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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Energypathways Plc | LSE:EPP | London | Ordinary Share | GB00BM9M0884 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.05 | -2.63% | 1.85 | 1.80 | 1.90 | 1.90 | 1.85 | 1.90 | 150,000 | 14:00:15 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Offices-holdng Companies,nec | 0 | -1.86M | -0.0701 | -0.26 | 504.45k |
RNS Number:1617S Eurocity Properties PLC 28 February 2002 ANNOUNCEMENT Eurocity Properties PLC ("Eurocity" or "the Company") Proposed Acquisitions and Temporary Suspension of Trading on AIM The Directors of Eurocity announce that the Company has entered into a conditional agreement to acquire all of the issued share capital of Uniplan Assets Limited ("Uniplan") and Fu Keung Venture Limited ("FKV") ("the Acquisition"). The Acquisition is subject, inter alia, to the completion of satisfactory due diligence and the approval of the shareholders of the Company in general meeting. Uniplan and FKV together beneficially own 99% of Lanzhou International Trade Building Company Limited ("Lanzhou"). The remaining 1% of Lanzhou is owned by Gansu Economic Cooperation Commerce & Trade Company. Lanzhou owns the equivalent of a long leasehold interest in the main building ("Main Building") at the Lanzhou International Trade Center, 258-260 Qingyang Road, Lanzhou, Gansu Province, People's Republic of China. The Lanzhou International Trade Center is a large scale urban renewal project initiated in 1993 and comprises the partly completed Main Building (which comprises a completed and partly let retail podium and base for a proposed hotel tower), a completed hotel/commercial composite building and a completed office/commercial composite building. The latter two buildings have already been disposed of by Lanzhou and will not form part of the Acquisition. The Main Building has been valued by CB Richard Ellis at £42.89m (based upon an exchange rate of RMB 11.7736:£1, being the mid market rate as at close of business on 26 February 2002) and the aggregate net asset value of the interests being acquired is anticipated to be approximately £39 million on completion. The consideration for the proposed Acquisition is £39.1m, to be satisfied entirely by the issue of 78,181,818 new ordinary shares in Eurocity at 50p per share. The Acquisition constitutes a "reverse takeover" under the AIM Rules of the London Stock Exchange and accordingly requires the consent of Eurocity shareholders. In accordance with the AIM Rules regarding reverse takeovers, the Board of Eurocity has decided to seek a suspension of trading in its shares. In addition, following completion of the Acquisition the vendors of Uniplan and FKV will hold in excess of 30% of the enlarged issued share capital of Eurocity. Consequently, Eurocity will be seeking a waiver of Rule 9 of the City Code on Takeovers and Mergers, which would otherwise require the vendors of Uniplan and FKV to make a general offer to Eurocity shareholders. Further information on the Acquisition will be set out in a circular which will be despatched to Eurocity shareholders at the earliest practicable opportunity. Press enquiries Baron Bloom, Managing Director Eurocity Properties PLC 020 7286 4433 Robert Lo/Keith Smith Nabarro Wells & Co. Limited 020 7710 7400 27 February 2002 This information is provided by RNS The company news service from the London Stock Exchange
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