Acquisition of Debt

RNS Number : 1299F

Summit Germany Limited

16 February 2018

 

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

Summit Germany Limited

(the "Company")

Acquisition of Debt

16 February 2018

Summit Germany Limited, the AIM-listed German commercial property investment company, is pleased to announce that it has acquired a debt secured over Company's properties (the "Acquired Debt") from a current lender for a consideration of €12.2 million (the "Transaction"). The remaining term of the Acquired Debt is 6.3 years and the annual interest expenses are approximately €452k (3.7% p.a.), which will be payable to the Company following the Transaction.

For further information please contact:

Summit Germany Limited	Tel: [phone]
Zohar Levy - Managing Director
Itay Barlev (Braun) - Finance Director
Non-Executive Chairman	Tel: [phone]
Harry Hyman
Carey Group, Company Secretary	Tel: [phone]
Sara Bourne
Liberum Capital Limited, Nominated Adviser and Joint Broker	Tel: [phone]
Chris Clarke / Jill Li
Cenkos Securities, Joint Broker	Tel: [phone]
Mark Connelly
Russell Kerr / Selwyn Jones (Broking)

 

END

 

 

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