23rd Feb 2009 14:06
South African Property Opportunities plc
Re: Strategic review - update
Further to its announcement of a strategic review on 2 February 2009, the Board of South African Property Opportunities plc reports that an initial round of discussions with shareholders has now been completed. From this a number of issues have arisen and the Board is working towards publication of proposals which will seek to address these issues.
These proposals will include a commitment to return surplus cash to shareholders as soon as practicable and an ongoing commitment thereafter to return surplus cash as and when it is available.
In the meantime, in order to ensure the full independence of the Board in keeping with corporate governance best practice, Brian Myerson has agreed to stand down as a director of the Company with immediate effect.
A further announcement will be made in due course.
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For further information please contact:
South African Property Opportunities plc
Richard Tice, Director
+44 7785 900300
Matrix Corporate Capital LLP Paul Fincham+44 20 3206 7175
Related Shares:
South African Property Opportunities