Still confused...29 Jun 2009 10:23
Good Morning Mr Tillywolves,
Thank you for your message.
The latest information that has been issued is as below:
BLACK SEA GLOBAL PROPERTIES LIMITED, AN INDIRECT WHOLLY OWNED SUBSIDIARY OF ROMPETROL HOLDING S.A. HAS ANNOUNCED THE TERMS OF A CASH OFFER TO BE MADE FOR THE ENTIRE ISSUED AND TO BE ISSUED REDEEMABLE PREFERENCE SHARE CAPITAL OF RUTLEY EUROPEAN PROPERTY LIMITED WHICH IS NOT ALREADY OWNED OR OTHERWISE CONTRACTED TO BE ACQUIRED BY BSGP.
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.
Additional Information:
OFFER VALUE AND PREMIUM: The Offer Price of 6 pence per Rutley Share values the existing issued redeemable preference share capital of Rutley at approximately GBP12,555,000 and represents a premium of:
- 100 per cent to the Rutley tender offer price of 3 pence per Rutley Share in February 2009, and;
- 107 per cent to the closing price of 2.9 pence per Rutley Share on 27 March 2009, being the last dealing day prior to the announcement by Rutley that it had received approaches that might or might not lead to an offer for Rutley.
OVERSEAS SHAREHOLDERS: For restrictions placed on overseas shareholders, please refer to the formal circular.
CONTACT DETAILS: The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Li