» Possible Offer for Carpathian plc

Possible Offer for Carpathian plc

Posted on: 22 April 2009

The board of New Europe Property Investments plc announces that the Company has approached the board of Carpathian with a potential offer to acquire the entire issued share capital of Carpathian at a price of EUR0.20 per Carpathian share in cash, subject to certain conditions (the "Proposed Offer").

Pursuant to Rule 2.4(c) of The City Code on Takeovers and Mergers ("the Takeover Code"), the Company reserves the right to make an offer for Carpathian at a lower pricewith the recommendation of the board of Carpathian. The Company also reserves the right to vary the form and/or mix of consideration of any offer that may be made.

This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.5 of the Takeover Code and, at this stage, there can be no certainty that an offer or any other transaction will occur.