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About this update from Derwent London Plc
[{"type":"text","content":"\n Derwent London PLC\n26 June 2007\n\nDerwent London plc\n26 June 2007\n\n DERWENT LONDON PLC\n\n EGM RESULTS AND CONFIRMATION OF PROPOSED CONVERSION TO REAL ESTATE INVESTMENT\n TRUST STATUS\n\nDerwent London plc (the 'Company') announces that the resolution proposed at the\nextraordinary general meeting held earlier today to approve certain amendments\nto the Company's Articles of Association in connection with the conversion of\nthe Company and its subsidiaries (the 'Group') to Real Estate Investment Trust\n('REIT') status was passed by the Company's shareholders.\n\nAccordingly, the Company confirms that it will be taking the necessary steps for\nthe Group to convert to a REIT with effect from 1 July 2007. This conversion\nwill be effected by way of a notification letter to HM Revenue & Customs and\nwill result in the payment of a conversion charge of 2 per cent. of the value of\nthe Group's qualifying property assets.\n\nThe precise amount of the conversion charge will be calculated once the Group's\nindependent open market valuation as at 30 June 2007 has been completed, and\nwill be included in the announcement to shareholders to be made in September\n2007 in respect of the Group's interim results for the six months ended 30 June\n2007.\n\nADDITIONAL INFORMATION\n\nThe resolution was carried on a show of hands. The proxy figures for the\nresolutions will be shortly displayed on the Company's website,\nwww.derwentlondon.com.\n\nCopies of the resolution passed at the Company's EGM have been submitted to the\nUK Listing Authority and will shortly be available for inspection by the public\nduring normal business hours any weekday (public holidays excepted) at the UK\nListing Authority's Document Viewing Facility, which is situated at:\n\nThe Financial Services Authority\n25 The North Colonnade\nCanary Wharf\nLondon E14 5HS\n\nTel: +44 (0)20 7676 1000\n\nCONTACT\n\nJohn Burns\n+44 (0)20 7659 3000\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2317,"tagName":"div"}]