26th Jun 2007 12:04
Derwent London PLC26 June 2007 Derwent London plc26 June 2007 DERWENT LONDON PLC EGM RESULTS AND CONFIRMATION OF PROPOSED CONVERSION TO REAL ESTATE INVESTMENT TRUST STATUS Derwent London plc (the "Company") announces that the resolution proposed at theextraordinary general meeting held earlier today to approve certain amendmentsto the Company's Articles of Association in connection with the conversion ofthe Company and its subsidiaries (the "Group") to Real Estate Investment Trust("REIT") status was passed by the Company's shareholders. Accordingly, the Company confirms that it will be taking the necessary steps forthe Group to convert to a REIT with effect from 1 July 2007. This conversionwill be effected by way of a notification letter to HM Revenue & Customs andwill result in the payment of a conversion charge of 2 per cent. of the value ofthe Group's qualifying property assets. The precise amount of the conversion charge will be calculated once the Group'sindependent open market valuation as at 30 June 2007 has been completed, andwill be included in the announcement to shareholders to be made in September2007 in respect of the Group's interim results for the six months ended 30 June2007. ADDITIONAL INFORMATION The resolution was carried on a show of hands. The proxy figures for theresolutions will be shortly displayed on the Company's website,www.derwentlondon.com. Copies of the resolution passed at the Company's EGM have been submitted to theUK Listing Authority and will shortly be available for inspection by the publicduring normal business hours any weekday (public holidays excepted) at the UKListing Authority's Document Viewing Facility, which is situated at: The Financial Services Authority25 The North ColonnadeCanary WharfLondon E14 5HS Tel: +44 (0)20 7676 1000 CONTACT John Burns+44 (0)20 7659 3000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Derwent London