Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • Investegate.co.uk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com
  • FETransmission.com
  • Trustnet.hk
  • FEAnalytics.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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ING UK Real EstateIT (PCTN)

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Thursday 13 May, 2010

ING UK Real EstateIT

Offer Update

RNS Number : 8253L
ING UK Real Estate Income Trust Ltd
13 May 2010
 

ING UK Real Estate Income Trust Limited

13 May 2010

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO US PERSONS (AS SUCH TERM IS DEFINED UNDER REGULATION S OF THE US SECURITIES ACT OF 1933, AS AMENDED) OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

FOR IMMEDIATE RELEASE

 

Recommended Offer by IRET Securities Limited

(a wholly owned subsidiary of ING UK Real Estate Income Trust Limited)

for Rugby Estates Investment Trust plc

 

First closing date acceptance level and Offer declared unconditional as to acceptances

 

Summary

 

The Boards of ING UK Real Estate Income Trust Limited ("ING UK RET") and IRET Securities Limited ("IRET Securities") announce the level of acceptances for its Offer for Rugby Estates Investment Trust plc ("Rugby REIT") and further announce that the Offer is declared unconditional as to acceptances. The Offer, including each of the Share Offer, the ZDP Alternative and the Cash Alternative, will remain open for acceptances until 1.00 pm (London time) on 26 May 2010 unless extended.

 

First closing date of the Offer - levels of acceptances

 

·    As at 1.00pm (London time) on 12 May 2010, the first closing date of the Offer, valid acceptances had been received in respect of 56,840,288 ordinary shares of 1p each ("Shares") in Rugby REIT (including in respect of 4,782,065 Shares acquired during the Offer Period by ING UK RET), representing in total approximately 96.43 per cent. of the existing issued share capital of Rugby REIT.

 

·    These acceptances include acceptances in respect of a total of 26,195,454 Rugby REIT Shares, representing approximately 44.44 per cent. of the existing issued share capital of Rugby REIT in respect of which ING UK RET had secured irrevocable undertakings to accept the Offer prior to the launch of the Offer.

 

·    The following is a summary of the elections by Rugby REIT Shareholders as at 1.00pm (London time) on 12 May 2010:

 

Consideration election

Approximate percentage of Rugby REIT existing issued share capital

Number of Rugby REIT Shares

ING UK RET Ordinary Shares

18.85

11,110,897

ZDP Shares

39.52

23,294,635

Cash

38.06

22,434,756

 

·    Save as disclosed in this Announcement neither ING UK RET, IRET Securities nor any person acting in concert with ING UK RET or IRET Securities for the purposes of the Offer held any Rugby REIT shares (or rights over such shares) prior to 15 February 2010, the first day of the Offer Period, nor has any such person acquired or agreed to acquire any such shares (or rights over such shares) since the commencement of the Offer Period.

 

Acceptance Condition

 

·    The Offer is conditional upon, amongst other things, valid acceptances being received in respect of more than 90 per cent in nominal value of Rugby REIT Shares to which the offer relates, or such lesser percentage as IRET Securities may in its sole discretion decide, provided such percentage exceeds 50 per cent. of the voting rights then exercisable at a general meeting of Rugby REIT ("Acceptance Condition").

 

·    As at 12 May 2010, valid acceptances representing greater than 90 per cent. of the voting rights exercisable at a general meeting of Rugby REIT have been received. Accordingly the Acceptance Condition has been satisfied and the Offer has become unconditional as to acceptances.  

 

Compulsory Acquisition

 

·    As a result of IRET Securities receiving acceptances of the Offer in respect of more than 90 per cent. of the Shares to which the Offer relates, as soon as the Offer is declared unconditional in all respects IRET Securities intends to implement the procedures set out in sections 979 to 991 (inclusive) of the Companies Act 2006 to acquire compulsorily the remaining Rugby REIT Shares on the same terms as the Offer.

