UCP Ucp

TIDMUCP

RNS Number : 7672K

Unitech Corporate Parks Plc

27 June 2014

Unitech Corporate Parks plc

("UCP" or the "Company")

Result of Extraordinary General Meeting

And

Disposal Update

On 11 June 2014, the Company announced the proposed sale of Candor Investments Limited to Brookfield subject to certain conditions including, inter alia, the approval of the Company's Shareholders of the Disposal at the Extraordinary General Meeting. The Board of UCP is pleased to announce that at the Extraordinary General Meeting held earlier today, all Resolutions were duly passed. A summary of the votes cast in respect of each of the Resolutions proposed is as follows:

 
                                                               Votes in favour    Votes Against   Percentage of issued 
                                                                                                     shares voting* 
                                                                  No.       %       No.       % 
                                                                 shares            shares                   % 
                                                              -----------        ----------  ---  -------------------- 
 1. To approve the sale by the Company of the entire issued 
  share capital of Candor Investments 
  Limited                                                     315,100,682  99.3  2,246,058   0.7          88.2 
                                                              -----------  ----  ----------  ---  -------------------- 
 2. To approve the Company's new investment policy            315,100,682  99.3  2,246,058   0.7          88.2 
                                                              -----------  ----  ----------  ---  -------------------- 
 

* Total number of shares in issue amounted to 360,000,000

Following the passing of the Resolutions, the Disposal remains conditional, inter alia, upon:

(i) the obtaining of an approval to the contemplated transfer of Candor's shares by the SEZ Board;

(ii) no material adverse change taking place at the Group level, applying a material significance test; and

(iii) no law, order or judgment of any governmental authority having been issued or occurred prior to Completion which would have the effect of making Completion unlawful or illegal.

As stated in the circular published on 11 June 2014 (the "Circular"), whilst the timeframe for the satisfaction of the conditions is difficult to estimate, it is currently expected that Completion will occur in approximately 3 months. Further announcements will be made by the Company in due course.

Terms used and not defined in this announcement bear the meaning given to them in the Circular.

For further information please contact:

 
 Westhouse Securities Limited          Tel: +44 (0)20 7601 6118 
 Alastair Moreton 
                                      ------------------------- 
 Hannah Young 
                                      ------------------------- 
 Darren Vickers 
                                      ------------------------- 
 
 IOMA Fund and Investment Management   Tel: +44 (0)1624 681250 
  Limited 
                                      ------------------------- 
 Philip Scales 
                                      ------------------------- 
 Graham Smith 
                                      ------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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