The company, which focuses on residential and retail schemes in countries including
European Convergence said
The company said it has been engaging with shareholders, and its talks suggests there is little or no enthusiasm for a reinvestment cycle in these regions.
"Therefore the directors believe that it is not in the best interests of the shareholders to invest in any new projects," European Convergence said.
The group also said recent events in
On the back of this, the company maintained its policy of not paying a dividend and retaining its funds to protect its current investments.
At an operaing level, the company said it was a quiet year with few schemes to speak of. Only one grade-A office building was delivered in
No shopping centres were opened in
European Convergence shares were quoted down 4.4% at
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