ABL Ablon

TIDMABL

RNS Number : 9722O

Ablon Group Limited

18 October 2012

ABLON Group Limited

FOR IMMEDIATE RELEASE

Receipt of Further EGM Requisition

The Directors of ABLON Group Limited ("ABLON" or "the Company") have received on 17 October 2012 a letter dated 12 October 2012 from VB Real Estate Holding eins GmbH ("VB"), a 24.18% shareholder of the Company, which seeks to requisition a further extraordinary general meeting of the Company (the "Requisition Proposal"). The proposed resolutions (each of which is proposed as an ordinary resolution) are as follows:

   1.         To remove Mr Uri Heller as a director of the Company. 

2. To appoint Mr Wolfhard Fromwald, an Austrian national, as a director of the Company in place of Mr Uri Heller.

3. To appoint Mr Marek Modecki, a Polish national, as an additional non-executive director of the Company.

The Company is considering the terms of the Requisition Proposal and the Directors will seek to discuss the Requisition Proposal with VB. The Company will make a further announcement in due course.

For further information, please contact:

ABLON Group Limited

   Kristóf 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 EUR385 million as at 30 June 2012. The ABLON Group had, as at 30 June 2012, 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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