London & Associated Properties Regulatory News (LAS)

EMBARGOED UNTIL 07:31AM THURSDAY 16 APRIL 2015 LONDON & ASSOCIATED PROPERTIES PLC (`LAP' or the `Company') Delay in publishing accounts leading to suspension of shares The Board of LAP announces that the publication of the Company's accounts forthe year ended 31 December 2014 will now be delayed beyond 30 April 2015. Thisis due to the introduction of IFRS 10, which applies to LAP from this year, andrequires the board to prepare financial statements which consolidate LAPtogether with its associated company Bisichi Mining Plc (LAS: BISI)("Bisichi"). Bisichi, which is owned as to 41.52% by LAP, continues to operate and ismanaged as an independent company but, taking into account the strictterminology used in IFRS 10, it is apparent that LAP, for accounting purposes,is deemed to control Bisichi and, as a result, consolidation is now required. The extra work required to carry out this exercise for the first time issignificant and covers the accounts for the last three financial years. Whileall reasonable efforts are being made to progress this task, publication of theaudited financial statements for 2014 will not be achieved before 30th April2015. At present the board expects that LAP's audited financial statements willbe available no later than the end of May 2015. The Directors emphasise that this delay relates purely to the new accountingrequirements and does not reflect any issues concerning the underlying tradingof LAP, which has continued in line with their previous expectations followingthe announcement of LAP's interim results on 28 August 2014. The Disclosure and Transparency Rules of the UK Listing Authority which applyto LAP as a listed entity require publication of annual financial reportswithin four months following the end of the financial period to which theyrelate. As a consequence of the expected delay to the publication of the annualaccounts beyond April, the board has requested that trading in LAP shares issuspended from today's date until the publication of the annual financialreport. ENDS. For further information, please contact: John Heller, Chief Executive Officer, LAP 020 7415 5000 Baron Phillips, Baron Phillips Associates 07767 444 193 Robert Finlay, Westhouse Securities 020 7601 6100