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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Real Estate | LSE:REO | London | Ordinary Share | GB0030364995 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMREO
RNS Number : 2731W
Real Estate Opportunities PLC
26 January 2012
Real Estate Opportunities plc
NAMA update
The Company announces that following the announcement it made on 25 January 2012, a receiver has been appointed to each of the following Group subsidiaries, together the "Subsidiaries":
-- Wintertide Limited; -- Radtip Properties Limited; -- Tenderbrook Limited; -- Sencode Limited; -- Lornabay Limited; -- Twynholm Limited; -- Rigol Limited; -- Ballymun Shopping Centre Limited; and -- Coolred Limited.
Both Rigol Limited and Radtip Properties Limited are 50% owned by the Group.
The challenge by way of judicial review made by the Subsidiaries to the appointment of the receivers, and to the making of demands by NAMA in respect of the underlying loans, will be heard by the Irish High Court on 21 February 2012, that court directed yesterday. Pending the court's decision on the validity of NAMA's actions, the Subsidiaries have undertaken to cooperate with the receivers. The receivers have undertaken to give 48 hours' notice to Treasury Holdings before initiating any process of sale.
The Board has requested that the Company's shares be temporarily suspended from trading on the main market of the London Stock Exchange with effect from 7.00am on 27 January 2012 pending the outcome of the hearing on 21 February 2012.
Enquiries:
Real Estate Opportunities plc
Ray Horney, Chairman
Tel: +44 (0)1273 775 225
Matrix Corporate Capital
Paul Fincham / Jonathan Becher
Tel: +44 (0)20 3206 7000
RLM Finsbury
Gordon Simpson
Tel: +44 (0)207 251 3801
Murray Consult
Ed Micheau
Tel: +353 1 498 0300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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