Ablon Group Limited Intended Cancellation of Listing (9525C)
April 23 2013 - 2:00AM
UK Regulatory
TIDMABL
RNS Number : 9525C
Ablon Group Limited
23 April 2013
For Immediate Release 23 April 2013
Ablon Group Limited
("Ablon" or the "Company")
Intended Cancellation of Listing
Further to the announcement made on 17 April 2013 by CPI Group,
a.s. that it had received valid acceptances to the unconditional
mandatory cash offer, which it made on 13 March 2013 to Ablon
shareholders in relation to Ablon ordinary shares not already owned
by it ("Offer Document"), totalling 57,491,462 Ablon ordinary
shares, representing approximately 41.98 per cent. of the existing
issued share capital of Ablon, and that in aggregate CPI owned or
had received valid acceptances in respect of 127,173,104 Ablon
ordinary shares, representing approximately 92.87 per cent. of the
existing issued share capital of Ablon, the Company announces that
it is applying to the UK Listing Authority for the removal of the
Ablon ordinary shares from the Official List of the UK Listing
Authority and to the London Stock Exchange plc for the cancellation
of trading in the Ablon ordinary shares on the Main Market
("Cancellation").
This follows a statement made in the Offer Document by CPI
Group, a.s. that it intended to procure as soon as practicable that
the board of Ablon proceeds with the Cancellation.
The board of directors of the Company has unanimously voted in
favour of the Cancellation and by way of this announcement
shareholders of Ablon are being given the required notice under the
Listing Rules of at least 20 business days' notice of the intended
Cancellation. It is therefore expected that the last day of dealing
in the ordinary shares of Ablon on the Main Market will be 30 May
2013. Cancellation is expected to take effect at 8.00 a.m. on 31
May 2013.
Enquiries:
Alex Borrelli / Adrienn Lovro
Ablon Group Limited
+44 7747 020 600/+36 1 225 6600
Roland Cornish / Emily Staples
Beaumont Cornish Limited
+44 (0) 207 628 3396
About ABLON Group Limited
Founded in 1993 in Budapest (Hungary), ABLON and its
subsidiaries (together the "ABLON Group") has properties at 33
locations, of which there are 15 completed projects and 23
development projects in Budapest, Prague, Bucharest and Warsaw. Its
portfolio comprises a diversified mix of office, residential,
retail, logistics and hotel developments valued at approximately
EUR370 million by external independent appraiser (Colliers
International) as at 31 December 2012. The ABLON Group had, as at
31 December 2012, approximately 208,800 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 circa.
1,164,500 square metres (at 23 locations) in Budapest, Prague,
Bucharest and Warsaw. 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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