Offer Wholly Unconditional

 

TIDMIRET TIDMRUGB 
 
RNS Number : 9566L 
ING UK Real Estate Income Trust Ltd 
14 May 2010 
 

                    ING UK Real Estate Income Trust Limited 
 
 
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 
 
14 May 2010 
 
                  Recommended Offer by IRET Securities Limited 
    (a wholly owned subsidiary of ING UK Real Estate Income Trust Limited) 
                     for Rugby Estates Investment Trust plc 
 
                           Offer Wholly Unconditional 
 
The Board of ING UK Real Estate Income Trust Limited ("ING UK RET") announces 
that its Offer for Rugby Estates Investment Trust plc ("Rugby REIT") has become 
unconditional in all respects following valid acceptances received in respect of 
56,840,288 ordinary shares of 1p each ("Shares") in Rugby REIT, representing in 
total approximately 96.43 per cent. of Rugby REIT Shares to which the Offer 
related, and Admission of 13,399,728 New ING UK RET Ordinary Shares which has 
been approved earlier today. All remaining conditions of the Offer have been 
waived by the Board of ING UK RET. 
As stated in the announcement dated 13 May 2010, the Offer, including each of 
the Share Offer, the ZDP Alternative and the Cash Alternative, will remain open 
for acceptances until 1.00 pm (London time) on 26 May 2010 unless extended. 
ING UK RET intends to procure that Rugby REIT will apply to the London Stock 
Exchange ("LSE") to cancel the trading of Rugby REIT Shares and the listing of 
Rugby REIT Shares on the LSE ("De-listing"). It is anticipated that De-listing 
will take effect no earlier than 15 June 2010 which is 20 business days from 
today's date. 
 
Since ING UK RET has received valid acceptances and acquired over 90 per cent. 
of Rugby REIT Shares to which the Offer relates, ING UK RET will seek to 
exercise its rights pursuant to the provisions of sections 974 to 991 of the 
Companies Act 2006 to acquire compulsorily the remaining Rugby REIT Shares in 
respect of which the Offer has not been accepted. A further announcement will be 
made as appropriate. 
 
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 
 
 
Terms defined in the Offer Document dated 21 April 2010 have the same meaning in 
this Announcement, unless the context requires otherwise. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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