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Press releases and coverage of Real Estate Opportunities plc, its subsidiaries and joint venture companies.
16/07/10

Interim Management Statement

Real Estate Opportunities plc wishes to announce that all matters relating to the current Interim Management Statement have been included in the 28 February 2010 preliminary results announcement that was made on 23 June 2010.


23/06/10

Preliminary Results Announcement for the 14 months ended 28 February 2010

Please click here to view the Preliminary Results Announcement.


31/03/10

Real Estate Opportunities plc

Real Estate Opportunities plc (‘REO’ or the ‘Company’), the real estate investment and development group active in the UK and Ireland and listed in London, Dublin and The Channel Islands, today announces that, in line with all larger borrowers of property related loans from participating Irish banking institutions, it has received formal notification from the National Asset Management Agency (“NAMA”) in Ireland that it is now acquiring certain of these loans. These loans are from Allied Irish Bank, Anglo Irish Bank, Bank of Ireland, and Irish Nationwide and amount  to €896 million of a total of €1.49 billion of the Company’s outstanding bonds and loans.

 The Company’s obligations in relation to these loans will now be owed to NAMA, and not to the banking institutions.

Chairman of the Company, Ray Horney said; “We are pleased with the statement today from the Irish Minister for Finance regarding NAMA, which outlines definitive action to return strength and stability to the Irish banking sector and the consequent positive effects on the Irish economy. The actions will mark the end to a period of uncertainty within the Irish property sector, with the recapitalisation of the banks restoring credit and liquidity to the market. We are now engaging in discussions with NAMA, and look forward to continuing to work together as we seek to maximise the value of our high quality portfolio of assets.”


12/01/10

Rent Review Completion

Real Estate Opportunities plc (‘REO’ or the ‘Company’), the real estate investment and development group active in the UK and Ireland and listed in London, Dublin and The Channel Islands, today announces that it has successfully completed a rent review with REO’s largest tenant by rent, Vodafone (Central Park, County Dublin), at €7,200,000 per annum, or 12% above previous passing rent. The new rent is effective from October 2006. The Vodafone lease in Central Park is Ireland’s largest single let building at 263,000 square ft and expires in 2026.

Two other rent reviews were also recently completed in Central Park with tenant Tullow Oil plc, achieving an average increase of 12.8% on passing rent.

Ray Horney, Chairman of REO commented: “I am very pleased that this anticipated  rent review has been successfully completed at a significant premium to passing rent, which represents a strong result in this market environment and highlights how intensely REO is managing its investment portfolio and boosting rental income.”


25/11/09

Real Estate Opportunities plc

Ray Horney, Chairman of Real Estate Opportunities plc (the “Company”), is also non-executive chairman of Rayford Homes Limited. In accordance with Listing Rule 9.6.14, the Company announces that it has been notified that Rayford Homes Limited was placed into administrative receivership on 18 November 2009.


19/11/09

Real Estate Opportunities plc

Interim Management Statement

  • New London Planning Policy strongly supports Battersea Power Station Scheme
  • Occupancy remains at above 90%
  • Weighted average lease length now stands at 12 years
  • Strong asset management and prime quality of the portfolio support valuations
  • Debt renewals being managed; expectations are that the process of transferring loans to the National Asset Management Agency (“NAMA”) will begin in the near future

Real Estate Opportunities plc (‘REO’ or the ‘Company’), the real estate investment and development group active in the UK and Ireland and listed in London, Dublin and The Channel Islands, has issued the following trading update in relation to its performance for the 20 weeks to 18 November 2009.

Ray Horney, Chairman of REO, said: “In common with other property companies, REO has endured a very difficult economic climate over the past 18 months. However there is evidence that the investment market is turning while NAMA, when the bill which has been passed by both houses of the Irish Parliament is signed into law, which is considered to be imminent, will start to bring some stability to the Irish property market during 2010. We believe that REO is well placed to take advantage of the considerable opportunities created through its development portfolio. Last month a planning application was submitted for our scheme at Battersea and, once planning consent is obtained, we expect to conclude current discussions with potential financing partners to bring the scheme to fruition.”

REO investment portfolio: continued strong performance

REO has continued to place a strong emphasis on intensive asset management and its investment portfolio has continued to perform strongly in the period, underpinned by prime office and retail locations and high quality tenants.
Annualised rent roll was €47 million in the period. Portfolio occupancy remains at over 90% and only 3% of rent roll is in arrears, which has remained stable in the last six months. The Company continues to monitor its tenants closely and to date there has been no material indications of defaults. Top blue chip tenants such as Vodafone, Merrill Lynch, KPMG and Marks & Spencer account for over 63% of the portfolio by rent. In addition, rent weighted average lease length is approximately 12 years.

