Acquisition

 

TIDMIRET TIDMRUGB 
 
RNS Number : 7192K 
ING UK Real Estate Income Trust Ltd 
23 April 2010 
 

ING UK Real Estate Income Trust Limited 
Acquisition of shares 
23 April 2010 
 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR 
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND 
POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO 
US PERSONS (AS SUCH TERM IS DEFINED UNDER REGULATION S OF THE US SECURITIES ACT 
OF 1933, AS AMENDED) OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE A 
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION 
 
FOR IMMEDIATE RELEASE 
 
                    ING UK Real Estate Income Trust Limited 
 
 
          Acquisition of shares in Rugby Estates Investment Trust plc 
 
 
The Board of ING UK Real Estate Income Trust Limited ("ING UK RET") is pleased 
to announce that it has today acquired 4,782,065 ordinary shares of 1p each 
("Shares") in Rugby Estates Investment Trust plc ("Rugby REIT") at a price of 
63p per share.  The Shares acquired represent 8.1 per cent of Rugby REIT's 
issued share capital. 
As referred to in the offer document dated 21 April 2010 relating to the 
recommended offer for Rugby REIT by IRET Securities Limited ("IRET Securities"), 
a wholly owned subsidiary of ING UK RET which was posted to Rugby REIT 
shareholders and (for information only) to ING UK RET shareholders yesterday, 
IRET Securities has received irrevocable undertakings to accept the Offer from 
Rugby REIT shareholders in respect of a total of 26,195,454 Rugby REIT shares, 
representing approximately 44.4 per cent of Rugby REIT's existing issued share 
capital. 
Today's purchase of Rugby REIT Shares means that IRET Securities, together with 
persons acting in concert with it, is interested in relevant securities in Rugby 
REIT which, when taken together with relevant securities in Rugby REIT which are 
the subject of irrevocable undertakings, represent 52.6 per cent of Rugby REIT's 
issued share capital. 
For further information: 
 
ING Real Estate Investment Management 
            Tel: [phone] 
(Investment Manager) 
Michael Morris 
 
Helen Stott 
 
ING Corporate Finance 
                        Tel: [phone] 
(Joint Financial Adviser to ING UK RET) 
William Marle 
 
John Denby 
 
J.P. Morgan Cazenove 
                       Tel: [phone] 
(Joint Financial Adviser and Broker to ING UK RET) 
William Simmonds 
 
Northern Trust 
                               Tel: [phone] 
(Company Secretary) 
David Sauvarin 
 
 
 
 
Financial Dynamics 
                          Tel: [phone] 
(Financial PR) 
                                 / 020 7269 7261 
Dido Laurimore 
Laurence Jones 
 
DEALING DISCLOSURE REQUIREMENTS 
 
Under Rule 8.3(a) of the Takeover Code, any person who is interested in 1% or 
more of any class of relevant securities of Rugby REIT, ING UK RET or IRET 
Securities must make an Opening Position Disclosure following the commencement 
of the offer period and, if later, following the announcement in which any paper 
offeror is first identified. An Opening Position Disclosure must contain details 
of the person's interests and short positions in, and rights to subscribe for, 
any relevant securities of each of (i) Rugby REIT; (ii) ING UK RET; and (iii) 
IRET Securities. An Opening Position Disclosure by a person to whom Rule 8.3(a) 
applies must be made by no later than 3.30 pm (London time) on the 10th business 
day following the commencement of the offer period and, if appropriate, by no 
later than 3.30 pm (London time) on the 10th business day following the 
announcement in which any paper offeror is first identified. Relevant persons 
who deal in the relevant securities of Rugby REIT, ING UK RET or IRET Securities 
prior to the deadline for making an Opening Position Disclosure must instead 
make a Dealing Disclosure. 
 
Under Rule 8.3(b) of the Takeover Code, any person who is, or becomes, 
interested in 1% or more of any class of relevant securities of Rugby REIT, ING 
UK RET or IRET Securities must make a Dealing Disclosure if the person deals in 
any relevant securities of Rugby REIT, ING UK RET or IRET Securities. A Dealing 
Disclosure must contain details of the dealing concerned and of the person's 
interests and short positions in, and rights to subscribe for, any relevant 
securities of each of (i) Rugby REIT; (ii) ING UK RET; and (iii) IRET 
Securities, save to the extent that these details have previously been disclosed 
under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must 
be made by no later than 3.30 pm (London time) on the business day following the 
date of the relevant dealing. 
 
If two or more persons act together pursuant to an agreement or understanding, 
whether formal or informal, to acquire or control an interest in relevant 
securities of Rugby REIT, ING UK RET or IRET Securities they will be deemed to 
be a single person for the purpose of Rule 8.3. 
 
Opening Position Disclosures must also be made by Rugby REIT, ING UK RET and 
IRET Securities and Dealing Disclosures must also be made by Rugby REIT, ING UK 
RET, IRET Securities and by any persons acting in concert with any of them (see 
Rules 8.1, 8.2 and 8.4). 
 
Details of Rugby REIT, ING UK RET and IRET Securities in respect of whose 
relevant securities Opening Position Disclosures and Dealing Disclosures must be 
made can be found in the Disclosure Table on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk, including details of the number of relevant 
securities in issue, when the offer period commenced and when ING UK RET or IRET 
Securities was first identified. If you are in any doubt as to whether you are 
required to make an Opening Position Disclosure or a Dealing Disclosure, you 
should contact the Panel's Market Surveillance Unit on [phone]. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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