Mirland Development Corporation PLC Update re Proposed Restructuring Plan (7152N)
February 02 2016 - 2:00AM
UK Regulatory
TIDMMLD
RNS Number : 7152N
Mirland Development Corporation PLC
02 February 2016
2 February 2016
MirLand Development Corporation plc
("MirLand" or the "Company")
Company approaches the bondholders' trustees in order to
reexamine the Proposed Restructuring Plan
MirLand, one of Russia's leading residential and commercial
property developers, announces that it held a meeting on 31 January
2016 with the trustees of the Company's Series A-F bonds (the
"Trustees") at which certain terms of the Proposed Restructuring
Plan as announced on 17 November 2015 were discussed in light of
the recent, further sharp decline in the exchange rate of the
Russian Rouble against the US Dollar.
At this stage, no agreement has been reached with the
Trustees.
As mentioned by the Company in its announcement of 17 November
2015, the Proposed Restructuring Plan is subject to certain
conditions precedent and these have yet to be satisfied.
The Company will make further announcements in due course.
For further information, please visit
www.mirland-development.com, or contact:
MirLand Development Corporation +7 495 787 49
plc 62
Roman Rozental +7 499 130 31
roman@mirland-development.com 09
FTI Consulting
Dido Laurimore / Tom Gough
/ Ellie Sweeney +44 20 7327 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
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