OCH Orchid Dev

TIDMOCH

RNS Number : 2738W

Orchid Developments Group Ltd

27 January 2012

AIM: OCH

27 January 2012

Orchid Developments Group Ltd

("Orchid" or the "Company")

Statement re share price movement

The Company notes the movement in its share price yesterday and also notes press commentary in relation to a possible offer for its key asset, the Grand Mall in Varna. The Company can confirm that no offer or approach for the property has been received to date.

However, the Company can confirm that it has received a preliminary approach from a third party which may or may not lead to an offer for the Company being made. The approach is at a very early stage and there can be no guarantee that it will result in an offer being made.

The Company which is incorporated in the Cayman Islands is not subject to the City Code on Takeovers and Mergers ("Code"). Consequently, there will be no automatic 28 day "put up or shut up" as would be the case were the Company subject to the Code.

Further announcements will be made as appropriate.

 
Contacts: 
Orchid Developments 
 Guy Meyohas                          +35 92 981 9955 
Shore Capital and Corporate Limited 
 Bidhi Bhoma / Toby Gibbs             +44 20 7408 4090 
MHP Communications 
 Reg Hoare / Tim McCall / Vicky 
 Watkins                              +44 20 3128 8100 
 

The Company announces that it has 88,466,260 ordinary shares of 0.01 euro each in issue. The International Securities Identification Number for the Company's ordinary shares is KYG6791P1072.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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