Last checked at 26 Nov 2008 07:00
China Real Estate Opportunities Limited
CREO acquires 7.21% in RREEF CCT
26 November 2008, Hong Kong - China Real Estate Opportunities ("CREO or the "Company"), an AIM listed property company with an established investment and development portfolio in China, today announced it has acquired 33,471,000 units (7.21%) in RREEF China Commercial Trust ("RREEF CCT"), a Hong Kong listed Real Estate Investment Trust ("REIT"), at an average price of HKD2.58 per share, through on-market purchases. This acquisition follows CREO's recent announcement that it had entered into a call option agreement to acquire a 25.65% stake or 119,043,500 units in RREEF CCT to be exercised on 12 January 2009.
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About CREO
CREO was listed on the AIM market in London on 11th July 2007 under ticker symbol CREO, having successfully raised £259 million. Harnessing the intimate local market knowledge and key relationships that Treasury Holdings has been able to develop through its presence in China since 2002, CREO's principal objective is to maximise capital growth from a portfolio of properties in China. The projects will all incorporate high quality design, specifications, and finishes synonymous with Treasury Holdings.
CREO, with an exclusive focus on the China real estate market currently owns seven high-quality, strategically located properties in Shanghai, Beijing, and Qingdao. The company's main focus is in the commercial real estate sector, with income-producing properties currently representing 75% of the total portfolio.
www.china-reo.com
www.treasuryholdings.com
For further information, please contact:
CREO
Ray Horney, Chairman
Tel: + 44 (0)1273 775225
Sarah Moriarty, Investor Relations
Tel: +353 1 6189455
Treasury Holdings China
Richard David, Managing Director
Tel: (+86) 21 6282 5000
Davy
Des Carville
Tel: +353 1 679 6363
Media Enquiries:
Bankside Consultants
Simon Rothschild, Oliver Winters
Tel: + 44 (0)207 367 8888
Murray Consultants
Ed Micheau
Tel: + 3531 498 0300