Offer Update
August 11 2009 - 3:44AM
UK Regulatory
TIDMRTY
RNS Number : 2023X
Black Sea Global Properties Limited
11 August 2009
Not for release, publication or distribution in or into the United States of
America, Canada, Australia, the Republic of South Africa or Japan
11 August 2009
BLACK SEA GLOBAL PROPERTIES LIMITED
RUTLEY EUROPEAN PROPERTY LIMITED - LONDON STOCK EXCHANGE LISTING TO BE RETAINED
On 7 August 2009, the board of Black Sea Global Properties Limited ("BSGP")
announced that, on the closing of the Increased Offer for Rutley European
Property Limited ("Rutley" or the "Company"), it owned or had received valid
acceptances in respect of 158,107,495 Rutley Shares, representing, in aggregate,
approximately 75.56 per cent. of the existing issued redeemable preference share
capital of Rutley.
The board of BSGP is pleased to announce that, following the sale of 4,200,000
Rutley Shares at 7.25 pence per share on 10 August 2009, its holding has been
reduced to 153,907,495 Rutley Shares, representing approximately 73.55 per cent.
of the existing issued redeemable preference share capital of Rutley.
As a result, after taking into account other shareholdings deemed not to be
shares in public hands, Rutley is no longer in breach of Listing Rule 6.1.19 (3)
and the Company's listing on the London Stock Exchange will be retained.
Terms used but not defined in this announcement shall have the meaning given to
them in the Increased Offer Document posted to Rutley Shareholders on 10 July
2009.
Enquiries
+----------------------------------------------+----+----------------------+
| Lazard & Co., Limited (Financial Adviser to | | +44 (0) 20 7187 2000 |
| BSGP) | | |
| Patrick Long | | |
| Michael Bressler | | |
+----------------------------------------------+----+----------------------+
| Oriel Securities Limited (Broker to BSGP) | | +44 (0) 20 7710 7600 |
| Tom Durie | | |
| Sapna Shah | | |
+----------------------------------------------+----+----------------------+
| Financial Dynamics (PR adviser to BSGP) | | +44 (0) 20 7831 3113 |
| Richard Sunderland | | |
| Stephanie Highett | | |
| Rachel Drysdale | | |
+----------------------------------------------+----+----------------------+
Lazard & Co., Limited ("Lazard"), which is regulated by the Financial Services
Authority, is acting for BSGP in connection with the Increased Offer and no-one
else and will not be responsible to anyone other than BSGP for providing the
protections afforded to customers of Lazard or for providing advice in relation
to the Increased Offer.
Oriel Securities Limited ("Oriel"), which is regulated by the Financial Services
Authority, is acting for BSGP in connection with the Increased Offer and no-one
else and will not be responsible to anyone other than BSGP for providing the
protections afforded to customers of Oriel or for providing advice in relation
to the Increased Offer.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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