Conversion of Swedish Krona balances into Sterling (0234E)
May 24 2012 - 4:46AM
UK Regulatory
TIDMNLD
RNS Number : 0234E
Nordic Land PLC
24 May 2012
Nordic Land plc (in Liquidation) (the "Company" and, together
with its subsidiaries, the "Group")
Conversion of Swedish Krona balances into Sterling
Following the announcement of 22 May 2012 the Board has, in
light of the risk of further adverse movements in the GBP:SEK
exchange rate, converted the majority of the Group's Swedish Krona
funds into Sterling.
The amount of the Distribution will be confirmed prior to
payment following the conclusion of a final tax review. Provided
that no significant tax exposures arise from this review the
Distribution is expected to total not less than 11 pence per share,
making a total distribution to shareholders of at least 21.5 pence
per share. As announced previously, further funds may be available
for distribution at the end of the wind up process.
The shares will continue to be eligible to be held in CREST
until shortly after the payment of the Distribution, which is
expected to be made by the end of June 2012.
For further information please contact:
Nordic Land plc
Ray Horney +44 (0) 1273 775225
SP Angel Corporate Finance LLP
Robert Wooldridge/ Tercel Moore +44 (0) 20 3463 2260
Matrix Corporate Capital LLP
Stephen Mischler +44 (0) 20 3206 7000
Bankside Consultants
Simon Rothschild +44 (0) 20 7367 8888
This information is provided by RNS
The company news service from the London Stock Exchange
END
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