NAT Nanette

 

TIDMNAT 
 
RNS Number : 8093X 
Nanette Real Estate Group N.V. 
21 August 2009 
 

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        | 
|  |                         |                      | 
+--+-------------------------+----------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 STRUAUBRKORWURR 
 

Nanette Real Estate N.V (LSE:NAT)
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