bazhana Lane site in Kiev (the "Vyrlytsa Project").

Under the terms of the Investment Agreements the Company has an obligation to provide the DIY Operator and the subsidiary of Auchan SA with a Bank Guarantee of approximately 30 per cent. of the value of the respective Investment Agreements. The DIY Operator and the subsidiary of Auchan SA (together the "Investors") will in turn also provide the Company with Bank Guarantees of approximately 70 per cent. of the value of each respective Investment Agreement. The Investment Agreements are conditional upon provision of these Bank Guarantees.

The Company is pleased to announce that it has signed the following:

- between the subsidiary of Auchan SA (Auchan Real Estate F.C.A.U) and Mriya-Invest - an additional agreement, in which the parties came to the following understanding:

(i) Agreement on the terms of all Bank Guarantees in relation to the Auchan Investment Agreement.

(ii) Agreement to exchange the finalised Bank Guarantees relating to the Auchan Investment Agreement no later than 31 July 2013.

- between the DIY Operator and Mriya-Invest - an additional agreement, in which the parties came to the following understanding:

(i) Agreement on the terms of the Bank Guarantee in favor of the DIY Operator for approximately 30 per cent of the value of the DIY Investment Agreement.

(ii) Agreement to finalise the terms of the Bank Guarantees in favor of Mriya-Invest and the terms of the Legal Expert Collaborative Engagement Agreement by 12 July 2013.

   (iii)       Agreement to exchange the finalised Bank Guarantees no later than 31 July 2013. 

For further information, please contact:

   XXI Century Investments Public Limited                                          +380 44 2000 457 

ir@21.com.ua

Iryna Tkachenko, Investor Relations Manager

Shore Capital and Corporate Limited +44 (0) 20 7408 4090

Anita Ghanekar

Toby Gibbs

This information is provided by RNS

The company news service from the London Stock Exchange

END

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