BLD Bulgarian Land

 

TIDMBLD 
 
RNS Number : 2857N 
Bulgarian Land Development PLC 
09 June 2010 
 

9th June 2010 
 
                         Bulgarian Land Development Plc 
 
                    Notice of Extraordinary General Meeting 
 
 
Bulgarian Land Development Plc (the "Company"), the AIM listed Bulgarian 
residential and commercial development company, announces that an Extraordinary 
General Meeting ("EGM") of the Company will be held at 12.00 noon on 21 July 
2010 at 3rd Floor, 14 Athol Street, Douglas, Isle of Man, IM1 1JA. 
 
On 19 May 2010 the Company announced that it had received a requisition (the 
"Requisition") pursuant to section 113 of the Isle of Man Companies Act 1931 
(the "Act"). The Requisition was  from Chase Nominees Limited, acting as nominee 
and on the instructions of Carnegie Asset Management SA which, in turn, was 
acting solely on the instructions of Museion Förvaltning AB ("Museion") the 
beneficial owner of 19,084,778 (47.71%) of the ordinary shares in the Company. 
 
The Requisition required the Directors to convene an extraordinary general 
meeting ("EGM") of the Company to consider the following resolution as a special 
resolution (the "Resolution"): 
 
"That the Company's admission to trading on AIM is cancelled as soon as 
practicable from the date of the passing of this resolution." 
 
Pursuant to the Act, the Directors are required to comply with the Requisition 
and, accordingly, have convened an EGM for Wednesday 21 July 2010 at 12.00 noon 
at the Company's Registered Office. 
 
The directors of the Company understand that Museion are in discussion with 
other major shareholders regarding the strategy and management of the Company 
following the proposed de-listing should the Resolution be passed. 
 
The directors of the Company are seeking clarification from the requisitionists 
and the Company's other major shareholders as to their respective intentions. 
The Board will in any event write to all shareholders in advance of the EGM with 
further information and their consideration of the proposals. The directors of 
the Company therefore recommend that shareholders take no action at this time. 
 
Shareholders should note that should the resolution be passed at the EGM, it is 
the Directors' intention that the Company's shares should continue to trade on 
AIM for a minimum of twenty business days from the passing of such resolution. 
 
The Notice of EGM has been posted to shareholders and is available on the 
Company's website,  www.bld.bg. 
 
                                    - Ends - 
 
For further information, please contact: 
 
+-------------------------------+-------------------------------+ 
| Bulgarian Land Development    |                 020 7067 0700 | 
+-------------------------------+-------------------------------+ 
| Christo Iliev, Chief          |                               | 
| Executive,                    |                               | 
+-------------------------------+-------------------------------+ 
| Dimitar Savov, Executive      |                               | 
| Director                      |                               | 
+-------------------------------+-------------------------------+ 
| Andrew Daw, Finance Director  |                               | 
|                               |                               | 
+-------------------------------+-------------------------------+ 
| Collins Stewart Europe        |                 020 7523 8000 | 
| Limited                       |                               | 
+-------------------------------+-------------------------------+ 
| David Yovichic/Andrew         |                               | 
| Zychowski                     |                               | 
+-------------------------------+-------------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 NOEKKFDBOBKDDAK 
 

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