OREANDA-NEWS. May 02, 2012. “Citadele Asset Management Ukraine” LLC announces the initiation of liquidation of Closed-End Investment Fund “Citadele Ukrainian Real Estate fund” (hereinafter – “the Fund”) due to expiry of its maturity period in April 2012, reported the press-centre of Citadele.

A liquidation committee will be set up for the Fund to implement the liquidation procedure by the middle of May 2012. Sales of the existing assets of the Fund will be carried out, the final balance will be developed and settlement of accounts with investors of the Fund will be effected in accordance with the procedure and deadlines set forth in the legislation of Ukraine.

The planned completion of selling the Fund’s assets and receipt of funds is January – February 2013. Subsequently, the asset managing company will have three months for settling accounts with investors. The Fund will be considered liquidated after settling accounts with the Fund’s investors and deleting it from the official register.