21 Aug 2009 16:46
The Advantage Property Income Trust Limited ("TAP" or the "Company")
OFFER BY THE CONYGAR INVESTMENT COMPANY PLC ("CONYGAR") FOR THE WHOLE ISSUED AND TO BE ISSUED SHARE CAPITAL OF TAP (THE "OFFER")
The Board of TAP notes the announcement today from The Conygar Investment Company PLC stating that as at 1.00 p.m. on 21 August 2009 Conygar has received valid acceptances in respect of 32,768,473 TAP Shares, representing approximately 22.96 per cent. of the current issued share capital of TAP. Conygar already holds 41,250,000 TAP Shares, representing approximately 28.9 per cent. of TAP's issued share capital and therefore at 1.00 p.m. on 21 August 2009 Conygar either owned or had received valid acceptances of the Offer in respect of a total of 74,018,473 TAP Shares representing in aggregate approximately 51.85 per cent. of the current issued share capital of TAP.
The Offer is now unconditional as to acceptances. However, it remains subject to other conditions, including the passing of the resolutions to be proposed at the General Meeting of Conygar to be held at 11.00 a.m. on 26 August 2009.
The Board of TAP refers TAP shareholders to the announcement made this morning in response to the Offer and to the Response Document being posted to TAP shareholders today which can also be found on the Company's website: www.tapincome.com, and which is available for inspection at the offices of Shepherd and Wedderburn LLP at Condor House, 10 St Paul's Churchyard, London EC4M 8AL.
Enquiries
| VALAD Property Group Chris Carter Keall | 020 7659 6666 |
| Singer Capital Markets Ltd Jeff Keating/James Maxwell | 020 3205 7500 |
| Tavistock Communications Limited Jeremy Carey/Simon Hudson/Gemma Bradley | 020 7920 3150 |
| Anson Fund Managers Limited | 01481 722260 |