10 December 2008
Real Estate Investors plc
("REI" or the "Company")
Result of General Meeting
Real Estate Investors plc (AIM: RLE), the West Midlands based property company,
is pleased to announce that at the General Meeting held earlier today,
Shareholders approved the resolution relating to the acquisition of Metro Court
(WB) Limited ("Metro Court"), a special purpose vehicle, whose principal asset
is a three storey office block located in West Bromwich town centre. Following
approval, the acquisition has been completed.
Defined terms used in this announcement have the meaning set out in the circular
to shareholders dated 24 November 2008.
Enquiries:
Real Estate Investors plc +44 (0)121 524 1174
Paul Bassi
Smith & Williamson Corporate Finance Limited +44 (0)20 7131 4000
Azhic Basirov / Siobhan Sergeant
Notes to Editors
1. REI is an AIM listed property investment and development company
specialising in commercial property throughout the Midlands and Central England
2. REI is focused on delivering shareholder value through returns generated
from strong yields and capital enhancements. This is achieved by targeting
investments in orphaned, distressed, part-let and underperforming commercial
property assets
3. REI's Board is led by respected property-entrepreneur Paul Bassi, who has
over 23 years of property experience. Mr Bassi is also founder and chairman of
Bond Wolfe Auctioneers, one of the UK's largest (top 50) property auction houses
and estate agents, and chairman of Bigwood Chartered Surveyors
4. REI was admitted to trading on AIM in June 2004. In December 2006, REI
successfully raised £25 million to aggressively grow its property portfolio, at
that time, estimated to be worth approximately £28 million. Paul Bassi is the
largest shareholder in the Company
5. Further information on REI can be found at www. reiplc.com