TIDMMAX

RNS Number : 7774O

Max Property Group PLC

11 August 2014

11 August 2014

Max Property Group Plc

("Max" or the "Company")

Result of Extraordinary General Meeting

Max announces that all the resolutions proposed at the Extraordinary General Meeting of the Company held today were duly passed, with votes representing 79.5% of the Company's share capital having been lodged, all of which were in favour of the resolutions.

As announced on 22 July 2014, the resolutions were to approve the proposed sale by Max of the entire issued share capital of MPG Opco, a wholly owned subsidiary of the Company that owns its entire property portfolio, to Marina Topco (Jersey) Limited (the "Sale"); to wind up the Company; and to cancel the admission to trading of the Company's Ordinary Shares on AIM and the listing of the Company's Ordinary Shares on the Daily Official List of the CISE (the "Delisting").

As a result of the resolutions being passed, and subject to the completion of the Sale which is expected to occur on 18 August 2014, the Delisting will become effective from 7.00am on 19 August 2014 with the last day of dealing in Ordinary Shares of the Company on AIM and the CISE being 18 August 2014. In accordance with the expected timetable of events as previously announced and set out below, and conditional on the completion of the Sale, the first cash liquidation distribution to Max shareholders pursuant to the Return of Cash, amounting to 168.7 pence per share (rounded down to the nearest number of whole pence for each shareholding), will be made on 21 August 2014.

A further announcement will be made in due course regarding the completion of the Sale.

Enquiries:

 
 Prestbury Investments LLP                      +44 20 7647 7647 
 Mike Brown / Sandy Gumm 
 
 Oriel Securities Limited (Nominated Adviser 
  to Max)                                       +44 20 7710 7600 
 Mark Young / Nicholas How 
 
 FTI Consulting (Financial PR for Max)          +44 20 3727 1000 
 Stephanie Highett / Nina Legge

EXPECTED TIMETABLE OF EVENTS

 
 Completion of the Sale                                        18 August 2014 
 Record date for participation in Return               7.00 a.m. on 19 August 
  of Cash                                                                2014 
 Commencement of the Winding Up                                19 August 2014 
 Delisting from AIM and CISE                           7.00 a.m. on 19 August 
                                                                         2014 
 First cash liquidation distribution to Shareholders 
  pursuant to the Return of Cash                               21 August 2014

Notes

-- References to times in this announcement are to London time. All dates and times are subject to change. If any of the above dates and times should change, the revised dates and/or times will be notified to Shareholders by an announcement on a Regulatory Information Service.

-- Terms used and not defined in this announcement shall have the meanings given in the Circular dated 22 July 2014.

This information is provided by RNS

The company news service from the London Stock Exchange

END

REGUAURRSRAWAAR

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