London Stock Exchange has suspended trading in the shares of the XXI Century Investments Public Limited (Cyprus), the holding company of the XXI Century (Kyiv), anticipating completion of the talks on extra funding, the stock exchange said in the press-release.
The talks are still underway, the XXI Century Investments Public Limited stressed.
Without additional funding the company cannot meet the liabilities taken.
According to the rules of the Alternative Investment Market of London Stock Exchange (AIM), the company is due to publish the report on the six-month performance by September 30.
If failed, the share trading will be suspended.
As Ukrainian News earlier reported, XXI Century is a major property development company that has been in operation since 1995. It engages in development and management of projects involving shopping, office, hotel, logistics, and residential real estate.
Ovaro Holding Limited (50% of which is owned by businessman Oleksandr Yaroslavskyi's DCH) owns 58.26% of the shares in XXI Century.
Yaroslavskyi and Oleh Salmin control approximately 30.05% of the share capital of XXI Century through Ovaro.