Real Est.cred Regulatory News (RECI)

4 Feb 2008 07:00

Queen's Walk Investment Limited04 February 2008 Queen's Walk Investment Limited puts in place Close Period Share RepurchaseProgramme Queen's Walk Investment Limited (the "Company") announces today that the Companyhas entered into an irrevocable, non-discretionary arrangement with CitigroupGlobal Markets Limited ("Citi") and JPMorgan Cazenove Limited ("JPM Caz"), torepurchase on its behalf and within the parameters set out below, ordinaryshares in the Company for cancellation during the close period commencing on 4February 2008 and ending on or around 5 March 2008 being the proposed date forthe publication of the Company's 31 December 2007 interim results (the "sharebuy back"): Pricing The maximum price to be paid shall be not more than 105% of the average of themiddle market quotations for the Company's shares for the five business daysbefore the day on which purchase is made. Volume JPM Caz and Citi will have the authority to consider, on each trading day,repurchasing more than 50% of the average daily trading volume of the Company'sshares traded over the 20 trading days preceding that date. The sole purpose of the share buy back is to reduce the capital of the Company. JPM Caz and Citi, as independent third parties, will make their tradingdecisions in relation to the Company's ordinary shares independently of, anduninfluenced by, the Company. The share buy back will be effected in accordance with Chapter 12 of the ListingRules and with the Company's current authority granted to repurchase up to 14.99per cent. of its issued share capital as of 3 September 2007. The Company confirms that it currently has no unpublished price sensitiveinformation. For further information please contact: Investor Relations: Caroline Villiers +44 (0) 20 7153 1521 Citi: Andrew Forrester +44 (0) 20 7 986 8729 JPM Caz: Angus Gordon Lennox +44 (0) 20 7 155 4605 This information is provided by RNS The company news service from the London Stock Exchange