21 Sep 2018 14:30
21 September 2018
BCRE - Brack Capital Real Estate Investments N.V.
("BCRE" or the "Company")
Update regarding the timing of the de-listing and listing of the shares on the Euronext Access of Euronext Paris
Further to:
· the Company's Extraordinary General Meeting held on 17 August 2018 at which shareholders unanimously approved the Company's determination to proceed with (i) the cancellation of the shares of EUR 0.01 each in the capital of the Company (the "Shares") from admission to the standard segment of the Official List; and (ii) the cancellation of the admission to trading of the Shares on the Main Market of the London Stock Exchange plc (together, the "De-Listing"); and
· the Company's announcement of 23 August 2018 and the publication of an information circular on its corporate website in connection with (i) the Company's application to the FCA in respect of the De-Listing; and (ii) the application to Euronext Paris in connection with the admission of the Shares to Euronext Access of Euronext Paris (the "Listing"),
the Company hereby announces that the application to Euronext Paris in connection with the Listing (the "Listing Application") is still being considered by Euronext Paris and the Listing is no longer anticipated to be effective on or around 24 September 2018. The prospect of achieving the Listing is unclear. In the event that the Listing is not achieved, the Company will explore alternative actions.
Accordingly, the Company has postponed the De-Listing so that it does not become effective on 8.00am GMT on Monday 24 September 2018.
The Company will publish an update by means of a press release with respect to the timing and status of the De-Listing and Listing Application as soon as practicable.
Holders of depositary interests in respect of the Shares ("DI Holders") are hereby notified that, notwithstanding recent communications from Link Market Services Trustees Limited (the "Depository") and the information circular dated 23 August 2018 as published on the Company's corporate website (www.brack-capital.com/investor-relations/corporate-governance/), the proposed timing for the termination of the depositary interest facility and the conversion to CREST Depositary Interests will no longer occur at 8.00am GMT on Monday 24 September 2018. The Depositary Interests held in CREST will instead remain enabled until further notice. If DI Holders have any questions, please contact the Depository on 0371 664 0335 between 9.00 a.m. and 5.30 p.m on Monday to Friday (except public holidays) or e-mail custodymgt@linkgroup.co.uk.
ENQUIRIES:
BCRE - Brack Capital Real Estate Investments N.V. |
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Nansia Koutsou, Co-Chief Executive Officer |
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Shai Shamir, Co-Chief Executive Officer |
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Yiannis Peslikas, Chief Financial Officer | +31 20 514 1004 |
Novella Communications |
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Tim Robertson |
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Toby Andrews | +44 203 151 7008 |
About BCRE
BCRE is an international real estate development and investment group, headquartered in the Netherlands and listed on the London Stock Exchange. Through its subsidiary and associated undertakings, the Company is interested in, develops and operates and international portfolio of real estate assets in the markets it operates.
The Company has established local management team platforms with significant local market expertise. At present, the Company has offices and teams in New York, London, Moscow, Amsterdam and Limassol.