Heads of Terms signed


 

TIDMRPF 
 
RNS Number : 1957O 
Romania Property Fund Limited 
24 June 2010 
 

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|                                  |                     24 June 2010 | 
+----------------------------------+----------------------------------+ 
 
 
For immediate release 
 
                        The Romania Property Fund Limited 
                   ("Romania Property Fund" or "the Company") 
 
                              Heads of terms signed 
 
Further to the Company's announcement of 10 June 2010, the directors (the 
"Directors") of Romania Property Fund are pleased to announce the signing of 
non-binding heads of terms with Blackpearl Property Limited in relation to a 
potential acquisition by the Company of a portfolio of additional Romanian 
property assets and simultaneous fundraising. 
 
The proposals are subject, amongst other things, to the completion of 
satisfactory due diligence and valuations and, if consummated through legally 
binding agreements, will constitute a reverse takeover under the AIM Rules and 
full details of the proposals will be set out in an admission document which 
will include a notice convening an extraordinary general meeting to obtain the 
requisite shareholder consents. It is anticipated that the Company's audited 
accounts for the year ended 31 December 2009 will also be published at that 
time. 
 
Shareholders will be updated further in due course. 
 
For further information please contact: 
 
+---------------------------+----------+----------------------------------------+ 
| The Romania Property Fund |          |                                        | 
| Limited                   |          |                                        | 
+---------------------------+----------+----------------------------------------+ 
| Richard Prickett,         |          | +44 (0) 777 565 1421                   | 
| Chairman                  |          |                                        | 
+---------------------------+----------+----------------------------------------+ 
|                           |          |                                        | 
+---------------------------+----------+----------------------------------------+ 
| Canaccord Genuity Limited |          |                                        | 
| (Nominated Adviser and    |          |                                        | 
| Broker)                   |          |                                        | 
+---------------------------+----------+----------------------------------------+ 
| Sue Inglis / Robert       |          | +44 (0) 207 050 6500                   | 
| Finlay                    |          |                                        | 
+---------------------------+----------+----------------------------------------+ 
|                           |          |                                        | 
+---------------------------+----------+----------------------------------------+ 
| Sapphire Capital Partners |          |                                        | 
| LLP                       |          |                                        | 
| (Investment Manager)      |          |                                        | 
+---------------------------+----------+----------------------------------------+ 
| Boyd Carson               |          | +44 (0) 870 734 8912                   | 
+---------------------------+----------+----------------------------------------+ 
 
About The Romania Property Fund 
 
The Company is a closed-ended, Guernsey registered investment company. Its 
shares are traded on the Alternative Investment Market ("AIM"). 
 
The investment objective of the Company is to generate capital gains through 
investing in residential and commercial property in Romania. The investment 
strategy of the Company is to work with developers at the earliest possible 
stage. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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