Suspension of Listing Timetable (2059F)
April 20 2011 - 1:00AM
UK Regulatory
TIDMNLD
RNS Number : 2059F
Nordic Land PLC
20 April 2011
Nordic Land
("Nordic Land" or the "Company")
Suspension of Listing Timetable
In a circular to shareholders dated 16 September 2010
shareholders were notified that it was intended to sell the
Company's entire property portfolio and to commence the winding up
of the Company.
These proposals were duly approved by shareholders in General
Meeting on 7 October 2010.
Following the sale of the property in Sicklaon in November 2010
the Company became an "investing company" for the purpose of the
AIM Rules for Companies ("AIM Rules"), its "investing policy" for
the purpose of the AIM Rules being the winding up of the Company.
Under AIM Rule 15 Nordic Land has until close of business on 27
November 2011 to implement its investing policy (ie. complete its
winding up). If it has not done so, the Company's shares will be
suspended. If, a further six months later (ie. close of business on
28 May 2012), the Company has still failed to implement its
investing policy, the listing of the shares will be cancelled.
As previously announced the Directors intend to distribute the
net cash resources of the Company by way of two distributions. The
first of these, amounting to 10.5p per share, was made on 11
February 2011 and the second, amounting to an estimated 12.0p per
share, is expected to be made in the first quarter of 2012.
For further enquiries:
Nordic Land Plc - In Liquidation
Ray Horney, Chairman Tel: +44 20 7367 8888
(c/o Bankside Consultants)
SP Angel Corporate Finance LLP
Robert Wooldridge/Tercel Moore Tel: +44 20 7647 9650
Matrix Corporate Capital LLP Tel: +44 20 3206 7000
Stephen Mischler
Bankside Consultants
Simon Rothschild/Louise Mason Tel: +44 20 7367 8888
This information is provided by RNS
The company news service from the London Stock Exchange
END
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