Arricano Real Estate PLC Shopping and Entertainment Complex RayON (7965Q)

TIDMARO

RNS Number : 7965Q

Arricano Real Estate PLC

04 September 2014

4 September 2014

Arricano Real Estate plc

("Arricano" or the "Company")

Shopping and Entertainment Complex ("SEC") RayON

Further to the announcements made on 12 March and 3 June 2014, Arricano (AIM:ARO), a leading retail real estate developer and operator in Ukraine, confirms that the claim lodged with the Commercial Court in Kiev that resulted in an ex-parte ruling imposing a temporary ban on the alienation of SEC RayON, has been resolved in favour of Arricano. Consequently, further to all restrictions being lifted in June, the claim has now been dismissed.

Acting Chief Executive Officer, Yarema Kovaliv, said: "Whilst the claim did not influence Arricano's business activities we are very pleased that the case has now been resolved. The Court's decision demonstrates that there was no foundation to their case and that Arricano's ownership of SEC RayON can be legally demonstrated."

For further information please contact:

 
Arricano Real Estate plc                      Tel: +380 44 569 6708 
Yarema Kovaliv, Acting CEO 
 
Nominated Adviser and Joint Broker 
Smith & Williamson Corporate Finance Limited  Tel: +44 (0)20 7131 4000 
Azhic Basirov 
 
Joint Broker 
Whitman Howard Limited                        Tel: +44 (0)20 7087 4555 
Ranald McGregor-Smith 
 
Financial PR 
Novella                                       Tel: +44 (0)20 3151 7008 
Tim Robertson / Ben Heath

This information is provided by RNS

The company news service from the London Stock Exchange

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