ADC African Development Corporation (ADC), ISIN DE000A1E8NW9, a fast growing financial services group focusing on the frontier markets of sub-Saharan Africa, has successfully negotiated an exit for its 11.5% shareholding in Ecobank Zimbabwe for USD 5.2 million equaling approx. EUR 4.0 million. As of 30 September 2011, ADC had valued its shareholding in Ecobank Zimbabwe at EUR 1.25 million, so this transaction results in a realized profit of EUR 2.75 million. Furthermore, this shows ADC's conservative accounting policy which is guided by realistic exit scenarios. The transaction is effective as of 28 December 2011 and will be included in ADC's vfkf usvq wvcvihy 6434.
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