 

Extension of the Offer

 

·    The Offer will remain open for acceptance until 1.00 pm (London time) on 26 May 2010 unless extended.

 

·    The Boards of ING UK RET and IRET Securities have resolved that each the alternative forms of consideration set out in the Offer Document, which include the Share Offer, the ZDP Alternative and the Cash Alternative, will also be extended and will continue to be available to Rugby REIT Shareholders until 1.00 pm (London time) on 26 May 2010. Subject to the terms and conditions of the Offer, Rugby REIT Shareholders may also elect for a combination of the above options in respect of their holding of Rugby REIT Shares.

 

·    Shareholders who have not accepted the Offer are urged to do so without delay. Rugby REIT shareholders who hold their Shares in certificated form and want to accept the Offer should complete the Form of Acceptance and send this together with their share certificates to Computershare Investor Services PLC as set out in the Offer Document, so as to be received as soon as possible and, in any event, by no later than 1.00 pm (London time) on 26 May 2010. Rugby REIT shareholders who hold their Shares in uncertified form should ensure that an electronic acceptance is made through CREST so that the TTE Instruction settles no later than 1.00 pm (London time) on 26 May 2010, as set out in the Offer Document.

 

De-listing

 

·    Subject to any applicable requirements of the London Stock Exchange ("LSE"), ING UK RET intends to procure that Rugby REIT makes an application to cancel the trading of Rugby REIT shares and the listing of Rugby REIT shares on the LSE. Since it has attained over 90 per cent. of the voting rights of Rugby REIT, it intends to proceed to de-list as soon as the Offer is declared unconditional in all respects. De-listing would significantly reduce the liquidity and marketability of Rugby REIT Shares not assented to the Offer at that time and the value of any such Rugby REIT Shares may be affected as a consequence.

 

 

For further information:

 

ING Real Estate Investment Management                                                        Tel: 020 7767 5648

(Investment Manager)                

Michael Morris                                                                                                              

Helen Stott   

 

ING Corporate Finance                                                                                    Tel: 020 7767 1000

(Joint Financial Adviser to ING UK RET)

William Marle                                                                                                               

John Denby                                                      

 

J.P. Morgan Cazenove                                                                                    Tel: 020 7588 2828

(Joint Financial Adviser and Broker to ING UK RET)

William Simmonds

 

Northern Trust                                                                                                  Tel: 01481 745 529

(Company Secretary)

David Sauvarin

 

Financial Dynamics                                                                                         Tel: 020 7269 7144

(Financial PR)                                                                                                    / 020 7269 7261

Dido Laurimore

Laurence Jones

 

 

Terms defined in the Offer Document dated 21 April 2010 have the same meaning in this Announcement, unless the context requires otherwise.

 

The full terms of and conditions to the Offer are set out in the Offer Document and the Form of Acceptance.  In deciding whether or not to accept the Offer, Rugby REIT shareholders should rely solely on the information contained in, and follow the procedures set out in, the Offer Document and Form of Acceptance.

THE ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO SUBSCRIBE FOR OR BUY ANY SECURITIES NOR THE SOLICITATION OF ANY VOTE OR APPROVAL IN ANY JURISDICTION, NOR SHALL THERE BE ANY SALE, ISSUE OR TRANSFER OF THE SECURITIES REFERRED TO IN THE ANNOUNCEMENT IN ANY JURISDICTION, IN CONTRAVENTION OF ANY APPLICABLE LAW. THE OFFER WILL BE MADE SOLELY BY MEANS OF THE OFFER DOCUMENT AND THE FORM OF ACCEPTANCE ACCOMPANYING THE OFFER DOCUMENT.

If you are in any doubt about the Offer, the contents of this Announcement or what action you should take, you are recommended to seek your own personal financial advice immediately from your stockbroker, bank manager, solicitor, accountant or independent professional adviser duly authorised under the Financial Services and Markets Act 2000 if you are resident in the United Kingdom or, if not, from another appropriately authorised independent financial adviser.

 

END

 


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