Last checked at 9 Jan 2009 10:47
| For Immediate Release | 9 January 2009 |
The Off-plan Fund Limited
Interests in Shares
The Board of The Off-plan Fund Limited (the "Fund") has previously been made aware of and has announced that Elsina Limited ("Elsina"), a company ultimately owned by Investec Trust (Guernsey) Limited, as trustees for the Tchenguiz Family Trust, was interested in 20.25% of the Fund's share capital.
It has recently come to the attention of the Board that the majority of Elsina's interest in these shares was transferred to Kaupthing Singer & Friedlander ("KS&F") just prior to KS&F entering into administration in October 2008. The administrators of KS&F have since confirmed that KS&F has an interest in 1,858,850 shares, representing 16.7% of the Fund's issued share capital.
The Fund has been informed that Elsina maintains its interest in the balance of 400,000 shares (3.6%).
List of Contacts
Development Capital ManagementRoger HornettAndy Gardiner
020 7355 7600
Numis Securities Limited
Nominated Adviser
Nick Westlake
020 7260 1000
Corporate Broking
Charles Farquhar
020 7260 1000
Buchanan Communications
Charles Ryland
Isabel Podda
020 7466 5000