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West Pioneer Props (WPR)

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Tuesday 19 March, 2013

West Pioneer Props

Holding(s) in Company

RNS Number : 3555A
West Pioneer Properties Limited
19 March 2013
 



 

 

Press Release

19 March 2013

 

 

West Pioneer Properties Limited

 

("West Pioneer" or "the Company")

 

Holding in Company

 

West Pioneer Properties Limited (AIM: WPR) announces that it is aware that, Height Achiever Limited is interested in 4,775,000 ordinary shares of US$0.10 each in the Company ("Ordinary Shares"), representing 5.97 per cent of the current issued share capital of the Company.

 

The Company is also aware that SEB Asset Management Deutschland is no longer interested in any Ordinary Shares in the Company.

 

-Ends-

 

For further information:

West Pioneer Properties Limited


Nitin Dattani, Executive Director

Tel: +44 (0) 20 8424 0690

 

Shore Capital & Corporate Limited


Anita Ghanekar / Edward Mansfield

Tel: +44 (0) 20 7408 4090

 

Media enquiries:

Abchurch Communications


Sarah Hollins / Joanne Shears

Tel: +44 (0) 20 7398 7709

[email protected]

www.abchurch-group.com

 



Notes to Editors

 

West Pioneer Properties Limited (AIM:WPR) is a leading developer and operator of retail-led, mixed use developments in west and southern India, primarily in Tier II cities. West Pioneer was established to capitalise on the virtually unpenetrated organised retail environment in India, the rapidly increasing middle class, greater transparency in the property market, and improved infrastructure development which provides access to the market.  

 

The retail side to West Pioneer acquires the land and then develops, leases and manages the shopping malls. The residential development segment develops and sells residential property.  West Pioneer currently has three developments in Kalyan, Aurangabad and Nashik. 

 

West Pioneer's first shopping mall, The Metro Centre, in Kalyan, 30 miles north-east of Mumbai is fully operational. Leasing at the mall stands at approximately 74 per cent, and the mall is operationally profitable and generating surplus cash. The residential development at Kalyan currently consists of two towers, which are under construction.  Each tower consists of 178 apartments and as of 31 January 2011, a total of 267 apartments have been sold.  The Company is nearing completion on the structure of Metro Plaza, the commercial office space development at Kalyan.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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