ABL Ablon

TIDMABL

RNS Number : 5726H

Ablon Group Limited

12 July 2012

ABLON Group Limited

FOR IMMEDIATE RELEASE

Result of AGM

The Annual General Meeting of ABLON Group Limited ("ABLON" or the "Company"), a leading real estate owner and developer in Central Europe, was held at its registered office in Guernsey at 1.00 p.m. today.

All resolutions put to the meeting were duly passed with the exception of special resolution 6 relating to the adoption of new memorandum and articles of incorporation. Accordingly, the existing memorandum and articles of incorporation will remain in force for the time being and a further announcement will be made in due course.

The resolutions were determined by a poll. The votes recorded are the following:

Ordinary resolutions:

   Resolution 1:    For - 63,682,726        Against - 41,227,985        Percentage 60.70% - Approved 
   Resolution 2:    For - 63,682,726        Against - 37,421,434        Percentage 62.99% - Approved 
   Resolution 3:    For - 52,727,067        Against - 52,183,644        Percentage 50.26% - Approved 
   Resolution 4:    For - 63,682,726        Against - 41,227,985        Percentage 60.70% - Approved 
   Resolution 5:    For - 63,682,726        Against - 41,227,985        Percentage 60.70% - Approved 

Special resolution:

   Resolution 6:    For - 47,444,026        Against - 61,603,118        Percentage 56.49% - Failed 

Alex Borrelli, Chairman, commented as follows:

"The Directors recognise the recent concerns noted by certain shareholders in relation to the valuations of the Group's property portfolio. The Directors are pleased to note that the appointment of a new independent valuer is currently under negotiation in respect of instructions for a valuation report as at 30 June 2012, which will be made available to all shareholders."

For further information, please contact:

ABLON Group Limited

Kristof Skwarek                                                            Tel. +36 1 225 6600 

Arden Partners plc

   Adrian Trimmings / Justine Waldisberg                           Tel. +44 (0)20 7614 5900 

ING Wholesale Banking (Joint Corporate Broker)

   Nathalie Bachich de Recina                                           Tel. +44 (0)20 7767 8362 

Newgate Threadneedle (Financial PR)

   Graham Herring                                                            Tel. +44 (0) 20 7653 9858 

Terry Garrett Tel. +44 (0) 20 7653 9845

NOTES TO EDITORS

About ABLON Group Limited

Founded in 1993 in Budapest (Hungary), ABLON and its subsidiaries (together the "ABLON Group") has properties at 34 locations, of which there are 15 completed projects, two projects in the construction phase and 23 development projects in Budapest, Prague, Bucharest, Warsaw and Gdansk. Its portfolio comprises a diversified mix of office, residential, retail, logistics and hotel developments valued at EUR484 million by external independent appraiser (GVA), as at 31 December 2011. The ABLON Group had, as at 31 December 2011, 202,000 square metres of existing and income generating office, residential, hotel, retail and logistics assets (at 15 locations) in Budapest and Prague, with a significant development land bank comprising a further 1,236,300 square metres (at 24 locations) in Budapest, Prague, Bucharest, Warsaw and Gdansk. ABLON's shares are traded on the Main Market of the London Stock Exchange under the ticker 'ABL'.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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