Real Est.cred Regulatory News (RECI)

28 Sep 2007 17:29

Queen's Walk Investment Limited28 September 2007 Queen's Walk Investment Limited puts in place Close Period Share RepurchaseProgramme Queen's Walk Investment Limited (the "Company") announces today that the Companyhas entered into an irrevocable, non-discretionary arrangement with its brokers,Citigroup Global Markets Limited ("Citi") and Goldman Sachs International ("Goldman Sachs"), to repurchase on its behalf and within the parameters set outbelow, ordinary shares in the Company for cancellation during the close periodcommencing on 1 October 2007 and ending on or around 27 November 2007 theproposed date for the publication of the Company's 30 September 2007 interimresults (the "share buy back"): Pricing The maximum price to be paid shall be not more than 105% of the average of themiddle market prices paid for the Company's shares for the five business daysbefore the day on which purchase is made. Volume Goldman Sachs and Citi will not repurchase on each trading day more than 50% ofthe average daily trading volume of the Company's shares traded over the 20trading days preceding that date. The sole purpose of the share buy back is to reduce the capital of the Company. Goldman Sachs and Citi, as independent third parties, will make their tradingdecisions in relation to the Company's ordinary shares independently of, anduninfluenced by, the Company. The share buy back will be effected in accordance with Chapter 12 of the ListingRules and with the Company's current authority granted to repurchase up to 14.99per cent. of its issued share capital. For further information please contact: Investor Relations: Caroline Villiers +44 (0) 20 7153 1521 Citi: Andrew Forrester +44 (0) 20 7 986 8729 Goldman Sachs: Jim Wight +44 (0) 20 7774 9817 This information is provided by RNS The company news service from the London Stock Exchange