Possible offer for Carpathian plc, 22-April-2009
New Europe Property Investments PLC
Possible offer for Carpathian plc
Incorporated and registered in the Isle of Man with registered number 001211V
Registered as an external company with limited liability under the laws of South Africa
| Registration Number: | 2009/000025/10 |
| AIM Share Code: | NEPI |
| JSE share code: | NEP |
| ISIN Code: | IM00B23XCH02 |
Possible offer for Carpathian plc ("Carpathian")
The board of New Europe Property Investments plc announces that the Company has approached the board of Carpathian with a potential offer to acquire the entire issued share capital of Carpathian at a price of EUR0.20 per Carpathian share in cash, subject to certain conditions (the "Proposed Offer").
Pursuant to Rule 2.4(c) of The City Code on Takeovers and Mergers ("the Takeover Code"), the Company reserves the right to make an offer for Carpathian at a lower pricewith the recommendation of the board of Carpathian. The Company also reserves the right to vary the form and/or mix of consideration of any offer that may be made.
This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.5 of the Takeover Code and, at this stage, there can be no certainty that an offer or any other transaction will occur.
For further information please contact:
| New Europe Property Investments plc Martin Slabbert |
+40 74 432 8882 |
|---|---|
| Smith & Williamson Corporate Finance Limited Azhic Basirov / Joanne Royden-Turner |
+44 20 7131 4000 |
| Java Capital (Proprietary) Limited Andrew Brooking Corporate advisor and sponsor |
+27 (0)11 283 0042 |
This information is provided by RNS
The company news service from the London Stock Exchange
