Real Estate Opportunities, majority owned by Irish firm Treasury Holdings, has announced that it will delist from the London Stock Exchange.
Trading in REO’s shares was temporarily suspended in January and the former Battersea Power Station developer this morning announced its 445,345,737 ordinary shares of no par value will be cancelled from the official list on 18 July 2012.
The firm said: “The board is of the opinion that it would be in the best interests of shareholders for the company to delist so as to provide cost savings, and to afford more timing flexibility in providing general and financial updates which will be of more substantial value to shareholders.”
REO also announced it would delay the release of its annual accounts as it awaits the outcome of the Irish High Court’s judicial review of Nama’s conduct towards it. Treasury Holdings is seeking compensation in relation to NAMA’s decision to appoint joint receivers to its assets.
The judicial review is expected to occur in July.
Daniel.cunningham@estatesgazette.com
