Final Results - 31 December 2009


 

TIDMATE 
 
RNS Number : 4953J 
Agua Terra Limited 
31 March 2010 
 

  NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF 
                              SOUTH AFRICA OR JAPAN 
 
 
31 March 2010 
 
                              AGUA TERRA LIMITED 
                                (the "Company") 
 
                          AUDITED FINANCIAL STATEMENTS 
 
 
Agua Terra Limited (LSE: ATE), the first development company dedicated 
exclusively to high quality mixed-use leisure real estate projects in Southeast 
Europe to be quoted on AIM, is pleased to announce its results for the period 3 
July 2008 to 31 December 2009 and provide an update on operational progress. 
 
Operational highlights 
 
·     The Company has received planning permission on all its sites 
 
·     Land holdings have been valued at EUR10m, an uplift of 25% over the 
acquisition price 
 
·     Initial villa sales have been booked 
 
Commenting on the Annual Results, Lord Balfour, Chairman said: 
"The Company finds itself in a comfortable position with zero borrowings and no 
immediate credit obligations. Whilst development operations are downsized to 
conserve cash resources and all development is put on hold, we will continue 
evaluating all available opportunities for further asset acquisitions and/or 
disposals." 
 
Markos Kashiouris, Chief Executive, said: 
"We are pleased to report the profitable completion of the first full year of 
our operations. Notwithstanding the global economic downturn and issues relating 
specifically to the Greek economy, Agua Terra has been value accretive since the 
inception of its operations. Against this backdrop, we will continue to evaluate 
our strategic options with a view to enhance shareholder value." 
 
Copies of the Company's audited annual accounts for the period from 
incorporation to 31 December 2009 (the "Accounts") will be posted to 
Shareholders today and are available on the Company's website at 
www.agua-terra.com.  Printed copies of the Accounts are also available, free of 
charge, for one month from the date hereof from the Company's registered office, 
197 Main Street, Road Town, Tortola, British Virgin Islands. 
 
 
 
                                    - end - 
 
Enquiries to: 
 
Agua Terra 
Markos Kashiouris, Chief Executive           Tel: +44 (0) 20 7581 1423 
 
Fairfax I.S. PLC 
James King / Rachel Rees                        Tel: +44 (0) 20 7598 5368 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACSGIGDXUDXBGGB

Agua Terra (LSE:ATE)
過去株価チャート
から 5 2024 まで 6 2024