Clarification
(Thomson Reuters ONE) - In view of the rumours that flourish around Ruric and the publicoffer to the bond holders, there are the Company wishes to give thefollowing clarifications.The book value of Ruric's real estate properties amounted to SEK1,097 m as per 30 June, 2009 (1,330 m including the participations inFontanka 57 and the land plot in Strelna). The book value is based onvaluations made by external valuations that Ruric regularly obtainfrom independent surveyors, such as Knight Frank and ZinovieffChartered Surveyors. The external valuations are consistent with theBoard's assessment of the book value. During the third quarter thereare several signs of a slight improvement in the market conditions,which is also supported by additional valuation carried out duringthat period.The prospectus regarding the public offer to the bondholders,including terms and conditions, will, preliminarily, be announced on22 October. In order to give a full view of the development in theCompany in conjunction with the offer, the interim report per 30September will, as previously announced, be published in advance onthe 29 October."One of the main reasons for the suggested offer to the bond holdersis to be given time to secure and realise the potential that theBoard believes exist in the portfolio." says Nils Nilsson, Chairmanof the Board.Russian Real Estate Investment Company AB (publ)For additional informationNils Nilsson, Chairman of the Board of directorsPhone +41 22 534 95 42E-mail nils(at)ruric.comCraig Anderson, CEOPhone: +7 812 703 35 50 (St.Petersburg)Phone: +46 8 509 00 100(Stockholm)email: craig(at)ruric.comweb: www.ruric.comABOUT RURICRuric's business concept is to acquire, develop, manage, let anddivest real estate in St Petersburg, Russia, with a focus oncommercial premises of the highest quality in the best locations thatcan thereby contribute positively to the business of the tenants. Thecompany has the vision of becoming a leading real estate company incentral St Petersburg.The strategy is to identify real estate with great potential in thecentral parts of St Petersburg, create suitable acquisitionstructures and acquire at the best price. After renovations,commercial premises of the highest class are offered to tenants thatare looking for the best possible premises in the best locations andare willing to pay for it.Ruric's Certified Advisor at First North is Erik PenserBankaktiebolag.http://hugin.info/141656/R/1347678/324155.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 15.10.2009 - 13:16 Uhr
Sprache: Deutsch
News-ID 6959
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