Exercise of Guarantee in resp

RNS Number : 3738F

Equest Investments Balkans Ltd

11 January 2010

 



EQUEST INVESTMENTS BALKANS LIMITED

("EIB" or the "Company")

Exercise of Guarantee in respect of TMD Loans

Further to the announcement on 31 December 2009, the Company has now been informed that, as expected, Raiffeisen Zentralbank Osterreich AG ("RZB") has received the balance of €17 million (plus accrued interest) due to be repaid to it by 31 December 2009 by calling the Citibank, N.A., Sofia Branch guarantee issued to RZB as part of the restructuring of TechnomarketDomo NV's ("TMD") debt facilities last summer (the "Citibank Guarantee").  This amount, in turn, was met by the State General Reserve Fund of Oman ("SGRF"), EIB's largest shareholder, under the terms of its counter indemnity granted in respect to the Citibank Guarantee.  The terms of the Citibank Guarantee, SGRF's counter indemnity to Citibank and the indemnity and security provided by EIB to SGRF were described in the announcement on the restructuring of the TMD debt facilities of 16 July 2009.

EIB will issue a further announcement shortly providing information in respect to its progress with the execution of its refocused strategy for its core assets and with its debt obligations.

Enquiries:

Equest Investments Balkans Limited	Ian Schmiegelow (Chairman) Natalie Weedon	Tel: + 44 20 7630 3350
Financial Dynamics	Ed Gascoigne-Pees Nick Henderson	Tel: + 44 20 7269 7132
Collins Stewart Europe Limited (Nomad)	Hugh Field	Tel: [phone]
KBC Peel Hunt Limited (Broker)	Capel Irwin	Tel: + 44 20 7418 8900

-ENDS-

 

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