Ablon Group Limited Result of EGM (8386W)

TIDMABL

RNS Number : 8386W

Ablon Group Limited

31 January 2013

FOR RELEASE AT 31 January 2013

Result of EGM

The Extraordinary General Meeting (the "EGM") of ABLON Group Limited ("ABLON" or the "Company"), to consider the resolutions put forward following the receipt of the requisition notice dated 13 December 2012 at the request of VB Real Estate Holding eins GmbH (the requisitioning shareholder), was held at its registered office in Guernsey at 1.00 p.m. today.

The resolutions were determined by a poll as follows:

   Resolution 1:    For - 40 455 379 Against - 79 538 940   Percentage - 66.3% Failed 
   Resolution 2:    For - 74 684 598 Against - 45 309 721   Percentage - 62.2% Approved 
   Resolution 3:    For - 63 728 939 Against - 56 265 380   Percentage - 53.1% Approved 
   Resolution 4:    For - 44 240 660 Against - 75 753 659   Percentage - 63.1% Failed 
   Resolution 5:    For - 44 240 660 Against - 75 753 659   Percentage - 63.1% Failed

Accordingly, the resolution to remove Adrienn Lovro as director of the Company has failed, Mordechai Bignitz and Saydam Salaheddin have been removed as directors of the Company, while resolutions to appoint Dr Janos Eros and Jaska Harm as directors have failed.

The Board now comprises Alex Borrelli Chairman, Adrienn Lovro Executive Director, Wolfhard Fromwald Non-Executive Director, Marek Modecki Non-Executive Director.

Alex Borrelli, Chairman, commented as follows:

"The Board is grateful to Mordechai Bignitz and Saydam Salaheddin for their significant contribution as non-executive directors of the Company."

The Company notes that a further requisitioned Extraordinary General Meeting is being held on 1 February 2013 to be followed by an EGM convened by the Company.

For further information, please contact:

ABLON Group Limited

   Alex Borrelli                                                                 Tel. +44 774 702 0600

Newgate Threadneedle (Financial PR)

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

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, one project 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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