Business
Update on Property Portfolio
Update on Property Portfolio.
About this update from Creo Medical Group Plc
[{"type":"text","content":"\n China Real Estate Opportunities Ltd\n31 January 2008\n\n\nFOR IMMEDIATE RELEASE\n\n31 January 2008\n\n\n China Real Estate Opportunities Limited\n\n Update on property portfolio\n\n\nThe Board of Directors of China Real Estate Opportunities Limited (the\n\"Company\") is pleased to announce the results of recent independent valuations\ncarried out by CB Richard Ellis on properties comprised within the Company's\nportfolio. These valuations have been prepared in accordance with the \"RICS\nAppraisal and Valuation Standards, 5th Edition\" published by the Royal Institute\nof Chartered Surveyors in the United Kingdom. The valuations, which are as at 31\nDecember 2007, relate to all of the properties held by the Company other than\ntwo properties at Tangdao Bay, Qingdao which have only recently been acquired,\nas announced by the Company on 21 January 2008.\n\nTaken together, the valuations indicate an aggregate gross value for the subject\nproperties of RMB9.31 billion (£635.36 million at the exchange rate prevailing\non 31 December 2007). When the Company was launched in July 2007, based on\nvaluations as at 1 June 2007, the same properties were valued at RMB8.56 billion\n(£566.7 million at then prevailing exchange rates) in aggregate.\n\nThe Directors would draw attention to the fact that whilst the valuation of the\nCompany's properties is key to the value of the Company's net assets, numerous\nother factors will also be brought into account including (but not limited to)\nany provision which may be made for performance fees or for actual or contingent\ntax liabilities.\n\n\nEnquiries to:\n\nCREO\nTel: + 44 (0)1273 775 225\nRay Horney, Chairman\n\nLandsbanki Securities (UK) Limited\nTel: + 44 (0)20 7426 9000\nPaul Fincham\nJonathan Becher\nRobert Naylor\n\nBankside Consultants Ltd\nTel: + 44 (0)20 7367 8888\nSimon Rothschild\nOliver Winters\n\nMurray Consultants\nTel: + 353 1 498 0300\nEd Micheau\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n ","length":2063,"tagName":"div"}]