Savills PLC
08 December 2005
FOR IMMEDIATE RELEASE
8 December 2005
OFFER FOR SHAREHOLDING IN FASTCROP PLC
(THE OWNER OF PRIMELOCATION)
The Directors of Savills plc ('Savills') note that it has been announced today
that Daily Mail and General Trust plc have made a recommended offer for Fastcrop
plc, a listed company in which Savills has a c14% shareholding through its
wholly owned subsidiary Savills (L&P) Limited.
The offer will be formally approved at an Extraordinary General Meeting of
Fastcrop plc ('Fastcrop') to be held on 11 January 2006. The offer values the
entire issued and to be issued share capital of Fastcrop at £48 million.
It is anticipated that Savills will receive proceeds on disposal of their
shareholding early in 2006 and if approved by Fastcrop's shareholders any
resultant profit on disposal will be recognised in the 2006 Financial year.
ENDS
For further information, please contact:
Savills plc (020 7409 9923)
Aubrey Adams
Citigate Dewe Rogerson (0207 638 9571)
Simon Rigby
Sarah Gestetner
Notes to editors:
Savills plc is a leading international property services company with a full
listing on the London Stock Exchange. The company has undergone dynamic growth
in recent years establishing itself as a powerful player on the international
stage with offices and associates throughout the UK, Europe, Asia Pacific and
Africa. In addition, Savills' strategic alliance with top US full service real
estate advisory company, Trammell Crow Company, in North America, means that
clients have access to a network of offices in the US and Canada. Savills is the
trading name for the property service subsidiaries of Savills plc which advise
on commercial, rural, residential and leisure properties. Other services
include corporate finance advice, fund management and a range of property
related financial services.
This information is provided by RNS
The company news service from the London Stock Exchange
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