Ablon Group Limited Intended Cancellation of Listing (9525C)

TIDMABL

RNS Number : 9525C

Ablon Group Limited

23 April 2013

For Immediate Release 23 April 2013

Ablon Group Limited

("Ablon" or the "Company")

Intended Cancellation of Listing

Further to the announcement made on 17 April 2013 by CPI Group, a.s. that it had received valid acceptances to the unconditional mandatory cash offer, which it made on 13 March 2013 to Ablon shareholders in relation to Ablon ordinary shares not already owned by it ("Offer Document"), totalling 57,491,462 Ablon ordinary shares, representing approximately 41.98 per cent. of the existing issued share capital of Ablon, and that in aggregate CPI owned or had received valid acceptances in respect of 127,173,104 Ablon ordinary shares, representing approximately 92.87 per cent. of the existing issued share capital of Ablon, the Company announces that it is applying to the UK Listing Authority for the removal of the Ablon ordinary shares from the Official List of the UK Listing Authority and to the London Stock Exchange plc for the cancellation of trading in the Ablon ordinary shares on the Main Market ("Cancellation").

This follows a statement made in the Offer Document by CPI Group, a.s. that it intended to procure as soon as practicable that the board of Ablon proceeds with the Cancellation.

The board of directors of the Company has unanimously voted in favour of the Cancellation and by way of this announcement shareholders of Ablon are being given the required notice under the Listing Rules of at least 20 business days' notice of the intended Cancellation. It is therefore expected that the last day of dealing in the ordinary shares of Ablon on the Main Market will be 30 May 2013. Cancellation is expected to take effect at 8.00 a.m. on 31 May 2013.

Enquiries:

Alex Borrelli / Adrienn Lovro

Ablon Group Limited

[phone]/[phone]

Roland Cornish / Emily Staples

Beaumont Cornish Limited

[phone]

About ABLON Group Limited

Founded in 1993 in Budapest (Hungary), ABLON and its subsidiaries (together the "ABLON Group") has properties at 33 locations, of which there are 15 completed projects and 23 development projects in Budapest, Prague, Bucharest and Warsaw. Its portfolio comprises a diversified mix of office, residential, retail, logistics and hotel developments valued at approximately EUR370 million by external independent appraiser (Colliers International) as at 31 December 2012. The ABLON Group had, as at 31 December 2012, approximately 208,800 square metres of existing and income generating office, residential, hotel, retail and logistics assets (at 15 locations) in Budapest and Prague, with a significant development land bank comprising a further circa. 1,164,500 square metres (at 23 locations) in Budapest, Prague, Bucharest and Warsaw. ABLON's shares are traded on the Main Market of the London Stock Exchange under the ticker 'ABL'.

This information is provided by RNS

The company news service from the London Stock Exchange

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