TIDMSPFL

RNS Number : 9210T

Sofia Property Fund Limited

19 December 2012

COMPANY ANNOUNCEMENT

FOR IMMEDIATE RELEASE 19 December 2012

SOFIA PROPERTY FUND LIMITED

(the "Company")

Company Registration Number: 43191

Shareholder Update

The Company announced on 28 June 2012 that it had entered into non-binding heads of terms for a significant acquisition of a group of companies with a complementary real estate portfolio to that of the Company ("Acquisition"). The Acquisition, when made, would constitute a reverse take-over under the AIM Rules.

The Company also announced that it was in advanced stage discussions with a third party providing funding for the Acquisition. These discussions have progressed extremely slowly since then but still continue. Whilst there can be no guarantees on the point, the directors remain of the view that the Company will be successful in securing the funding in question.

The Company also remains in discussions with the Pluto Partnership ("Pluto") with a view to deferring further the repayment of the outstanding loan due to Pluto and crystallisation of security granted therefor. As announced previously, if such deferral cannot be agreed, this would leave the Company with a working capital shortfall.

The Company's shares were suspended on 28 June 2012 because it had not published its report and accounts for the year ended 31 December 2011 within the deadline required under the AIM Rules. Whether or not the Company is successful in securing the funding referred to above, it will not now be in a position to publish its report and accounts for the year ended 31 December 2011 or interim results for the six months ended 30 June 2012 before 28 December 2012.

Accordingly, it is expected that admission of the Company's shares to trading on AIM will be cancelled with effect from 7.00 a.m. on 31 December 2012 but that, conditional on funding and entry into of definitive documentation for the Acquisition, the Company will seek re-admission of its shares to trading on AIM subsequently.

Further announcements will be made as appropriate.

Enquiries:

Sofia Property Fund Limited

Charles Burton

Panmure Gordon (UK) Limited

Dominic Morley

Phone: +44 207 614 8388

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCMMMMZZLLGZZM

Sofia Prop (LSE:SPFL)
過去 株価チャート
から 5 2024 まで 6 2024 Sofia Propのチャートをもっと見るにはこちらをクリック
Sofia Prop (LSE:SPFL)
過去 株価チャート
から 6 2023 まで 6 2024 Sofia Propのチャートをもっと見るにはこちらをクリック