XXI Century Investments Public Ltd Finalisation of key terms of Banking Guarantees (5339H)
20 Juni 2013 - 5:45PM
UK Regulatory
TIDMXXIC
RNS Number : 5339H
XXI Century Investments Public Ltd
20 June 2013
XXI Century Investments Public Limited
("XXI Century" or the "Company")
Finalisation of key terms of Banking Guarantees.
As was previously announced, on 9 January 2013, a wholly owned
subsidiary of the Company (Mriya-Invest) signed an investment
agreement with a French DIY operator, established in Ukraine (the
"DIY Operator") (the "DIY Investment Agreement").
As also announced, on 24 April 2012, the Company's wholly owned
subsidiary (Mriya-Invest) signed separate investment agreement with
a subsidiary of Auchan SA, an international retail chain of
supermarkets and hypermarkets, with its head office in France.
Both Investment Agreements are in relation to the development of
the Vyrlytsa, Bazhana Lane site in Kiev (the "Vyrlytsa
Project").
Under the terms of the Investment Agreements the Company has an
obligation to provide the DIY Operator and the subsidiary of Auchan
SA with a Bank Guarantee of approximately 30 per cent. of the value
of the respective Investment Agreements. The DIY Operator and the
subsidiary of Auchan SA (together the "Investors") will in turn
also provide the Company with Bank Guarantees of approximately 70
per cent. of the value of each respective Investment Agreement. The
Investment Agreements are conditional upon provision of these Bank
Guarantees.
The Company is pleased to announce that it has signed the
following:
- between the subsidiary of Auchan SA (Auchan Real Estate
F.C.A.U) and Mriya-Invest - an additional agreement, in which the
parties came to the following understanding:
(i) Agreement on the terms of all Bank Guarantees in relation to
the Auchan Investment Agreement.
(ii) Agreement to exchange the finalised Bank Guarantees
relating to the Auchan Investment Agreement no later than 31 July
2013.
- between the DIY Operator and Mriya-Invest - an additional
agreement, in which the parties came to the following
understanding:
(i) Agreement on the terms of the Bank Guarantee in favor of the
DIY Operator for approximately 30 per cent of the value of the DIY
Investment Agreement.
(ii) Agreement to finalise the terms of the Bank Guarantees in
favor of Mriya-Invest and the terms of the Legal Expert
Collaborative Engagement Agreement by 12 July 2013.
(iii) Agreement to exchange the finalised Bank Guarantees no later than 31 July 2013.
For further information, please contact:
XXI Century Investments Public Limited +380 44 2000 457
ir@21.com.ua
Iryna Tkachenko, Investor Relations Manager
Shore Capital and Corporate Limited +44 (0) 20 7408 4090
Anita Ghanekar
Toby Gibbs
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBUGDLCXDBGXG
XXI Century (LSE:XXIC)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
XXI Century (LSE:XXIC)
Historical Stock Chart
Von Jun 2023 bis Jun 2024