Announcement of result of Tender Offer and placing
The Board of China Real Estate Opportunities plc announces that
the Tender Offer for the purchase of Shares at £3.30 per Share closed at 1.00pm
on Monday 22 March 2010. A total of 8,456,226 Shares were validly tendered,
including the 8,387,941 Shares tendered by Real Estate Opportunities plc in
accordance with its undertaking to the Company.
Of the shares tendered, 1.5 million will be
purchased by the Company for cancellation in accordance with its commitment,
the whole balance having been successfully placed by Matrix Corporate Capital
LLP. Therefore, all valid tender applications will be satisfied in full.
It is expected that the proceeds of the
Tender Offer will be paid to Shareholders who validly tendered Shares on or
around 25 March 2010.
Terms used and not defined in this
announcement bear the same meaning given to them in the Circular dated 8 March
2010.
Ray Horney, Chairman
of the Company, commented: “We are delighted that the Tender Offer has been
successful in providing an exit from the Company for those shareholders who so
wished and in particular that the demand from investors substantially exceeded
the number of shares available to be placed. Through the placing, we are also
pleased to welcome several new shareholders to the Company.”
