AIM-listed Ukrainian real estate firm XXI Century Investments said on Wednesday that negotiations with local banks on the restructuring of its secured credit facilities have yet to be completed. This has resulted in a further delay in the publication of the firm's 2008 financial report.
AIM-listed Ukrainian real estate firm XXI Century Investments said on Wednesday that negotiations with local banks on the restructuring of its secured credit facilities have yet to be completed. This has resulted in a further delay in the publication of the firm's 2008 financial report.
Similarly, the interim financial statements for the six months to end-June this year have yet to be released.
XXI Century said in a statement: 'Whilst the main principles of the restructuring agreement have been reached, detailed binding documentation has yet to be finalised. The company expects to execute such documentation with the banks relatively shortly and, accordingly, it should enable the company's auditors to conclude their review and issue their opinion on the accounts for the year ending 31 December 2008.'
The suspension of trading in the company's shares - which ocurred in July - remains in place pending publication of the financial statements.
The Company will provide further updates in due course.
