TIDMABL
RNS Number : 2361X
Ablon Group Limited
06 February 2013
FOR RELEASE AT 6 February 2013
Ablon Group Limited ("Ablon" or the "Company")
Preliminary approach to Ablon Group Limited and Board change
The Company notes that it has received a preliminary approach
from CPI Group, a.s. ("CPI"), which may or may not lead to an offer
being made for the whole of the issued and to be issued share
capital of the Company.
CPI has indicated that it is considering a possible offer at
22.50 p per ordinary share in cash, valuing the Company's entire
issued share capital at GBP30.8 million. CPI has indicated that any
offer, if made, may take the form of a mandatory offer in
accordance with the requirements of Rule 9 of the City Code on
Takeovers and Mergers (the "Code"). CPI has further indicated that
if an offer is made and is successful, CPI intends to cancel the
Company's listing from the Official List.
In conjunction with this preliminary approach, each of Mr
Radovan Vítek and Mr Martin N meček has resigned as a director of
the Company. Mr Radovan Vítek owns all of the shares in CPI and CPI
holds 30,443,938 ordinary shares in the capital of the Company
(representing 22.23% of the total issued share capital of the
Company). Mr Martin N meček is the head of acquisitions at Czech
Property Investments, a.s., which is also owned by Mr Radovan
Vítek.
This announcement does not amount to a firm intention to make an
offer under Rule 2.7 of the Code.
As a consequence of this announcement, an 'Offer Period' has now
commenced in respect of the Company in accordance with the rules of
the Code.
In accordance with Rule 2.6(a) of the Code, CPI must, by not
later than 5.00 p.m. on 6 March 2013, being the 28(th) day
following the date of this announcement, either announce a firm
intention to make an offer for the Company in accordance with Rule
2.7 of the Code or announce that it does not intend to make an
offer, in which case the announcement will be treated as a
statement to which Rule 2.8 of the Code applies. This deadline will
only be extended with the consent of the Panel in accordance with
Rule 2.6(c) of the Code.
This announcement is made with the agreement of CPI.
In accordance with Rule 2.10 of the Code, the Company confirms
that, as at the close of business on 5 February 2013, its issued
share capital consisted of 136,938,116 ordinary shares with a
nominal value of EUR0.01 each ("Ordinary Shares"). The
International Securities Identification Number for the Ordinary
Shares is GG00B1LB2139.
A further announcement will be made in due course, as
appropriate.
Enquiries:
Alex Borrelli / Adrienn Lovro
Ablon Group Limited
+44 7747 020 600/+36 1 225 6600
Roland Cornish/Emily Staples
Beaumont Cornish Limited
+44 207 628 3396
Beaumont Cornish Limited ("Beaumont Cornish") which is
authorised and regulated in the United Kingdom by The Financial
Services Authority is acting for the Company in relation to the
matters described in this announcement and is not advising any
other person, and accordingly will not be responsible to anyone
other than the Company for providing the protections afforded to
customers of Beaumont Cornish or for providing advice in relation
to the matters described in this announcement.
Dealing Disclosure Requirements
Under Rule 8.3(a) of the Code, any person who is interested in 1
per cent. or more of any class of relevant securities of an offeree
company or of any paper offeror (being any offeror other than an
offeror in respect of which it has been announced that its offer
is, or is likely to be, solely in cash) must make an Opening
Position Disclosure following the commencement of the offer period
and, if later, following the announcement in which any paper
offeror is first identified. An Opening Position Disclosure must
contain details of the person's interests and short positions in,
and rights to subscribe for, any relevant securities of each of (i)
the offeree company and (ii) any paper offeror(s). An Opening
Position Disclosure by a person to whom Rule 8.3(a) applies must be
made by no later than 3:30pm (London time) on the 10th business day
following the commencement of the offer period and, if appropriate,
by no later than 3:30pm (London time) on the 10th business day
following the announcement in which any paper offeror is first
identified. Relevant persons who deal in the relevant securities of
the offeree company or of a paper offeror prior to the deadline for
making an Opening Position Disclosure must instead make a Dealing
Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes,
interested in 1 per cent. or more of any class of relevant
securities of the offeree company or of any paper offeror, must
make a Dealing Disclosure if the person deals in any relevant
securities of the offeree company or of any paper offeror. A
Dealing Disclosure must contain details of the dealing concerned
and of the person's interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree
company and (ii) any paper offeror, save to the extent that these
details have previously been disclosed under Rule 8. A Dealing
Disclosure by a person to whom Rule 8.3(b) applies must be made by
no later than 3:30pm (London time) on the business day following
the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a paper
offeror, they will be deemed to be a single person for the purpose
of Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and
8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Panel's website at www.thetakeoverpanel.org.uk, including
details of the number of relevant securities in issue, when the
Offer Period commenced and when any offeror was first identified.
If you are in any doubt as to whether you are required to make an
Opening Position Disclosure or a Dealing Disclosure, you should
contact the Panel's Market Surveillance Unit on +44 (0)20 7638
0129.
The defined terms used in this section "Dealing Disclosure
Requirements" are defined in the Code which can be found on the
Panel's website.
A copy of this announcement will be made available (subject to
certain restrictions relating to persons resident in restricted
jurisdictions) at http://www.ablon-group.com by no later than 12
noon (London time) on 7 February 2013, being the date following the
date of this announcement.
About ABLON Group Limited
Founded in 1993 in Budapest (Hungary), ABLON and its
subsidiaries (together the "ABLON Group") has properties at 33
locations, of which there are 15 completed projects and 23
development projects in Budapest, Prague, Bucharest and Warsaw. Its
portfolio comprises a diversified mix of office, residential,
retail, logistics and hotel developments valued at EUR385 million
as at 30 June 2012. The ABLON Group had, as at 30 June 2012,
202,000 square metres of existing and income generating office,
residential, hotel, retail and logistics assets (at 15 locations)
in Budapest and Prague, with a significant development land bank
comprising a further 1,159,600 square metres (at 23 locations) in
Budapest, Prague, Bucharest and Warsaw. ABLON's shares are traded
on the Main Market of the London Stock Exchange under the ticker
'ABL'.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGIGDDSDGBGXL
Ablon (LSE:ABL)
Historical Stock Chart
From Sep 2024 to Oct 2024
Ablon (LSE:ABL)
Historical Stock Chart
From Oct 2023 to Oct 2024