31st Aug 2007 11:05
Black Sea Property Fund Limited31 August 2007 For Immediate Release 31 August 2007 BLACK SEA PROPERTY FUND LIMITED (the "Fund") Requisition of an EGM Receipt of Notice for the Requisition of an EGM from Vidacos Nominees Ltd. on behalf of QVT Fund LP The board of the Fund (the "Board") announces that it received notice fromVidacos Nominees Limited. on behalf of QVT Fund LP on 29 August 2007,requisitioning an extraordinary general meeting of the Fund to consider ordinaryresolutions for the removal of Melville Trimble (Chairman and director) andRoger Maddock (director) from the Board and for the appointment of John Chapman,Angelo Moskov, Andrey Kruglykhin and Anthony Gardner-Hillman as directors of theFund. Subject to clarification on certain regulatory matters, the Board will convenean extraordinary general meeting within 21 days to allow shareholders toconsider and vote on these resolutions. The timing of the requisition is surprising given the announcement on 24 August2007 of a strategic review of the Fund and the appointment of new financialadvisers. In conducting this strategic review, the Board is committed toconsidering a range of options, the aim of which is to enhance shareholdervalue. The Board is also committed to ensuring full consultation withshareholders throughout the process. In assessing any proposals, the Board willconsider whether they are in the interests of all shareholders. The Board expects to make a further announcement prior to the publication of anycircular to shareholders. Enquiries Sue Inglis/Chris Intelli Corporate Finance Limited T: 020 7653 6300Whittingslow (Financial Adviser) Charles Farquhar/ Anthony Numis Securities Ltd (NOMAD and T: 020 7260 1000Richardson Broker) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BKSA.L