REO Real Estate

TIDMREO

RNS Number : 6194F

Real Estate Opportunities PLC

19 June 2012

Real Estate Opportunities plc

Cancellation of the Standard Listing of 445,345,737 Ordinary Shares of No Par Value, update on the Annual Report for the Year ended 29 February 2012 and NAMA update

Further to the announcement of 27 January 2012 giving notice of the temporary suspension of listing from the Official List (Standard Category), the Board of Real Estate Opportunities plc ("REO" or the "Company") wishes to advise that the listing of 445,345,737 Ordinary Shares of No Par Value, being the total number of shares in issue, will be cancelled from the Official List on 18 July 2012.

Taking into consideration the current suspension of listing and the circumstances of the Company which have led to the suspension of listing, the merits of a listing and the value and costs of maintaining such a listing, together with the timeframes of the reporting obligations imposed on the Company, the Board is of the opinion that it would be in the best interests of shareholders for the Company to delist so as to provide cost savings, and to afford more timing flexibility in providing general and financial updates which will be of more substantial value to shareholders.

The Substantial Shareholder Agreement between the Company and Treasury Holdings has been amended to the effect that it will continue to apply notwithstanding the cancellation of the listing.

Further to the announcement of 23 March 2012 in relation to a decision by the Irish High Court to grant a full judicial review in relation to NAMA's conduct towards the REO Group, the full hearing of the judicial review proceedings before the Irish High Court is currently expected to occur in July 2012. Given the importance of the outcome of this case to the REO Group, the Board has decided to delay the release of the annual accounts for the year ended 29 February 2012 to the week commencing 20 August 2012. The annual accounts will be posted to Shareholders and made available on the Company's website www.realestateopportunities.co.uk.

Further updates in relation to the outcome of the Judicial Review, and in relation to the Company generally, will be made available on the REO website www.realestateopportunities.co.uk

Enquiries:

Real Estate Opportunities plc

Ray Horney, Chairman

Tel: +44 (0)1273 775 225

Niall O'Buachalla, Investor Relations

Tel: +353 1 618 9300

Matrix Corporate Capital

Paul Fincham / Jonathan Becher

Tel: +44 (0)20 3206 7000

RLM Finsbury

Gordon Simpson / Arif Shah

Tel: +44 (0)207 251 3801

Murray Consult

Ed Micheau

Tel: +353 1 498 0300

This information is provided by RNS

The company news service from the London Stock Exchange

END

POSFPMATMBABBBT

Real Estate Opportunities (LSE:REO)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Real Estate Opportunities (LSE:REO)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024