KDD Group NV Valuation Report and Delisting Update (6943N)
October 02 2012 - 5:00AM
UK Regulatory
TIDMKDDG
RNS Number : 6943N
KDD Group NV
02 October 2012
2 October 2012
KDD Group NV
("KDD Group" or the "Company")
Valuation Report and Delisting Update
KDD Group announces that the valuation report prepared by DTZ
Kiev B.V. ("DTZ"), which reviewed the Company's property portfolio
as at 30 June 2012, was approved by the Company's board of
directors (the "Board") on 28 September 2012.
The equity value calculated for each portfolio project (with the
exception of the Sky Towers and Zazymia projects, which are the
subject of an ongoing sales process) has been prepared on two
separate bases: on a going concern basis; and under forced sale
conditions (implying a marketing period limited to a maximum of six
months) and takes into account the liabilities of each of the
projects. The valuation will serve as a basis for the Board to
assess future offers, in the context of making disposals of any of
the projects in the portfolio.
The following table summarises the valuation results:
Project Name Equity Value under forced sale Net Going Concern Project Value
conditions* (on Equity Value basis) **
Lucky $ 847,000 $1,105,000
------------------------------- --------------------------------
Zhytomyr Highway $ 5,319,000 $6,860,000
------------------------------- --------------------------------
PecherSky -$175,000 $5,657,000
------------------------------- --------------------------------
Kureni $ 1,418,000 $1,890,000
------------------------------- --------------------------------
World Trade Center -$ 3,175,000 $1,957,000
------------------------------- --------------------------------
Diplomat Park $ 393,000 $1,136,000
------------------------------- --------------------------------
Metro $739,000 $739,000
------------------------------- --------------------------------
* Implies a marketing period limited to a maximum of six
months.
** Reflects the value of the real estate assets on an arm's
length basis less development costs incurred to date and those
forecast to complete each project.
The full and comprehensive valuation report prepared by DTZ is
available in electronic form on the Company's website at
www.kddgroup.com.ua.
In addition, further to the announcement of 9 August 2012, the
Company expects that admission of its ordinary shares to trading on
AIM will be cancelled with effect from 0700 tomorrow.
**ENDS**
Enquiries:
KDD Group N.V. Tel: +38 050 516 6091
Petro Radchuk
Strand Hanson Limited Tel: +44 (0) 20 7409 3494
Stuart Faulkner / James Spinney
This information is provided by RNS
The company news service from the London Stock Exchange
END
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