Trading Update
17 Novembre 2010 - 8:00AM
UK Regulatory
TIDMSQB
RNS Number : 3076W
Squarestone Brasil Limited
17 November 2010
17 November 2010
Squarestone Brasil Limited
(the "Company" or "Squarestone")
Trading update
Squarestone Brasil Limited (AIM: SQB.L; SQBW.L), the Anglo-Brazilian real estate
development and investment company, today announces an update on trading since
the Company's interim results announcement on 21 September.
Negotiations to secure a new joint venture partner for the Golden Square Mall
development that will also jointly develop a future pipeline of opportunities
remain ongoing. In recent months, Squarestone has also received a number of
credible approaches from new potential partners with prior retail expertise and
capital to commit which supports the Company's international approach to mall
design, development and management in Brazil. Whilst progress is frustrating,
Squarestone believes that when completed such joint venture agreements will be
of significant long term value to the Company and its shareholders. Squarestone
will provide a further update as and when an agreement is reached.
Due to the ongoing nature and complexity of these discussions combined with the
Christmas seasonal period, management anticipates that completion of Golden
Square will now be mid 2012.
Enquiries:
+------------------------------------+------------------------+
| Squarestone Brasil Limited | |
+------------------------------------+------------------------+
| Tim Barlow / Robert Sloss (London) | Tel: +44 (0)20 7534 |
| | 9066 |
+------------------------------------+------------------------+
| James Morse (Sao Paulo) | Tel: +55 11 3073 0730 |
+------------------------------------+------------------------+
| | |
+------------------------------------+------------------------+
| Liberum Capital Limited | |
+------------------------------------+------------------------+
| Chris Bowman / Ellen Francis / | Tel: +44 (0)20 3100 |
| Richard Bootle | 2000 |
+------------------------------------+------------------------+
| | |
+------------------------------------+------------------------+
| Kreab Gavin Anderson | |
+------------------------------------+------------------------+
| James Benjamin / Natalie Biasin | Tel: +44 (0)20 7074 |
| | 1800 |
| | |
+------------------------------------+------------------------+
Notes to Editors
Squarestone Brasil Limited (AIM: SQB.L, SQBW.L) is an Anglo-Brazilian real
estate investment and development company specialising in the Brazilian shopping
mall sector. The Company combines local real estate market knowledge with
international expertise in retailing, construction and development and is
focused on introducing to the Brazil shopping mall sector international
standards in terms of design, construction, operation and asset management.
Squarestone Brasil Limited is a Guernsey registered and domiciled company with
an operational headquarters in Sao Paulo and a London office. Its Ordinary
Shares and Warrants are traded on AIM where it was admitted to trading in April
2010. Squarestone Brasil was co-founded in 2007 by James Morse, Tim Barlow and
Robert Sloss.
Further information on Squarestone Brasil is available from the Company's
websitewww.squarestone.com.br
This information is provided by RNS
The company news service from the London Stock Exchange
END
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