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Orchid Developments Group Ltd RNS | 120217och6037x.htm

RNS Number : 6037X
Orchid Developments Group Ltd
17 February 2012
 

AIM: OCH

17 February 2012

Orchid Developments Group Ltd

("Orchid" or the "Company")

Update on preliminary approach from third party

Further to the announcement made on 14 February, Orchid, the specialist investor in the Bulgarian real estate and leisure market, confirms that the preliminary discussions with a third party did not lead to an indicative offer for the Company ("Offer") being made and that, therefore, the discussions regarding an Offer have now terminated. 

Contacts:

 

Orchid Developments

Guy Meyohas

 

+35 92 981 9955

Shore Capital and Corporate Limited              
Dru Danford / Bidhi Bhoma / Toby Gibbs

 

+44 20 7408 4090

MHP Communications

Reg Hoare / Tim McCall / Vicky Watkins

+44 20 3128 8100

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Orchid Developments Group Limited (Orchid) is a real estate developer, investment property owner and hotel operator in Bulgaria. The Company operates in three segments: development of office space and shopping malls (commercial property development); development and sale of apartment units (residential property development), and hotel. The hotel segment includes the development, renovation and operation of a hotel on the Black Sea coast. The development and letting out of premises for offices and shops is undertaken by the commercial property segment. The residential property segment develops and sells residential units. Orchid’s sub-sectors include Bulgarian real estate market, leisure markets and hotels with leisure facilities. As of December 31, 2011, the Company’s portfolio included Grand Mall, Orchid Hills Varna and Orchid Hills Sofia. more »

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