Livermore Regulatory News (LIV)

7 Dec 2007 07:01

Livermore Investments Group Limited07 December 2007 7 December 2007 LIVERMORE INVESTMENTS GROUP LIMITED ("LIVERMORE") Acquisition of Significant Share position in Atlas Estates Ltd. ("Atlas") Livermore today announces the acquisition of 8.41% of the issued share capitalof Atlas Estates Limited, by means of the purchase of 4,076,836 issued ordinaryshares in Atlas at an average price of 277.48p per share. The totalconsideration for this investment is £11.3m in cash. Atlas is an AIM-quoted real estate investment and development company. Atlas'sstrategy is to build a high yielding investment portfolio and generateadditional capital gain through development projects, with a focus onresidential development. Its activities are focused in Central and EasternEurope, excluding Russia and other former Soviet Union countries. Its currentassets are located in Poland, Hungary, Slovakia and Romania. In the elevenmonths to 31 December 2006 Atlas made a loss before taxation of €9.1m and at 30June 2007 Atlas had net assets of €253.2m. Noam Lanir, Chief Executive Officer of Livermore, commented: "We believe theinvestment in Atlas, which is in line with our strategy to establish aninvestment portfolio focused on areas of potential high growth, will deliverboth dividend yield and capital appreciation." Enquiries: Hudson SandlerJessica Rouleau / Fran Read020 7796 4133 Numis SecuritiesDavid Shapton020 7260 1000 This information is provided by RNS The company news service from the London Stock Exchange