Ottoman Fund Limited (The) Sale of a Portion of Riva Land (0469S)
01 Novembre 2013 - 4:54PM
UK Regulatory
TIDMOTM
RNS Number : 0469S
Ottoman Fund Limited (The)
01 November 2013
1 November 2013
THE OTTOMAN FUND LIMITED
Ottoman Fund Announces Sale of a Portion of its Riva Land
The Ottoman Fund Ltd. is pleased to announce that it has sold
106,207 m(2) of its Riva land parcel for $12 million plus VAT to
EAG Tourism & Construction AS. The sale price is at a small
premium to the Company's last published book value. The Ottoman
Fund expects that the entire $12 million minus a 1% fee to Ottoman
Fund's investment advisor will be available for distribution to
shareholders following a court approved capital reduction in
Turkey. It is expected that the court approval will occur within
three months. Following this transaction, 824,793 m(2) of Riva land
remain available for sale or development.
Enquiries
N+1 Singer 020 7496 3000
James Maxwell/Matt Thomas
Company Secretary
Vistra Fund Services Limited 01534 504 700
This information is provided by RNS
The company news service from the London Stock Exchange
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