Release of Deferred Sales Proceeds
February 05 2010 - 5:41AM
UK Regulatory
TIDMECPC
RNS Number : 7476G
European Convergence Property CoPLC
05 February 2010
5 February 2010
EUROPEAN CONVERGENCE PROPERTY COMPANY PLC
("ECPC" OR "THE COMPANY")
Release of Deferred Sales Proceeds
Further to announcement made by the Company on 27 January 2009, and the updates
given in the Company's subsequently released interim and final results for the
year to 30 June 2009, ECPC today announces that the Company expects to receive
the net balance of the deferred sales proceeds during the first quarter of 2010.
As a result, the sum of approximately EUR1.578m will be added to the Company's
current unrestricted cash balance of approximately EUR1.75m. The Company is now
working with its advisors to secure the most suitable mechanism for returning
monies to shareholders.
For further information please contact:
Enquiries:
European Convergence Property Company plc +44 (0)1624 640200
Anderson Whamond
Charlemagne Capital +44
(0)20 7518 2100
Michael Russell/Christopher Fitzwilliam Lay
Panmure Gordon (UK) Limited +44 (0)20
7459 3600
Hugh Morgan/Stuart Gledhill
Smithfield Consultants +44
(0)20 7903 0669
John Kiely/ Gemma Froggatt
Website: www.europeanconvergence.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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