Rugby Estates PLC Offer for O Twelve & Property Adviser Agreement (9953H)
July 19 2012 - 2:00AM
UK Regulatory
TIDMRES TIDMOTE
RNS Number : 9953H
Rugby Estates PLC
19 July 2012
Rugby Estates Plc
Offer for O Twelve and Property Adviser Agreement
19 July 2012
Rugby Estates Plc confirms that its subsidiary, Rugby BVI
Holdings Limited, has accepted the offer of 7 pence per share by
VIII Investment UK S.a r.l. in respect of its holding of 7,894,502
ordinary shares in O Twelve Estates Limited ("O Twelve").
In addition, as detailed in O Twelve's final results announced
on 18 June 2012, on 15 June 2012, O Twelve entered into a deed of
amendment to the Property Adviser Agreement with Rugby Asset
Management Limited ("RAM") dated 22 March 2006 (as amended and
restated) ("Property Advisers Agreement"). Subject to the approval
of Nationwide, as agent for the finance parties under the facility
agreement dated 20 December 2006 (as amended and restated), it was
agreed that the Property Adviser Agreement would be amended so that
either party can terminate the agreement on at least six months'
written notice at any time.
Rugby Estates Plc announces that following receipt of
Nationwide's approval yesterday, the deed of amendment to the
Property Adviser Agreement between RAM and O Twelve dated 15 June
2012 has now become effective.
Enquiries:
David Tye, Chairman
Andrew Wilson, Chief Executive
Rugby Estates Plc
www.rugbyestates.plc.uk
020 7016 0050
Katy Birkin/Simon Bennett
Fairfax I.S. PLC
020 7598 5368
Stephanie Highett / Dido Laurimore / Will Henderson
FTI Consulting
020 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
END
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