NLD Nordic Land

TIDMNLD

RNS Number : 3085Q

Nordic Land PLC

17 October 2011

Nordic Land plc (in Liquidation): expiry of deadline for claims against Terminalen escrow monies

Nordic Land plc (in Liquidation) ("Nordic Land" or the "Company" and together with its subsidiaries, the "Group") announces that, in relation to the amount of SEK 15 million (GBP1.4 million) held in escrow (the "Escrow Amount") to cover potential warranty claims following the disposal of Terminalen 1 in Helsingborg ("Terminalen"), the deadline for the buyer of Terminalen to claim against the Escrow Amount has now expired and no such claims have been notified to or received by the Group.

As notified previously, the Escrow Amount remains subject to a charge in favour of the purchaser of the Group's former property in Sicklaon ("Sickla"), and will not be released to the Group until replacement mortgage certificates for Sickla are issued to that purchaser, expected to occur in the first quarter of 2012.

For further information please contact:

Nordic Land plc

Ray Horney +44 (0) 1273 775225

SP Angel Corporate Finance LLP

Robert Wooldridge +44 (0) 20 3463 2260

Matrix Corporate Capital LLP

Stephen Mischler +44 (0) 20 3206 7000

Bankside Consultants

Simon Rothschild +44 (0) 20 7367 8888

This information is provided by RNS

The company news service from the London Stock Exchange

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