» Statement Regarding Legal Proceedings in Romania

Statement Regarding Legal Proceedings in Romania

Posted on: 11 July 2013


The company has noted the announcement released via the Regulatory News Service of the London Stock Exchange on 9 July 2013 by Argo Real Estate Opportunities Fund Limited, an AIM listed company with a market capitalisation of GBP10 million, (“AREOF”) regarding the commencement of legal proceedings against NEPI and Osterreichische Volksbanken-Aktiengesellschaft (“Volksbank”) in relation to Sibiu Shopping City (“SSC”).

Shareholders are advised that the company has received no formal notice of the commencement of any such legal proceedings.

As announced on 25 April 2013, NEPI has agreed to acquire the rights under the debt financing agreements for a portion of the debt in relation to SSC (“the Sibiu debt acquisition”), subject to contract, due diligence and various approvals.

Shareholders are advised that the board of directors is of the view that NEPI has at all times acted lawfully in relation to the Sibiu debt acquisition. Further announcements regarding this matter will be made as and when appropriate