Last checked at 16 Jun 2010 16:00
China Real Estate Opportunities plc
Scheme of Arrangement update: Court Order issued to sanction Scheme
Further to the announcement by China Real Estate Opportunities plc ("CREO" or the "Company") on 7 June 2010 regarding the approval of the Scheme and associated matters at the Court Meeting and the EGM, the Company is pleased to announce that the Royal Court of Jersey has today issued the order sanctioning the Scheme by which the transfer of the Company to Treasury China Trust, a Singapore business trust to be listed by introduction on Singapore Exchange Securities Trading Limited ("SGX-ST"), is being implemented. The Scheme will become effective in accordance with its terms upon the Court Order being delivered to the Registrar of Companies in Jersey which is expected to take place on 18 June 2010. The provisions of the Scheme will become operative at 9.00 a.m. (Singapore time) on 21 June 2010.
The ordinary shares in CREO were this morning suspended from trading on AIM. The quotation of the CREO shares on AIM is expected to be cancelled at 7.00 a.m. on 21 June 2010. An expected timetable of principal events is set out below.
| Event | Time and/or date |
| Delivery of Court Order to the Registrar of Companies (Scheme Effective Date) | 18 June 2010 |
| Operative Time of the Scheme | 9.00 a.m. (Singapore time) on 21 June 2010 |
| Cancellation of admission to trading on AIM of Shares | 7.00 a.m. (London time) on 21 June 2010 |
| Listing and commencement of trading of TCT Units on the SGX-ST | 21 June 2010 |
The dates given are based on CREO's current expectations and may be subject to change. If any of the expected dates change, CREO will give adequate notice of the changes by issuing an announcement through a Regulatory Information Service or by displaying a notice on its website (www.china-reo.com).
Terms defined in the Scheme Document shall have the same meaning(s) when used in this announcement.
Enquiries to:
CREO
Ray Horney, Chairman Tel: + 44 (0) 1273 775 225
Sarah Moriarty, Investor Relations Tel: + 353 1 618 9455
Matrix Corporate Capital LLP Tel: + 44 (0) 20 3206 7000
Paul Fincham, Rob Naylor
Davy
Des Carville Tel: + 353 1 679 6363
Citigate Dewe Rodgerson Limited Tel: + 44 (0) 20 7638 9571
Tom Baldock
Murray Consultants
Ed Micheau Tel: + 353 1 498 0300