Statement re. Suspension


 

TIDMRPF 
 
RNS Number : 4096N 
Romania Property Fund Limited 
10 June 2010 
 

+----------------------------------+----------------------------------+ 
|                                  |                     10 June 2010 | 
+----------------------------------+----------------------------------+ 
 
 
For immediate release 
 
                        The Romania Property Fund Limited 
                   ("Romania Property Fund" or "the Company") 
 
                          Suspension of trading on AIM 
 
The directors (the "Directors") of Romania Property Fund report that they have 
today requested that the Company's shares be suspended from trading on AIM with 
immediate effect due to uncertainty in relation to the Company's current 
financial position. 
 
The Company is required to release its audited accounts for the period ended 31 
December 2009 to shareholders by 30 June 2010. The Directors note that given the 
Company's current financial position, and following discussions with its 
auditors, the audited accounts would not be able to include confirmation that 
the Company will continue to operate as a going concern. 
 
The Company is currently in discussions regarding a potential restructuring of 
the Company and simultaneous fundraising. These proposals would constitute a 
reverse takeover under the AIM Rules and a restoration of trading in the 
Company's shares would only occur upon publication by the Company of a 
re-admission document containing full details of the proposals and seeking the 
requisite shareholder consents. It is anticipated that the Company's audited 
accounts would also be published at such time. However, if such proposals are 
not consummated, the Directors expect that the Company will be placed into 
administration. 
 
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 Finlay  |          | +44 (0) 207 050 6500                   | 
+---------------------------+----------+----------------------------------------+ 
 
Sapphire Capital Partners LLP 
(Investment Manager) 
Boyd Carson                                                +44 (0) 870 734 8912 
 
 
About Romania Property Fund 
 
The Company is a closed-ended, Guernsey registered investment company. Its 
shares are listed and 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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