Development highlights: well timed development portfolio strategy adds value

REO has limited development completions due in the next two years but as previously highlighted, the Company is continuing to proceed with planning applications for a number of development projects in order to position the Company for medium term growth.

Progress on planning applications in the period include:
Battersea Power Station: The planning application has been registered with Wandsworth Council for the £5.5 billion mixed-use redevelopment of the 40 acre Battersea Power Station site. With 8.3 million sq ft of new floorspace, the application is the largest ever to be submitted in Central London. It proposes a wide mix of uses, including 3,700 homes, 1.6 million sq ft of office floorspace and 700,000 sq ft of retail and restaurant space. For more than a year the Power Station site has seen one of the most comprehensive public consultation programmes ever for a UK property development including two public exhibitions, attracting over 15,000 members of the public and extensive pre-application consultation with Wandsworth Council, CABE, English Heritage, the GLA and many others. The registration of the Power Station planning application coincided with the publication of the Mayor of London’s draft Planning, Economic and Transport Strategies to shape London’s future. The draft replacement London Plan now formally recognises the huge potential of the Vauxhall / Nine Elms Opportunity Area and the Power Station site to deliver significant housing and commercial development. In addition, the draft Transport Strategy recognises the potential of the Northern Line Extension to support regeneration of the Opportunity Area. The Mayor has also emphasised the importance of this new transport link by excluding developments in Nine Elms from the Crossrail levy, instead diverting funds towards the Northern Line Extension.

Ballymun Shopping Centre: In September, the Company secured full planning permission for the €800 million (£700 million) regeneration of Ballymun Town Centre in north Dublin and close to Dublin’s airport. At 2.7 million sq ft Spring Cross as the development will be known, represents the largest mixed use town centre permission that has ever been granted in Ireland. The scheme includes 360 apartments, 645,000 sq ft of retail, 370,736 sq ft of offices and 118,403 sq ft of other uses including a substantial leisure and civic amenities offer with cinemas, bowling alleys, a public library and restaurants. The Spring Cross scheme is the comprehensive regeneration of the existing town centre and therefore benefits from an established location and the Company is in advanced stages of negotiations with key anchor tenants. Ballymun, located close to the M50 Dublin Ring Road, has been transformed in recent years with many new homes and the recent opening of the Republic of Ireland’s first Ikea store, a short walk from Spring Cross. The project will also benefit from direct access to the confirmed Metro North route that will link the airport with Dublin city centre.

Financing

The NAMA legislation was passed by both Houses of the Oireachteas (Irish Parliament) on 12 November 2009 and the Bill has now been sent to the President of Ireland for review before signing into law.
Until NAMA becomes operational and loans have been transferred, bank finance continues to be limited. However, we are continuing to work closely with our existing lenders to renew debt facilities with non-NAMA banks where necessary.

It is now expected that a substantial portion of the REO bank loans will be transferred to the agency in the near future and NAMA will be managing those loans thereafter.

With regard to the bank loan on Battersea, we remain inside the LTV thresholds and the loan continues to perform. With regard to the breach of the parent company NAV covenants, we are working closely with the team at Lloyd's / BoS as they consider further information on the project and finalise up to date valuations. Due to the positive planning position and strong residual value of the site caused by the large increase in development density, we remain confident this issue will be resolved in the near future.

The property portfolio was last revalued on 30 June 2009 when the Group reported an average fall of 15% in the sterling value of its investment and development portfolios in the six months from 31 December 2008.

The Company today announces it will change its accounting year end date from 31st December to 28th February. This is to coincide with the establishment of NAMA and the expected transfer of a number of REO loans. This change in year end will enable the Company to present REO’s financial position more clearly to shareholders in due course. As a result, REO will publish its financial results for the 14 months to 28th February in June 2010 and the property portfolio will next be valued by an external valuer on 28 February 2010.

Outlook

The Company has endured a very difficult economic climate in the past 18 months, but the REO Directors believe that the UK investment market is beginning to show signs of recovery, while it is hoped that NAMA will start to bring stability to the Irish property market. Until NAMA is established and REO’s loans are transferred, significant progress in restructuring the Company’s Irish related debt is unlikely. However, the Board remains confident that the Company is well positioned for the future.


27/08/09

Interim Results for the six months ended 30 June 2009

Real Estate Opportunities plc (‘REO’ or the ‘Company’), a property company listed in London, Dublin and The Channel Islands with an established investment and development property portfolio in Ireland and the UK, today announces its interim results for the six months ended 30 June 2009.

