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Zeno Capital Limited – Market Announcement
Hamilton, Bermuda – 24 October, 2014 – In a filing with the Bermuda Stock Exchange (“BSX”), Zeno Capital Limited (the “Company”; Ticker: ZENOCAP.VI) released an acquisition notice. The filing stated:
“Notice to all security holders of Zeno Capital Limited.
Summary
Zeno Capital Limited has successfully concluded the purchase of the shares and claims of Abatewood Limited for €3,000,000.00.
Property Description
Abatewood Limited’s sole asset comprises the largest food and household goods distribution center in the Republic of Ireland. The property, located 16km from the center of Dublin, was constructed in 2007 and totals 883,550 sq. ft. It is currently one of the 10 largest free standing buildings by usable space in the world. It is leased to Tesco Ireland Limited on a 25 year lease that expires in 2032.Further the lease is guaranteed by Tesco Plc. The directors believe value of the property to be €130,000,000.00
Motivation and Intention
Zeno Capital Limited’s motivation behind the purchase is to enhance value through:
• The active asset management of the property which would include, inter alia, the introduction of renewable energy sources and waste management systems on site.
• The completion of an innovative corporate restructure in the next quarter.
• The restructure of interest rate derivatives to take advantage of historically low interest rates in the Eurozone.
• The injection of capital to substantially improve the health of the Abatewood Limited’s balance sheet.
For more queries, please contact info@zenocap.com "
Bermuda Listing Sponsor:
Clarien BSX Services Ltd.
Ms. Kim Gibson