Adams Regulatory News (ADA)

30 Oct 2009 10:49



FOR IMMEDIATE RELEASE 30 October 2009

Adalta Real Plc ("Adalta Real" or "the Company")

(Formerly Dawmed Systems PLC)

Annual General Meeting

At today's Annual General Meeting of Adalta Real, the commercial property agent, developer and investor, which is to be held later today, the Executive Chairman, Kevin Gilmore, will provide the following update:

"Although it is less than three months since the share purchase agreement for the sale of Dawmed International Limited was completed on 6 August 2009 and the change of name of the Company from Dawmed Systems Plc to Adalta Real Plc was approved by the shareholders at the Extraordinary General Meeting held on the same day, I am pleased to present a brief update of the Company's events as follows:- 

Key Points:

A lease of modest office accommodation was negotiated and completed on 1st September 2009;

Occupation of the office accommodation was achieved on 14 September 2009;

James E Hill, BSc (Hons) MRICS, joined the Company on 14 September;

All necessary office equipment was organised and installed by end of September;

James Hill was appointed to the Board on 14 October;

A satisfactory number of commercial property agency instructions to sell and/or let commercial property on behalf of clients has been achieved;

A number of commercial property development opportunities are being evaluated for potential acquisition.

I am encouraged by progress so far and feel that we are on track to implement our new investing policy as approved by shareholders on 6 August 2009"

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