Receipt of Irrevocable Commitment
29 Settembre 2009 - 1:36PM
UK Regulatory
TIDMDLD
RNS Number : 8591Z
Black Sea Global Properties Limited
29 September 2009
Not for release, publication or distribution in or into the United States of
America, Canada, Australia, the Republic of South Africa or Japan or any other
jurisdiction where to do the same would constitute a violation of the relevant
laws of such jurisdiction
29 September 2009
INCREASED AND RECOMMENDED MANDATORY CASH OFFER
by
BLACK SEA GLOBAL PROPERTIES LIMITED
for
DEUTSCHE LAND PLC
Receipt of Irrevocable Commitment
On 9 September 2009, the board of Black Sea Global Properties Limited ("BSGP")
announced, in accordance with its obligations under Rule 9 of the City Code, the
terms of a mandatory cash offer at 12 pence per share for the entire issued and
to be issued ordinary share capital of Deutsche Land plc ("Deutsche Land") not
already owned or otherwise contracted to be acquired by BSGP or any of its
associates (the "Offer"). The offer document relating to the Offer was posted to
Deutsche Land Shareholders on 16 September 2009.
On 25 September 2009, the boards of BSGP and Deutsche Land announced the terms
of an increased and recommended mandatory cash offer (the "Increased Offer") of
13 pence in cash for each ordinary share of EUR0.01 each in the capital of
Deutsche Land (each a "Deutsche Land Share").
The board of BSGP is pleased to announce that it has procured an irrevocable
commitment to accept the Increased Offer from Stephen Dickinson, the chairman of
Deutsche Land, in respect of 897,022 Deutsche Land Shares representing
approximately 0.27 per cent. of the existing issued ordinary share capital of
Deutsche Land.
Accordingly, BSGP either owns or has procured irrevocable commitments to accept
the Increased Offer for, in aggregate, 185,304,598 Deutsche Land Shares
representing approximately 55.73 per cent. of the existing ordinary share
capital of Deutsche Land.
The irrevocable commitment to accept the Increased Offer continues to be binding
in the event of a higher offer being made for Deutsche Land. The irrevocable
commitment is conditional on the posting of the Increased Offer Document on or
before 5 October 2009.
The Increased Offer of 13 pence in cash for each Deutsche Land Share is final
and will not be increased.
Enquiries:
+----------------------------------------------+----+----------------------+
| Lazard & Co., Limited (Financial Adviser to | | +44 (0) 20 7187 2000 |
| BSGP) | | |
| Patrick Long | | |
| Michael Bressler | | |
+----------------------------------------------+----+----------------------+
| Oriel Securities Limited (Broker to BSGP) | | +44 (0) 20 7710 7600 |
| Tom Durie | | |
| Sapna Shah | | |
+----------------------------------------------+----+----------------------+
| Financial Dynamics (PR Adviser to BSGP) | | +44 (0) 20 7831 3113 |
| Stephanie Highett | | |
| Richard Sunderland | | |
| Rachel Drysdale | | |
+----------------------------------------------+----+----------------------+
Lazard & Co., Limited ("Lazard"), which is regulated by the Financial Services
Authority, is acting for BSGP in connection with the Increased Offer and no-one
else and will not be responsible to anyone other than BSGP for providing the
protections afforded to customers of Lazard or for providing advice in relation
to the Increased Offer.
Oriel Securities Limited ("Oriel"), which is regulated by the Financial Services
Authority, is acting for BSGP in connection with the Increased Offer and no-one
else and will not be responsible to anyone other than BSGP for providing the
protections afforded to customers of Oriel or for providing advice in relation
to the Increased Offer.
The Increased Offer Document will be despatched to Deutsche Land Shareholders by
BSGP as soon as practicable.
Terms used but not defined in this announcement shall have the meaning given to
them in the announcement of the Original Offer by the board of BSGP on 9
September 2009 or in the Original Offer Document.
A copy of this announcement has been published on BSGP's website. The
announcement can be viewed at www.bsgproperties.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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