Termination of Acquisition
April 11 2002 - 9:15AM
UK Regulatory
RNS Number:3995U
Eurocity Properties PLC
11 April 2002
Eurocity Properties PLC
("Eurocity" or "the Company")
Termination of Acquisition Proposals
On 28 February 2002 the Company announced that it had entered into a conditional
agreement ("the Agreement") to acquire all of the issued share capital of
Uniplan Assets Limited and Fu Keung Venture Limited ("the Acquisition").
A condition of the Acquisition was the approval of Eurocity shareholders in
general meeting.
After discussions with Panther Securities Plc (the largest single shareholder in
Eurocity) who indicated that it would vote against the Acquisition it was
decided not to proceed.
The Company is liable for substantial costs incurred in respect of the
Acquisition and as a result will report a substantial loss for the year ended 31
March 2002. This will have a significant deleterious effect on the net asset
value of the Company.
Press Enquiries
Desmond Bloom; Eurocity Properties PLC 020 7286 4433
11 April 2002
This information is provided by RNS
The company news service from the London Stock Exchange
Energypathways (LSE:EPP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Energypathways (LSE:EPP)
Historical Stock Chart
From Jul 2023 to Jul 2024