Last checked at 11 Jul 2008 07:00
Dawnay, Day Carpathian PLC
("DDC" or the "Company")
Share Subscription
Dawnay, Day Carpathian PLC, the retail property investment company established to invest in Central and Eastern Europe, is pleased to announce that it has reached agreement with the Dawnay, Day Group on the final amount and terms on which the Dawnay, Day Group will subscribe for new ordinary shares in the Company. This agreement is in relation to the Dawnay Day Group's commitment to invest an amount equal to the profit made by members of the Dawnay, Day, Group on the sale of assets to the Company, as was referred to in the initial Admission Document.
The total profit amount on the sales of certain properties made by the Dawnay, Day Group to the Company to date has been agreed at £5,759,236. This sum represents the aggregate profits made on the sales of properties in Hungary and Romania and is in line with the Company's previous announcements made at the time of these acquisitions.
It has been agreed with the Dawnay, Day Group that the sum of £2,840,523, which represents the net profit made in respect of the Hungarian properties by members of the Dawnay, Day, Group, will be subscribed now at a price of £1.02 per share.
The Dawnay Day Group has, as previously announced, similar re-investment obligations amounting in aggregate to £2,918,713 in respect of four Romanian properties acquired by DDC. This subscription has been agreed in principle and the details are being finalised with the Dawnay, Day Group and an announcement will follow.
Enquiries:
| Dawnay, Day PanTerra Paul Rogers Balazs Csepregi Simon Killick | 020 7834 8060 | |
| Numis Securities Limited | 020 7260 1000 | |
| Nominated Adviser | Anthony Richardson / Nick Westlake | |
| Corporate Broking | Charlie Farquhar | |
Redleaf Communications 020 7822 0200
Emma Kane