AGM Statement
27 Abril 2009 - 12:10PM
UK Regulatory
TIDMBPD
RNS Number : 2355R
Bulgarian Property DevelopmentsPLC
27 April 2009
FOR IMMEDIATE RELEASE
27 APRIL 2009
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES
Bulgarian Property Developments Plc
("BPD" or the "Company")
Annual General Meeting
At the Annual General Meeting of the Company held earlier today all resolutions
were duly passed on a show of hands.
It is expected that admission of the Company's shares to trading on AIM will be
cancelled with effect from 7.00am on 28 April 2009.
BPD notes the announcement made by Windsorville Investments Ltd.
("Windsorville") that it is implementing the procedure under sections 979 to 991
of the Companies Act 2006 to acquire compulsorily those BPD shares which it does
not already hold or has not already acquired or contracted to acquire, or in
respect of which it has not already received valid acceptances under its offer.
BPD also notes that Windsorville's offer will remain open for acceptance until
further notice.
Enquiries:
Bulgarian Property Developments Plc
Keith Springall +44 (0) 7973 177 095
Matrix Corporate Capital LLP (Nominated Adviser)
Stephen Mischler +44 (0) 20 3206 7000
Cubitt Consulting
Brian Coleman-Smith/James Verstringhe +44 (0) 20 7367 5100
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any
person is, or becomes, 'interested' (directly or indirectly) in 1 per cent or
more of any class of 'relevant securities' of BPD, all 'dealings' in any
'relevant securities' of that company (including by means of an option in
respect of, or a derivative referenced to, any such 'relevant securities') must
be publicly disclosed by no later than 3.30 p.m. (London time) on the London
business day following the date of the relevant transaction. This requirement
will continue until the date on which the offer becomes, or is declared,
unconditional as to acceptances, lapses or is otherwise withdrawn or on which
the 'offer period' otherwise ends. If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to acquire an
'interest' in 'relevant securities' of BPD, they will be deemed to be a single
person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant
securities' of Windsorville or of BPD by Windsorville or BPD, or by any of their
respective 'associates', must be disclosed by no later than 12.00 noon (London
time) on the London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.
'Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a 'dealing' under Rule 8, you should consult the Panel.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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