Proposed Interim Dividend


 

TIDMDGRE 
 
RNS Number : 7479Q 
Delek Global Real Estate PLC 
17 April 2009 
 

Not for release, publication or distribution in whole or in part in, into or 
from any jurisdiction (including the United States) where to do so would 
constitute a violation of the relevant laws or regulations of such jurisdiction. 
FOR IMMEDIATE RELEASE 
17 April 2009 
Delek Global Real Estate plc 
 
 
("DGRE" or the "Company") 
 
 
Proposed Interim Dividend and Adjournment of Court Meeting 
 
 
The Company announced on 20 March 2009 that it was not proposing a final 
dividend in relation to the year ended 31 December 2008 as a direct result of 
Delek Belron International Limited ("DBI"), its controlling shareholder, 
indicating to the Board of DGRE that it would vote against any such proposed 
dividend. 
After discussions between the Independent Directors of DGRE, certain minority 
shareholders of the Company and DBI, the Board of DGRE today announces an 
interim dividend of seven pence per DGRE Share. 
This dividend will be payable on 5 May 2009 (or as soon as practicable 
thereafter) to those DGRE Shareholders whose names are on the register at the 
close of business on 1 May 2009. The DGRE Shares will become ex-dividend on 29 
April 2009. 
Part of the interim dividend otherwise payable to DBI (amounting to 
approximately GBP15.1 million in total) will be applied by the Company in 
repaying in full the outstanding amount under the loan to DBI (inclusive of 
accrued interest and expenses), which was the subject of an announcement dated 
31 March 2009. 
The decision to pay this dividend necessitates changes to the circular sent to 
DGRE Shareholders on 24 March 2009, which contained details of a proposal 
whereby DBI intends to acquire, for 50 pence in cash, the entire issued share 
capital of DGRE (which it and Delek Real Estate Limited do not, taken together, 
already own), to be effected by way of a scheme of arrangement between DGRE and 
the Scheme Shareholders under Article 125 of the Jersey Law (the "Proposal"). A 
supplementary circular relating to the Proposal will be sent to DGRE 
Shareholders in due course. 
Consequently, the board of DGRE announces that it intends to adjourn the Court 
Meeting scheduled to be held later today to a date to be fixed. DGRE intends to 
apply to the Court to reconvene the Court Meeting and consequently to change the 
date of the Court Hearing. The dates of the reconvened Court Meeting and the 
Court Hearing will be announced and circulated to Scheme Shareholders once 
fixed. 
Terms defined in the Scheme Document dated 24 March 2009 have the same meanings 
as in this announcement. 
 
Enquiries 
+----------------------------------------------+----------------------+ 
| Independent Directors of Delek Global Real   |                      | 
| Estate plc                                   |                      | 
+----------------------------------------------+----------------------+ 
| Howard Stanton, Chairman                     | +44 (0) 7785 282 150 | 
+----------------------------------------------+----------------------+ 
|                                              |                      | 
+----------------------------------------------+----------------------+ 
| Panmure Gordon (Lead Financial Adviser to    | +44 (0) 20 7459 3600 | 
| the Independent Directors)                   |                      | 
+----------------------------------------------+----------------------+ 
| Hugh Morgan                                  |                      | 
+----------------------------------------------+----------------------+ 
|                                              |                      | 
+----------------------------------------------+----------------------+ 
| Rothschild (Financial Adviser to the         | +44 (0) 20 7280 5000 | 
| Independent Directors)                       |                      | 
+----------------------------------------------+----------------------+ 
| Alex Midgen                                  |                      | 
+----------------------------------------------+----------------------+ 
|                                              |                      | 
+----------------------------------------------+----------------------+ 
| Delek Belron International Limited           | +972 (0) 3 61 12282  | 
+----------------------------------------------+----------------------+ 
| Eran Meytal, Chairman                        |                      | 
+----------------------------------------------+----------------------+ 
|                                              |                      | 
+----------------------------------------------+----------------------+ 
| Deloitte Corporate Finance (Financial        | +44 (0) 20 7936 3000 | 
| Adviser to DBI)                              |                      | 
+----------------------------------------------+----------------------+ 
| Jonathan Hinton                              |                      | 
+----------------------------------------------+----------------------+ 
| Leonie Grimes                                |                      | 
+----------------------------------------------+----------------------+ 
|                                              |                      | 
+----------------------------------------------+----------------------+ 
| Pelham PR                                    | +44 (0) 20 7337 1500 | 
+----------------------------------------------+----------------------+ 
| Alex Walters                                 |                      | 
+----------------------------------------------+----------------------+ 
 
 
Panmure Gordon, which is authorised and regulated in the United Kingdom by the 
Financial Services Authority, is acting exclusively as financial adviser to DGRE 
and no one else in connection with the Proposal and will not be responsible to 
anyone other than DGRE for providing the protections afforded to the clients of 
Panmure Gordon nor for advice in connection with the Proposal or any other 
matter referred to in this announcement. 
Rothschild, which is authorised and regulated in the United Kingdom by the 
Financial Services Authority, is acting exclusively as financial adviser to DGRE 
and no one else in connection with the Proposal and will not be responsible to 
anyone other than DGRE for providing the protections afforded to the clients of 
Rothschild nor for advice in connection with the Proposal or any other matter 
referred to in this announcement. 
 
 
Deloitte Corporate Finance is acting exclusively as financial adviser to DBI and 
no-one else in connection with the Proposal and will not regard any other person 
as its client nor be responsible to anyone other than DBI for providing the 
protections afforded to clients of Deloitte Corporate Finance nor for providing 
advice in relation to the Proposal or any matter referred to in this 
announcement. Deloitte Corporate Finance is a division of Deloitte LLP, which is 
authorised and regulated by the Financial Services Authority in respect of 
regulated activities. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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