Update
March 16 2007 - 12:25PM
UK Regulatory
For Immediate Release: 16 March 07
CLS HOLDINGS PLC ("CLS")
UPDATE RE: BULGARIAN LAND DEVELOPMENT PLC ("BLD")
Further to our announcement of 20 February 2007 and following the Extraordinary
General Meeting held by Bulgarian Land Development plc on Wednesday 14 March to
approve the Placing of 15 million ordinary shares, CLS is pleased to announce
that it has acquired 7,211,787 ordinary shares in BLD at �1 each. Accordingly
CLS is now interested in 11,461,787 or 28.65% of the issued share capital of
BLD.
CLS is also pleased to confirm that its Chief Executive Officer, Per Sj�berg,
has been appointed as Non-Executive Chairman of BLD.
- end -
For further information, please contact:
Sten Mortstedt, Executive Chairman
Per Sj�berg, Chief Executive Officer
CLS Holdings plc
www.clsholdings.com
Tel. +44 (0) 20 7582 7766
Ben Simons/Adam Reynolds
Hansard Group plc
Tel. +44 (0)207 245 1100
END
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