Statement re mandatory offer

 

TIDMBPD 
 
RNS Number : 1936N 
Bulgarian Property DevelopmentsPLC 
12 February 2009 
 

FOR RELEASE 
07.00 
12 February 2009 
 
 
 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR 
FROM AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES 
 
 
 
 
Bulgarian Property Developments PLC 
("BPD" or "the Company") 
 
 
Shareholders advised to take no action in respect of the mandatory offer from 
Windsorville Investments Ltd. 
 
 
The Board of BPD has noted the mandatory offer from Windsorville Investments 
Ltd for BPD at 16 pence per ordinary share. This is at a very substantial 
discount to the company's last reported NAV. The Board will be meeting with its 
advisers later today but meanwhile recommends that shareholders take no action 
in respect of their shareholdings in BPD. 
 
 
Pursuant to Rule 2.10 of the Takeover Code, BPD announces that its issued share 
capital consists of 108,238,914 ordinary shares with a nominal value of 25p per 
share with voting rights of one vote per ordinary share. 
 
 
The International Securities Identification Number ('ISIN') for the ordinary 
shares is GB00B058TT05. 
 
 
Enquiries: 
 
 
Bulgarian Property Developments plc 
Ivo Hesmondhalgh (Joint Chief Executive)    [phone] 
 
 
Matrix Corporate Capital LLP (Nominated Adviser) 
Stephen Mischler                         [phone] 
 
 
Cubitt Consulting 
Simon Brocklebank-Fowler+44 (0) 20 7367 5100 
Brian Coleman-Smith / James Verstringhe 
 
 
Dealing Disclosure Requirements 
 
 
Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any 
person is, or becomes, 'interested' (directly or indirectly) in 1 per cent or 
more of any class of 'relevant securities' of BPD, all 'dealings' in any 
'relevant securities' of that company (including by means of an option in 
respect of, or a derivative referenced to, any such 'relevant securities') must 
be publicly disclosed by no later than 3.30 pm (London time) on the London 
business day following the date of the relevant transaction. This requirement 
will continue until the date on which the offer becomes, or is declared, 
unconditional as to acceptances, lapses or is otherwise withdrawn or on which 
the 'offer period' otherwise ends. If two or more persons act together pursuant 
to an agreement or understanding, whether formal or informal, to acquire an 
'interest' in 'relevant securities' of BPD, they will be deemed to be a single 
person for the purpose of Rule 8.3. 
 
 
Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant 
securities' of the offeror or of BPD by the offeror or BPD, or by any of their 
respective 'associates', must be disclosed by no later than 12.00 noon (London 
time) on the London business day following the date of the relevant transaction. 
 
 
A disclosure table, giving details of the companies in whose 'relevant 
securities' 'dealings' should be disclosed, and the number of such securities in 
issue, can be found on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk. 
 
 
'Interests in securities' arise, in summary, when a person has long economic 
exposure, whether conditional or absolute, to changes in the price of 
securities. In particular, a person will be treated as having an 'interest' by 
virtue of the ownership or control of securities, or by virtue of any option in 
respect of, or derivative referenced to, securities. 
 
 
Terms in quotation marks are defined in the Code, which can also be found on the 
Panel's website. If you are in any doubt as to whether or not you are required 
to disclose a 'dealing' under Rule 8, you should consult the Panel. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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