OCH Orchid Dev

TIDMOCH

RNS Number : 3698X

Orchid Developments Group Ltd

14 February 2012

AIM: OCH

14 February 2012

Orchid Developments Group Ltd

("Orchid" or the "Company")

Update ahead of Extraordinary General Meeting on 15 February 2012 ("EGM")

On 27 January 2012 Orchid, the specialist investor in the Bulgarian real estate and leisure market, announced that it had received a preliminary approach from a third party which may or may not lead to an offer for the Company being made ("Approach").

The Company confirms that the Approach, which remains at a very preliminary stage, has been made on the basis of publicly available information and remains subject to due diligence and, accordingly, there can be no guarantee that a transaction will ensue. The Company is continuing to seek to clarify the terms of the Approach but would like to emphasize that the indicative price currently proposed by the third party is below the closing middle market price per share on 13 February 2012.

Ends

 
Contacts: 
Orchid Developments 
 Guy Meyohas                          +35 92 981 9955 
Shore Capital and Corporate Limited 
 Dru Danford / Bidhi Bhoma / Toby 
 Gibbs                                +44 20 7408 4090 
MHP Communications 
 Reg Hoare / Tim McCall / Vicky 
 Watkins                              +44 20 3128 8100 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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