DUPD.L Regulatory News (DUPD)

13 Nov 2007 08:24

Dragon-Ukrainian Prop. & Dev. PLC13 November 2007 Dragon-Ukrainian Properties & Development Plc ("DUPD") 13 November 2007 Private Placement Statement Dragon-Ukrainian Properties & Development Plc ("DUPD") would like to clarify anymisconception which may have arisen in the market following a press conferenceorganised by the broking arm Dragon Capital, which took place in Kiev on 6thNovember 2007. DUPD would like to stress that they had no involvement norpresence at the press conference. The press conference was convened in connection with the placing by DragonCapital of 23.4% of the shares of Creativ Group, a Ukrainian company involved infats and oils, raising approximately US $30m. Moreover, during a question raisedat the press conference, Dragon Capital revealed that it was also proposing toraise between US$100m and US$125m for Jachin Holdings Limited, a British VirginIslands company formed to develop a suburban housing development project nearKyiv through an issue of Global Depositary Shares. This proposed fundraising for Jachin Holdings Limited, by Dragon Capital, hasbeen wrongly attributed as a fundraising for the benefit of DUPD in severalpress sources due to the misinterpretation of a journalist. However, DUPD would also like to clarify that it also intends to make a privateplacement to raise approximately US $100m which it intends to be complete by theend of November 2007. This statement is intended to remove any confusion createdfollowing the press conference on 6 November 2007. Participation in this private placement is expected to be made to existinginvestors and selected new investors. DUPD intends to use the proceeds of the private placing to fund new investmentopportunities in the development of commercial properties and large-scaleresidential projects in Ukraine. The private placement is subject to a numberof conditions including admission of the new shares to AIM. The Company will provide full details of the placement and related issue of newshares in due course. Contact DUPDTomas Fiala (Director) +380 44 490 7120 Zimmerman Adams InternationalRay Zimmerman/Jonathan Evans +44 (0)20 7060 1760 This information is provided by RNS The company news service from the London Stock Exchange