MLD Mirland Dev.

TIDMMLD

RNS Number : 5831X

Mirland Development Corporation PLC

01 September 2015

1 September 2015

MirLand Development Corporation plc

("MirLand" or the "Company")

Potential Reduction of Beneficial Holding of Controlling Shareholder

MirLand, one of the leading international residential and commercial property developers in Russia, announces that it was informed on 30 August 2015 by the CEO of Jerusalem Economy Ltd. ("JEC") (a company which is controlled by Mr Eliezer Fishman ("Mr Fishman"), a non-executive director of the Company, and which also beneficially owns a majority holding in the Company) of the conditional sale by Bank Leumi to a company controlled by the Nakash family and its partners of debt owed by private companies controlled by Mr Fishman/his family which is secured over approximately 40% of the total issued share capital of JEC.

If the transaction completes, the Company understands that this will reduce the beneficial holding of Mr Fishman/his family in MirLand.

The Company will provide further updates in due course.

 
MirLand Development Corporation    +7 495 787 49 
 plc                                62 
 Roman Rozental                     +7 499 130 31 
 roman@mirland-development.com      09 
FTI Consulting 
 Dido Laurimore / Ellie Sweeney 
 / Tom Gough                       +44 20 3727 1000 
 Investec Bank plc 
  Jeremy Ellis / David Anderson    +44 20 7597 4000 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

HOLUAORRVVAWOUR

(END) Dow Jones Newswires

September 01, 2015 02:04 ET (06:04 GMT)

Mirland (LSE:MLD)
Historical Stock Chart
From Mar 2024 to Apr 2024

Mirland (LSE:MLD)
Historical Stock Chart
From Apr 2023 to Apr 2024