A preliminary reorganization plan is now made public and to be
presented on the creditors' meeting M

(Thomson Reuters ONE) - The administrator that has been appointed by the City court ofStockholm, has today presented the preliminary reorganization plan,in which he recommends that the reorganization may continue. The Citycourt will base their decision on whether to continue thereorganization or not on this plan. If the City court decides on acontinued reorganization, the details will be worked out promptly.In brief, the proposal gives the creditors a new secured bondcorresponding to a larger part of the claim, and the remaining partis to be converted into shareholding in the company. Preliminarily,an arrangement, followed by cash payment, will also be offered. Inorder to finance the arrangement and the operations, as well asgiving the current share holder the possibility to defend their sharein company, a rights issue of new shares will also be proposed.Attachment: Preliminary reorganization plan (in Swedish only)Russian Real Estate Investment Company AB (publ)For further informationCraig Anderson, CEOPhone +7 812 703 35 50e-mail craig(at)ruric.comABOUT RURICRuric's business concept is to acquire, develop, manage, lease outand divest real estate assets in St. Petersburg, Russia, offeringtop-quality commercial premises in the best locations, thuscontributing to the successful business performance of its tenants.The company's vision is to become a leading real estate company incentral St. Petersburg.The company's strategy is to identify high-potential real estate inthe city centre of St. Petersburg, structure appropriate deals andacquire at best price. After renovation top-notch commercial space isoffered to tenants seeking the best possible premises and that arewilling to pay for such premises.Ruric's Certified Advisor on First North is Erik PenserBankaktiebolaghttp://hugin.info/141656/R/1357773/330412.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Bereitgestellt von Benutzer: hugin
Datum: 27.11.2009 - 16:49 Uhr
Sprache: Deutsch
News-ID 8969
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