Trading Statement
October 27 2009 - 11:14AM
UK Regulatory
TIDMEEE
RNS Number : 4532B
Engel East Europe N.V.
27 October 2009
Engel East Europe N.V.
Trading Update
Tuesday, 27 October 2009 - Since the announcement of interim results on 17
August 2009, Engel East Europe N.V. ('Engel' or 'the Company'), the AIM-listed
Central and Eastern European property developer (EEE:L), has continued to focus
on cost control and generating cash. However the Company has been unable to
complete the disposal of the Panorama project and sales of residential units
from its completed projects remain slow.
The Company is therefore in discussions with its parent company group to secure
additional funding support to cover its short term working capital requirements.
The Company estimates that it has an immediate capital need of approximately
EUR400,000.
Further announcements will be made in due course.
Enquiries:
+--------------------------------------------+---------------------------------+
| Engel East Europe N.V. | |
+--------------------------------------------+---------------------------------+
| | |
+--------------------------------------------+---------------------------------+
| Samuel Hibel | Tel: +972 (9) 970 7004 |
+--------------------------------------------+---------------------------------+
| | |
+--------------------------------------------+---------------------------------+
| Libertas Capital Corporate Finance Limited | Tel: +44 (0) 20 7569 9650 |
+--------------------------------------------+---------------------------------+
| Sandy Jamieson | |
+--------------------------------------------+---------------------------------+
| | |
+--------------------------------------------+---------------------------------+
| Bankside Consultants | Tel: +44 (0) 20 7367 8888 |
+--------------------------------------------+---------------------------------+
| Simon Bloomfield or Andy Harris | |
+--------------------------------------------+---------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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