|
NEP
NEP
NEP - New Europe Property Investments Plc - Statement by New Europe Property
investments plc ("NEPI" OR "THE COMPANY") regarding Carpathian Plc
("CARPATHIAN") and withdrawal of cautionary
New Europe Property Investments plc
(Incorporated and registered in the Isle of Man with registered number 001211V)
(Registered as an external company with limited liability under the laws of
South Africa, registration number 2009/000025/10)
AIM share code: NEPI
JSE share code: NEP
ISIN: IM00B23XCH02
STATEMENT BY NEW EUROPE PROPERTY INVESTMENTS PLC ("NEPI" OR "THE COMPANY")
REGARDING CARPATHIAN PLC ("CARPATHIAN") AND WITHDRAWAL OF CAUTIONARY
On 22 April 2009 NEPI announced that it was considering a potential offer to
acquire the entire issued share capital of Carpathian at a price of EUR0.20 per
Carpathian share in cash (the "Proposed Offer"). The Proposed Offer has been
rejected by Carpathian. Subsequent to the rejection of the Proposed Offer
further discussions with Carpathian that included a possible share alternative
offer for those current shareholders of Carpathian who may not wish to dispose
of their investment in Carpathian also failed. NEPI confirms that discussions
with Carpathian concerning the Proposed Offer have been terminated. NEPI
reserves the right to make an offer at a lower price with the recommendation of
Carpathian and reserves the right to vary the form and/or mix of consideration.
Under Rule 2.8 of the City Code on Takeovers and Mergers, and except with the
consent of the Panel, the statement in the preceding paragraph will prevent NEPI
or anyone acting in concert with it from announcing an offer or possible offer
for Carpathian or taking certain other action within the next six months unless
there is a material change of circumstances or there has occurred an event which
is specified as enabling the statement to be set aside. Accordingly, for the
purposes of Rule 2.8 of the City Code, NEPI reserves the right (on behalf of
itself and anyone acting in concert with it) to announce an offer or possible
offer for Carpathian and/or to take any other action which would otherwise be
restricted under Rule 2.8 of the City Code within the next six months
(including the right to make or announce or participate in an offer or possible
offer at any price or on any terms whatsoever, including a price that is less
than EUR0.20) in the event that:
(1) the agreement or recommendation of the board of Carpathian is given to
the making of such an announcement or the taking of any such other
action;
(ii) a third party announces an offer or possible offer for Carpathian;
(iii) Carpathian announces a "whitewash proposal" or a "reverse takeover"
(each as defined in the Takeover Code); or
(iv) there is a material change of circumstances.
Caution is no longer required to be exercised by NEPI shareholders when dealing
in their shares.
8 May 2009
For further information please contact:
New Europe Property Investments plc +40 74 432 8882
Martin Slabbert
Nominated Adviser and Broker: +44 20 7131 4000
Smith & Williamson Corporate Finance Limited
Azhic Basirov/ Joanne Royden-Turner
South African Sponsor: +27 11 283 0042
Java Capital (Proprietary) Limited
Andrew Brooking
Date: 08/05/2009 11:17:11 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
