Last checked at 8 Dec 2008 16:14
China Real Estate Opportunities plc
Grant of options
The Board of China Real Estate Opportunities plc ("CREO" or the "Company") is pleased to announce that each of the conditions to the grant of 532,000 share options, referred to in the circular to shareholders dated 10 November 2008 (the "Circular"), have been met. The options have been granted to employees of Treasury Holdings China Limited, the Company's investment manager, with 500,000 share options with an exercise price of £6.35, 30,000 previously granted share options with an exercise price of £8.065 and 2,000 previously granted share options with an exercise price of £7.56.
The Concert Party is currently interested in 23,976,653 ordinary shares representing 46.83 per cent. of the Company's issued share capital. On the basis of the Option Assumptions (as defined in the Circular), the maximum shareholding of the Concert Party (as defined in the Circular) would be 26,074,453 ordinary shares representing 48.92 per cent. of the Company's issued share capital.
Enquiries to:
China Real Estate Opportunities plc
Ray Horney, Chairman Tel: + 44 (0) 1273 775 225
Sarah Moriarty, Investor Relations Tel: +353 1 618 9455
Davy
Des Carville Tel: +353 1 679 6363
Matrix Corporate Capital LLP
Paul Fincham Tel: + 44 (0) 20 3206 7000
Bankside Consultants Ltd
Simon Rothschild, Oliver Winters Tel: + 44 (0) 20 7367 8888
Murray Consultants
Ed Micheau Tel: + 353 1 498 0300