Rule 8.3-DEV Property Develop

RNS Number:2104Q
QVT Financial LP
14 March 2008

                                                                       FORM 8.3

    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE    
                        (Rule 8.3 of the Takeover Code)                         

1. KEY INFORMATION                         
 
Name of person dealing (Note 1)            QVT Financial LP

Company dealt in                           Dev Property Development PLC               

Class of relevant security to which        Ordinary Shares 1p              
the dealings being disclosed relate                       
(Note 2)                                                  

Date of dealing                            March 14, 2008               


2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a) Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)
 
                                              Long                  Short      
                                        Number           (%)   Number        (%) 

(1) Relevant securities                 1,470,000      1.06522              
                                                     
(2) Derivatives (other than options)     

(3) Options and agreements to                           
purchase/sell                                           

Total                                   1,470,000      1.06522                


(b) Interests and short positions in relevant securities of the company, other
than the class dealt in (Note 3)

 
Class of relevant security:                   Long                  Short      
                                        Number         (%)     Number        (%) 

(1) Relevant securities                 None                 

(2) Derivatives (other than options)    None                                             

(3) Options and agreements to           None                 
purchase/sell                                            

Total                                                   

 

(c) Rights to subscribe (Note 3)

 
Class of relevant security:            Details                          

                                       None                   

 

3. DEALINGS (Note 4)

 
(a) Purchases and sales
 
Purchase/sale       Number of securities        Price per unit (Note 5)             
                                                        
Purchase            1,000,000                   £0.9125

(b) Derivatives transactions (other than options)
 
Product        Long/short      Number of        Price per    
name, e.g.     (Note 6)        securities       unit (Note 5)
CFD                            (Note 7)                            
                          
                                                 
                                                        

(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying

 
Product     Writing,      Number of    Exercise   Type,      Expiry  Option  
name,e.g.   selling,      securities   price      e.g.       date    money   
call        purchasing,   to which                American,          paid/   
option      varying       the option              European           received
            etc.          relates                 etc.               per unit
                          (Note 7)                                   (Note 5)
                                                                   

 

(ii) Exercising

 
Product name,           Number of         Exercise price per unit 
e.g. call option        securities        (Note 5)                

                                                        

 

(d) Other dealings (including new securities) (Note 4)

 
Nature of transaction   Details         Price per unit 
(Note 8)                                (if applicable)
                                        (Note 5)       
                                                       

 

4. OTHER INFORMATION


Agreements, arrangements or understandings relating to options or derivatives
 

Full details of any agreement, arrangement or understanding between the person
disclosing and any other person relating to the voting rights of any relevant
securities under any option referred to on this form or relating to the voting
rights or future acquisition or disposal of any relevant securities to which any
derivative referred to on this form is referenced. If none, this should be
stated.

 
..............................................................................


 

Is a Supplemental Form 8 attached? (Note 9)           NO
 
 
Date of disclosure                                    March 14, 2008   
                                                         
Contact name                                          Lars Bader   
                                                         
Telephone number                                      [phone]   
                                                         
If a connected EFM, name of offeree                      
/offeror with which connected                            

If a connected EFM, state nature of                      
connection (Note 10)                                     

Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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