Ottoman Fund Limited (The) Sale of Riva Land (2403H)

TIDMOTM

RNS Number : 2403H

Ottoman Fund Limited (The)

15 May 2014

The Ottoman Fund Limited

Sale of Riva Land

The Ottoman Fund Limited has sold the remainder of its Riva land for $101 per m(2), or a total of $32,210,482.67 plus VAT to Danis Tourism and Construction A. and Levent Selamoglu. The sale price approximates the Company's last published book value for Riva. Taxes will be payable on the profits from the sale, which primarily result from currency gains.

The Ottoman Fund's Board of Directors expects to announce a return of capital once a capital reduction in Turkey has been completed.

Enquiries:

 
 N+1 Singer 
  James Maxwell / Nick Donovan    020 7496 3000 
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 Company Secretary 
  Vistra Fund Services Limited    01534 504 700 
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This information is provided by RNS

The company news service from the London Stock Exchange

END

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