Member Info for strop

A confirmed bid. Confirmed interest of other parties. 18 million buys. No real movement in SP!!!! This is the oddest share ever!

You are bang on and RTY have already confirmed that there are other bidders waiting in the wings. Looks like our patience is going to be tested again but at least there is movement and I think we can safely assume that Black Seas initial desirory offer will not be the final option. GLA

RNS Number : 8114T Rutley European Property Limited 12 June 2009 To: Company Announcements Date: 12 June 2009 Company: Rutley European Property Limited ("the Company") Subject: Offer by Black Sea Global Properties Limited The Board of Directors of Rutley European Property Limited (the "Company") notes the announcement by Black Sea Global Properties Limited ("Black Sea") of an all cash offer at 6 pence per redeemable preference share in the Company not already owned or controlled by Black Sea Global Properties Limited (the "Offer"). Shareholders should note that the Company has received other approaches which may or may not lead to other offers being made for the entire issued share capital of the Company as well. There is no certainty that another offer will however be made. A further announcement will be made as soon as possible.

"Notwithstanding the intention to retain the listing referred to above, BSGP reserves the right, subject to the Offer being approved by shareholders comprising 90% in value of the shares affected by the Offer (other than Shares held as treasury shares) within four months after the date of making the Offer (as construed in accordance with section 337 of the Companies (Guernsey) Law 2008), and subject to the Offer becoming unconditional in all respects, to give notice in accordance with section 337(1) of the Companies (Guernsey) Law 2008 to compulsorily acquire the Rutley Shares of any Rutley Shareholders who do not accept the Offer on the terms on which the Rutley Shares of the Rutley Shareholders approving the Offer are to be transferred to BSGP."

Thanks Mojo. If that is the case then I will certainly be holding them as I would take a hit selling at 6p

Havent had time yet to read and fully digest the RNS details but I assume the offer will be put to the shareholders? If so I cant see many of the large stakeholders taking a loss and selling at 6p. This pathetic offer must surely flush out more serious bidders!

Thanks Mojo and Billy. I agree it will be a waiting game now but just hadnt anticipated waiting so long. Have revised my strategy on this one but wish I had waited without investing and got in a bit later but hindsight is a wonderful thing as we all know! GLA

Could the sp be falling as it is at present because ordinarily investors/MMs would have expected some news by now?

I bought these when the news of interested parties first broke hoping that the interested parties would be a little bit more interested than they appear to be!! I was looking for a fairly quick return to invest in another interest but sadly I have waited so long that I am going to have to hang around or make a hefty loss on my investment here as the sp is now so low! Come on Global...get your wallet out!

I see Castellain have made 2 purchases of 100k shares yesterday. Slightly more significant than the usual RNS announcing sales of small numbers of shares but hasnt affected SP in any way. Hopefully we will start to see some developments here soon!

It would be nice to see the sp getting close to the NAV!! http://www.iii.co.uk/investment/detail?display=news&action=article&code=cotn:RTY.L&articleid=7346205

I know the financial amounts havent been great but all the trades for the last 3 days have been sells. Spread is also tightening slightly so would be nice for some snippets of info from RTY even if it was only to confirm that negotiations are ongoing. They havent even posted on their own website details of the forthcoming AGM. I know that technically we are still within time for the Global bid but I am getting a tad suspicious that it is dead in the water. Any one else got a more positive spin?

Thanks for that very useful post regarding the 2 Raven's. It certainly put things into some sort of perspective. I have to concede that I too was getting a little impatient as I hadnt expected to have held these shares for quite so long given all the "activity" in March, but based on your findings I think I can hold on a little longer. GLA

8 Trades today which is unusual in itself.......but all sales almost 250k sold. Bid 8.75 Ask 9.5 is lp

Look above it will likely be the same as it is now going on recent activity!! lol GL

Just been notified as follows: The board has announced that the company is proposing the following resolutions at an AGM to be held on 15th June 2009; Res 1. To approve and adopt the annual report and consolidated financial statements of the company for the year ended 31 December 2008 Res 2. To re-elect Ernst & Young LLP as auditors to the company until the conclusion of the next ordinary general meeting Res 3. To authorise the directors to determine the auditors remuneration Res 4. To re-elect David Allison as a director of the company Res 5. That in substation for all previous authorities, the company be generally and subject as hereinafter appears, unconditionally authorised, in accordance with section 315(1)(a) of the companies law 2008 to make market acquisitions of redeemable preference shares of no par value in the capital of the company and to cancel such shares or to hold such shares as treasury shares

I am not a decorator but I do think that this paint must be nearly dry!!

There is only one formal registered offer at present a cash offer potentially from Black Sea Global Properties which was made on the 17th of April. There are other suitors though who have shown interest but not made formal offers. If Black Sea progress with their offer then others may make counter offers. Even without the offers this Company is probably undervalued at current sp.

If we exclude weekends then by my reckoning we are only on Day 21. With weekends included we are now over the 30 day window, so assuming that weekends dont count.

They issued an Interim Management Statement on May 16th last year and then another in November so it looks like it wasnt a sign for us!!