NEP - New Europe Property Investments plc - Completion of Acquisition of Ingen
NEP
NEP
NEP - New Europe Property Investments plc - Completion of Acquisition of Ingen
Europe BV
New Europe Property Investments plc
(Incorporated and registered in the Isle of Man with registered number 001211V)
(Registered as an external company with limited liability under the laws of
South Africa, registration number 2009/000025/10)
AIM share code: NEPI
JSE share code: NEP
ISIN: IM00B23XCH02
("NEPI" or "the company")
COMPLETION OF ACQUISITION OF INGEN EUROPE BV
NEPI is pleased to announce the completion of the acquisition, through its
wholly-owned subsidiaries NE Property Cooperatief U.A. and New Europe Property
N.V., of Ingen Europe BV ("Ingen") on 29 December 2010 ("the effective date"),
as outlined in the company`s previous announcement dated 29 November 2010.
The effective date of the transaction is the date of transfer of ownership of
the shares in Ingen into the name of NEPI.
The final purchase price ("the final purchase price") will be determined
formulaically in terms of the acquisition agreement taking into account the net
operating income of the property, the indexation of rental income in January
2011 and the financial statements of Ingen and Floreasca Business Park S.R.L. as
at the effective date. As far as there is a difference between the final
purchase price and the estimated purchase price an adjustment amount will be
paid between the purchasers and the sellers.
30 December 2010
For further information please contact:
New Europe Property Investments plc +40 74 432 8882
Martin Slabbert
Nominated Adviser and Broker +44 20 7131 4000
Smith & Williamson Corporate Finance Limited
Azhic Basirov/Charles Combe
South African sponsor +27 11 283 0042
Java Capital
Date: 30/12/2010 14:00:02 Produced by the JSE SENS Department.
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