Offer Update

 

TIDMRTY 
 
RNS Number : 2023X 
Black Sea Global Properties Limited 
11 August 2009 
 

Not for release, publication or distribution in or into the United States of 
America, Canada, Australia, the Republic of South Africa or Japan 
11 August 2009 
BLACK SEA GLOBAL PROPERTIES LIMITED 
RUTLEY EUROPEAN PROPERTY LIMITED - LONDON STOCK EXCHANGE LISTING TO BE RETAINED 
On 7 August 2009, the board of Black Sea Global Properties Limited ("BSGP") 
announced that, on the closing of the Increased Offer for Rutley European 
Property Limited ("Rutley" or the "Company"), it owned or had received valid 
acceptances in respect of 158,107,495 Rutley Shares, representing, in aggregate, 
approximately 75.56 per cent. of the existing issued redeemable preference share 
capital of Rutley. 
The board of BSGP is pleased to announce that, following the sale of 4,200,000 
Rutley Shares at 7.25 pence per share on 10 August 2009, its holding has been 
reduced to 153,907,495 Rutley Shares, representing approximately 73.55 per cent. 
of the existing issued redeemable preference share capital of Rutley. 
As a result, after taking into account other shareholdings deemed not to be 
shares in public hands, Rutley is no longer in breach of Listing Rule 6.1.19 (3) 
and the Company's listing on the London Stock Exchange will be retained. 
Terms used but not defined in this announcement shall have the meaning given to 
them in the Increased Offer Document posted to Rutley Shareholders on 10 July 
2009. 
Enquiries 
+----------------------------------------------+----+----------------------+ 
| Lazard & Co., Limited (Financial Adviser to  |    | [phone] | 
| BSGP)                                        |    |                      | 
| Patrick Long                                 |    |                      | 
| Michael Bressler                             |    |                      | 
+----------------------------------------------+----+----------------------+ 
| Oriel Securities Limited (Broker to BSGP)    |    | [phone] | 
| Tom Durie                                    |    |                      | 
| Sapna Shah                                   |    |                      | 
+----------------------------------------------+----+----------------------+ 
| Financial Dynamics (PR adviser to BSGP)      |    | [phone] | 
| Richard Sunderland                           |    |                      | 
| Stephanie Highett                            |    |                      | 
| Rachel Drysdale                              |    |                      | 
+----------------------------------------------+----+----------------------+ 
 
 
Lazard & Co., Limited ("Lazard"), which is regulated by the Financial Services 
Authority, is acting for BSGP in connection with the Increased Offer and no-one 
else and will not be responsible to anyone other than BSGP for providing the 
protections afforded to customers of Lazard or for providing advice in relation 
to the Increased Offer. 
 
 
Oriel Securities Limited ("Oriel"), which is regulated by the Financial Services 
Authority, is acting for BSGP in connection with the Increased Offer and no-one 
else and will not be responsible to anyone other than BSGP for providing the 
protections afforded to customers of Oriel or for providing advice in relation 
to the Increased Offer. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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