Argo Real Estate Opportunities Fd Statement Re: Proton Bank Loan Facility (6883U)

TIDMAREO

RNS Number : 6883U

Argo Real Estate Opportunities Fd

02 January 2013

02 January 2012

Argo Real Estate Opportunities Fund Limited

("AREOF" or "the Company")

Statement Re: Proton Bank Loan Facility

The Board wishes to announce that AREOF failed to make an interest payment of EUR 409,090 due by 31 December 2012 under the terms of its EUR 29.3m loan facility from Proton Bank. This omission was caused by delays the Company has experienced in upstreaming excess cash generated by its Riviera Shopping City retail park in Odessa, Ukraine. AREOF has sought a 2 month deferral of settlement to 28 February 2012 from Proton Bank.

Enquiries:

 
 Argo Real Estate Opportunities Fund Limited 
  David Clark, Chairman                         +44 (0)1481 231100 
 
 finnCap Limited (Nominated Adviser) 
  Matthew Robinson 
  Henrik Persson                                +44 (0) 207 220 0500

This information is provided by RNS

The company news service from the London Stock Exchange

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