19 Jul 2017 15:25
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
19 July 2017
Dragon-Ukrainian Properties & Development plc
("DUPD" or the "Company" and together with its subsidiaries, the "Group")
Response to Announcement of Offer for DUPD declared wholly unconditional
The independent directors of DUPD (being Mark Iwashko and Aloysius Wilhelmus Johannes van der Heijden) (the "Independent Directors") note the announcement by Dragon Capital Investment Limited ("DCI") on 18 July 2017 that it has received valid acceptances of its Offer of 29,067,044 DUPD Shares, representing 26.58 per cent. of the existing issued share capital of DUPD and 39.51 per cent. of the DUPD shares not already owned by DCI.
Pursuant to the acceptances of the Offer received to date, DCI is now interested in 64,861,833 DUPD Shares representing approximately 59.31 per cent. of the issued share capital of DUPD, all of which may be counted towards satisfaction of the Condition. As the Condition has been satisfied, DCI has declared the Offer wholly unconditional.
The Independent Directors also notes that the Offer will remain open for acceptances until 1.00 p.m. on 1 August 2017 ("the Closing Date"), when it will close.
The Independent Directors, who are being advised by Panmure Gordon, recommend that DUPD Shareholders take no action in respect to the Offer at this stage, and will make a further announcement in advance of 1 August 2017.
Capitalised terms used in the circular to DUPD Shareholders dated 11 July 2017 (the "Circular") have the same meanings in this announcement, save where the context provides otherwise.
Contacts:
Dragon - Ukrainian Properties & Development plc (www.dragon-upd.com) | |
Mark Iwashko (Chairman) | +380 (50) 381-8811 |
Panmure Gordon (UK) Limited | |
Richard Gray / Andrew Potts (Nomad & Broker) Karri Vuori / James Greenwood (Financial Adviser) | +44 (0)20 7886 2500 |
Panmure Gordon (UK) Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for DUPD and the Independent Directors and no one else in connection with the Offer and will not be responsible to anyone other than DUPD and the Independent Directors for providing the protections afforded to its clients or for providing advice in relation to the Offer or any other matters referred to herein.