euro adhoc: Meinl European Land Ltd.
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Meinl European Land:
Strategic Review Update
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information
31.12.2007
Jersey, 31 December 2007. As announced earlier this year, Meinl
European Land Limited ("MEL", the "Company") is in the process of a
strategic review, the purpose of which is to identify and implement
improvements to the Company´s management, corporate governance and
reporting arrangements and processes, as well as a review of the
Company´s capital structure and financing. MEL hopes to complete the
implementation of measures based on the outcome of this strategic
review as soon as practicable during the first half of 2008.Following the announcement by the Company of the strategic review, certain proposals have been presented to the Company from a number of third parties. The board of directors of the Company is currently considering these proposals, which include changes in the company´s investment manager and management arrangements, including the possible internalisation of the company´s investment management function, changes to the Company´s other arrangements with Meinl Bank and its affiliates, changes to the Company´s board, certain corporate governance and reporting improvements and changes to the Company´s equity structure, including elimination of the Company´s partly paid shares.
A further announcement regarding the measures taken and proposed to be taken by the Company as a result of the strategic review will be made as soon as appropriate in 2008. These measures may involve a transaction with a third party. However, each of the third party proposals currently under consideration by MEL remains subject to further discussion and consideration. There can be no certainty that any such transaction will ultimately take place or, if it did, as to the terms and conditions of the transaction. Any transaction will, where required or appropriate, be subject to the approval of MEL´s certificate holders and shareholders and other customary conditions.
end of announcement euro adhoc
Further inquiry note:
Dr. Herbert Langsner
langsner@meinlbank.com
+43 676 840 531 250
Nadine Gilles
gilles@mel-cee.com
+43 676 840 531 202
Branche: Real Estate
ISIN: AT0000660659
WKN: 066065
Index: Prime.market
Börsen: Wiener Börse AG / official market