Print   



Nanette Real Estate Group NV

'Nanette' or 'the Company'

Notice Regarding Delisting

Nanette's board of directors believe the disadvantages of maintaining the Company's listing exceed the benefits, and therefore believe that the cancellation of the Company's listing on AIM is in the best interests of shareholders.  Consequently the board recommended that the Company will shortly convene an Extraordinary General Meeting ('EGM') at which a resolution proposing the cancellation of the Company's AIM listing will be brought to the approval of the shareholders. The date of the EGM will be announced within 7 days.

In accordance with Rule 41 of the AIM rules, the cancellation of the Company's listing is conditional on the consent of not less than 75% of votes cast by shareholders at the general meeting.

The board's main reasons for delisting are as follows: 

• The Company's share price does not reflect the full value of the Company, and is harming the Company's ability to raise funds

• The running costs of maintaining the AIM listing and the regulatory requirements involved in the continuing listing on AIM are high

• The Company's stock is relatively illiquid

The proposed delisting would result in substantial cost savings to the Company.

The Board intends to continue to maintain the corporate governance principles to ensure an appropriate flow of information to investors.  In addition, the board intends to consider the listing of the Company's shares on another stock exchange when market conditions improve.

Following the delisting, the Company's shares will not be registered on any stock exchange. However, the Company's bonds will continue to be traded on the Tel Aviv Stock Exchange. Therefore, and for as long as the Company's bonds are traded on the Tel Aviv Stock Exchange, the Company will continue to report in Tel Aviv according to Israeli Securities Laws and regulations.

In line with the above resolution an extraordinary meeting of the shareholders will be convened within about 21 days in which the above proposed resolution will be brought for the decision of the shareholders of the Company.

A further announcement will be made in due course including the proposed date for cancellation, if approved by the general meeting.

     21 August, 2009

Enquiries:                                                                                            

Nanette Real Estate
	Shaul Lotan	+ 31 20 778 4141
	Eyal Keltsh	+ 48 606 141 201
Global Equity IR
	Amira Bardichev	07956 206270
KBC Peel Hunt
	Capel Irwin	020 7418 8900

ENDSTRUAUBRKORWURR