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Atrium European Real Estate Limited

euro adhoc: Atrium European Real Estate Limited
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CONDITIONAL TERMINATION OF DEPOSITARY AGREEMENT

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
Stock Activity
13.11.2008
Atrium European Real Estate Limited
32 Commercial Street, St. Helier, Jersey JE4 0QH, Channel Islands
Adhoc Notice
CONDITIONAL TERMINATION OF DEPOSITARY AGREEMENT
Atrium European Real Estate Limited ("Atrium") has instructed Meinl 
Bank AG to conditionally terminate the depositary agreement 
("Depositary Agreement") dated November 11, 2002 between 
Oesterreichische Kontrollbank AG ("OeKB"), Meinl Bank AG and Atrium 
with respect to the Austrian depositary certificates ("ADCs") issued 
by OeKB and listed on the Vienna Stock Exchange. As a result, Meinl 
Bank AG as custodian for the ordinary shares underlying the ADCs 
("Ordinary Shares") has given notice to the holders of the ADCs that 
the Depositary Agreement will be terminated with effect as of 
February 13, 2009, or such later date as the Ordinary Shares are 
admitted to listing and trading on the Vienna Stock Exchange, subject
to a long stop termination date of November 13, 2009.
Atrium initiated the conditional termination of the Depositary 
Agreement because there will be no need to retain the ADCs if the 
Ordinary Shares themselves are listed and traded. Atrium understands 
from the Vienna Stock Exchange that registered securities such as the
Ordinary Shares that underlie the ADCs may now be listed and traded 
on the Vienna Stock Exchange, as was previously not possible.
The conditional termination of the Depositary Agreement is 
preparatory to steps being taken with a view to an application by 
Atrium for listing and trading of the Ordinary Shares on the Vienna 
Stock Exchange and on another European stock exchange selected by 
Atrium. The conditional termination of the Depositary Agreement 
facilitates a dual listing of the Ordinary Shares and Atrium expects 
significant benefits for its securities holders as a result.
The listing process remains subject to the consent of the Jersey 
Financial Services Commission and satisfaction of certain other 
requirements. In the event that such application proceeds and such 
listing occurs, each holder of an ADC would receive interests in one 
Ordinary Share for each ADC held.
No action is required by holders of ADCs in relation to these 
arrangements at this stage. Further information will be published in 
due course.
Commenting Rachel Lavine, Chief Executive Officer of Atrium, said: 
"At the time that the strategic investment made by CPI/Gazit was 
approved, we promised that we would review the Company's listing 
requirements. This work is ongoing but giving notice to terminate the
existing depositary arrangements conditionally on listing the 
underlying shares is a part of the process and a significant step 
forward. We will make further statements in due course. No action is 
required on the part of our security holders at this stage."
Jersey, November 13, 2008
end of announcement                               euro adhoc

Further inquiry note:

Financial Dynamics, London
Richard Sunderland / Stephanie Highett / Laurence Jones
Phone: +44 (0)20 7831 3113
mailto:richard.sunderland@fd.com

Branche: Real Estate
ISIN: AT0000660659
WKN: 066065
Index: Standard Market Continous
Börsen: Wiener Börse AG / official market

Plus de actualités: Atrium European Real Estate Limited
Plus de actualités: Atrium European Real Estate Limited