Fund in the Ukrainian real estate Dragon Ukrainian Properties and Development Plc (DUPD, the Isle of man) recalls the intention of Dragon Capital Investments Limited (DCI) to delist its shares, provided the concentration of the company 75% of the securities.

If DCI will collect 75% of the votes for the merger before August 1, 2017, the company will seek to Fund DUPD has filed a statement of termination of circulation of its shares on the alternative market of the London stock exchange (AIM LSE), and may extend the date for proposals on the takeover until August 8, DUPD reported on the LSE.

As reported, the DCI, the Cyprus subsidiary of the investment group Dragon Capital Group, 29 may 2017 bought 687,2 million 11 thousand shares, or 10.69 percent of the Fund DUPD, increasing its stake to 35 million 794,789 thousand shares, or of 32.73% .

DCI 8 Jun 2017 year announced its intention to acquire all shares in DUPD from other shareholders of the Fund at a price of GBP0,13 for 1 item 27 June, the company increased the proposed purchase price by 15.4% to GBP0,15 for 1 piece, evaluating the existing share capital of the Fund is approximately GBP16. 4 million.

New offer at Dragon Capital, price per share DUPD was on 6.16% was on June 26, prices of one share of the Fund on the LSE, amounting to GBP0,1413.

Independent Director DUPD M. Ivashko A. Hayden in a statement on the LSE on 12 July 2017 has recommended to shareholders to refrain from sale of shares. In their opinion, the company has significant growth potential net asset value per share in the future, while the proposed DCI redemption price has a significant discount to net asset value per share and it does not contain a sufficient premium for control.

However, on 18 July, the DCI stated that by that date, its proposal was supported by the owners of the 29 million 067,044 thousand shares (26.58% of the securities) of the Fund, with the result that its share has reached the reference – 59,31%.

The offer was voluntary, while DCI will not enlist the support of 50% of the votes. Given that the DCI has focused 59,31%, its offer has become unconditional. At the same time, it remains open to 13:00 London time on August 1. Shareholders who did not support the proposal before the specified date will forfeit the right to monetary compensation.

According to the website of DUPD, the number of issued Fund shares is 109 million 361,515 thousand.

According to the LSE the stock DUPD 27 Jul to 17:55 kV remained unchanged at GBP0,1612 for PCs.

Fund DUPD founded in the end of February 2007. In its portfolio – the capital Obolon Residences (the area represented by the sale of the premises, excluding Parking lots – 45,593 sq. m.), cottage villages in the suburbs of Kiev, Riviera Villas (total land area of 14.3 hectares, the share of DUPD – 59.6%) and Green Hills (16.2 hectares, 100%), the proportion of developer Arricano 38 apartments in the cottage complex “Zadok the Cherry”, as well as a number of land plots in different regions of Ukraine.

DUPD in 2016 has reduced the net loss of 7.2% compared to 2015 – to $4,687 million, in 2015 – at 2.1% compared to 2014, to $33,968.