10 July 2018
Arricano Real Estate plc
("Arricano" or the "Company")
New relationship agreement
Further to its announcement on 30 November 2018, Arricano yesterday entered into a new relationship agreement with its principal shareholder, Retail Real Estate OU ("RRE"). RRE, which owns 55.04% of the issued voting rights of the Company, is wholly owned by Hillar Teder.
Under the new relationship agreement with Mr Teder, RRE and WH Ireland Limited, Arricano's nominated adviser, (the "Agreement"), Mr Teder and RRE are now entitled to utilise the voting rights attaching to their 56,835,940 ordinary shares of the Company. However, they have agreed, inter alia, to procure that Arricano is capable at all times of carrying on business independently of Mr Teder and RRE and that any agreements between the Arricano Group and Mr Teder or RRE will be subject to the approval of directors of the Company independent of Mr Teder and RRE.
For further information, please contact:
CEO: Tel: +380 44 569 6708
Arricano Real Estate plc
Mykhailo Merkulov
Financial PR: Tel: +44 (0)20 3151 7008
Novella Communications Limited
Tim Robertson
Nominated Adviser and Broker: Tel: +44 (0)20 7220 1666
WH Ireland Limited
Chris Fielding