Argo Real Estate Opportunities Fd Statement re Legal Proceedings in Romania (9413I)

TIDMAREO

RNS Number : 9413I

Argo Real Estate Opportunities Fd

09 July 2013

9 July 2013

Argo Real Estate Opportunities Fund Limited

("AREOF" or "the Company")

Statement Re: Initiation of Legal Proceedings in Romania

The Company announces that it has commenced legal proceedings in the Romanian courts against New Europe Property Investments plc ("NEPI") and Osterreichische Volksbanken-Aktiengesellschaft ("Volksbank"). NEPI is a competitor to AREOF in Romania. Volksbank is a lender to AREOF's Sibiu Shopping City ("SSC") retail park in the Romanian city of Sibiu.

AREOF's legal claim in Romania relates to (i) the unlawful use and dissemination of confidential information regarding SSC; (ii) damaging public statements that have been made regarding SSC and; (iii) unfair competition that AREOF has suffered in Romania in relation to SSC.

The Company's Investment Manager has significant experience of dealing with legal situations of this kind and will take all actions necessary to protect the Company's assets.

Enquiries:

 
 Argo Real Estate Opportunities Fund Limited 
  David Clark, Chairman                         +44 (0)1481 231101 
 
 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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