Stmnt re possible approach and Notice of EGM (3698X)
February 14 2012 - 5:00AM
UK Regulatory
TIDMOCH
RNS Number : 3698X
Orchid Developments Group Ltd
14 February 2012
AIM: OCH
14 February 2012
Orchid Developments Group Ltd
("Orchid" or the "Company")
Update ahead of Extraordinary General Meeting on 15 February
2012 ("EGM")
On 27 January 2012 Orchid, the specialist investor in the
Bulgarian real estate and leisure market, announced that it had
received a preliminary approach from a third party which may or may
not lead to an offer for the Company being made ("Approach").
The Company confirms that the Approach, which remains at a very
preliminary stage, has been made on the basis of publicly available
information and remains subject to due diligence and, accordingly,
there can be no guarantee that a transaction will ensue. The
Company is continuing to seek to clarify the terms of the Approach
but would like to emphasize that the indicative price currently
proposed by the third party is below the closing middle market
price per share on 13 February 2012.
Ends
Contacts:
Orchid Developments
Guy Meyohas +35 92 981 9955
Shore Capital and Corporate Limited
Dru Danford / Bidhi Bhoma / Toby
Gibbs +44 20 7408 4090
MHP Communications
Reg Hoare / Tim McCall / Vicky
Watkins +44 20 3128 8100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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