Result of EGM (6679D)

TIDMDDE

RNS Number : 6679D

Develica Deutschland Ltd

25 March 2011

Develica Deutschland Limited (the "Company")

Result of Extraordinary General Meeting

Develica Deutschland Limited, the AIM listed German property investment company, announces that at its extraordinary general meeting held earlier today, both resolutions received 140,380,065 votes in favour, representing 99.65% of votes cast. There were 500,000 votes cast against both resolutions representing 0.35% of votes cast. Accordingly, both resolutions were passed. Mr Grant Tromans and the investment manager, Develica Deutschland Management Limited, representing 46,465,000 shares, abstained from voting. The board also declares an interim dividend of 1.5 euro cents per share. The shares will be marked ex-dividend on 28 March 2011 with the dividend record date being 30 March 2011. The dividend is expected to be paid on 21 April 2011. As set out in the Circular, and resolved by shareholders' voting results on the special resolution today, the Company's admission of shares to trading on AIM will be cancelled with effect from 7.00 a.m. on 4 April 2011. In addition, it was explained in the Circular that conditional on shareholders approving the resolutions, Peter Le Cheminant will be resigning as a director of the Company, which will be effective from 5 April 2011.

The Chairman, Mr Derek Butler, said the board were pleased to receive such strong support from shareholders and that the Company would now commence the orderly run off described in the Circular and return further cash to shareholders if and when possible.

Contact:

Derek Butler, Chairman, Develica Deutschland Limited.

Tel: [phone]

Philip Secrett, Grant Thornton Corporate Finance.

Tel: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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