Chairman’s statement

Introduction
This has been an extremely difficult period for the Company. As previously highlighted, conditions in the world economy and capital markets in the past 18 months have created a very challenging operating environment for property companies such as REO. In addition, Ireland, where REO has extensive exposure, is facing the biggest contraction of any developed economy (a 13.5% fall in GDP in 2008-2010 according to the latest report from the IMF(1)) as well as severe instability in its banking sector. This combination of economic contraction and scarce credit has created an unprecedented situation in the property market leading to almost complete absence of transactions in the market in the last six months. Whilst the UK property market is undoubtedly experiencing similar problems, we believe that the Irish property market has been particularly impacted, as the market awaits the proposed creation of a National Asset Management Agency (“NAMA”) to acquire property loans from Irish lenders.

The Company welcomes the proposal for NAMA - the independent asset management agency - and its objective of maximising the value of the assets under its control over a longer term time horizon. The Company also welcomes the initiative’s objective of ensuring stability in the Irish commercial property market and the banking sector. In addition, it is expected that NAMA will have access to longer term funding than the current Irish lenders and that the injection of new liquidity to the Irish banking sector will enable the Irish economy to stabilise and in due course return to growth.

The draft NAMA legislation is expected to be passed in the autumn of 2009 and it is expected that the agency will be fully operational by the end of this year. While the process of establishing NAMA continues and uncertainty remains for both lenders and investors as details on the valuation at which the loans will transfer to NAMA have not yet been determined, the Irish property market has come to a standstill with virtually no transactional activity and a lack of clarity on values. In the first half of the year, transactions totalling €42 million have been completed. This compares with just under €500 million for the 12 months of 2008 and €1.9 billion in 2007 (2)(4). As the market in Ireland for investment and development properties is inactive, the Directors have appointed the Investment Adviser to conduct the 30 June 2009 valuations of the REO property portfolio. I refer you to the Investment Adviser’s report, which details the valuation methodology further. The portfolio will be valued by external valuers as at 31 December 2009.

The total property portfolio value was £1,622 million (31 December 2008: £1,910 million), representing a reported decrease since year end of 15%. This reported decrease in the portfolio valuation is due to a revaluation downwards after capitalised costs of 9% on average across the portfolio since 31 December 2008, which was further impacted from the foreign exchange movement as the euro weakened against sterling in the six months to 30 June 2009. REO’s UK portfolio, which includes Battersea Power Station, saw a revaluation decline of 15%, whilst the Ireland investment and development portfolio values declined on average by 9% in the past six months.

This has resulted in a Diluted European Public Real Estate net asset value per share (“EPRA NAV per share”) of 30.9p, representing a fall of 70% from the 104.1p recorded at 31 December 2008.

Business Activity
Although we continue to be extremely cautious about the outlook for the overall property market in Ireland and the UK, the Company maintains its long-term perspective and its principal objective of outperforming the market through this current cycle.

The investment portfolio continues to perform well, especially in light of current market conditions. Average portfolio occupancy remains high at over 90%, while the average lease length is 12 years. Given the market environment, this performance is impressive and the Board is pleased with the intense asset management as a key facet of the Company’s strategy in driving cash flow, particularly in these difficult times.

With regard to the development portfolio and as previously highlighted, the Company has taken a prudent approach to timing of its development pipeline and we started this year with a much lower level of development completions due in the next two years than previously was the case while there is also appropriate flexibility on start dates. The Company continues to pursue appropriate planning permissions as well as working towards submitting planning applications in due course for various projects to position the Company for the longer term when the market stabilises and funding becomes more available. I am most pleased to report on the planning permission application for our landmark Battersea Power Station, which was submitted in July 2009. I refer you to the Investment Adviser’s report for further detail on progress on both the investment and development portfolio during the period.

Financing
All REO loans are in compliance with agreed covenants, with the exception of one bank facility of £226 million with Bank of Scotland and Bank of Ireland, where a waiver had not been received as at the reporting date. We remain confident that this waiver will be received in due course. For the purposes of our interim financial report, this loan is classified as due within one year.

As highlighted above, NAMA is expected to be fully operational by the end of the year but until then, bank finance continues to be very limited. We are continuing to work closely with our existing lending banks to renew debt facilities where necessary. The banks are responding positively to our proactive approach and have been willing to facilitate us in this regard. Extensions of facilities have been achieved albeit generally for quite short periods. Bank loans amounting to £556 million and £201 million are due for repayment by the end of 2009 and
2010 respectively. The Board’s continued priority is to safeguard the Company’s financial position and while we are concerned about the impact of this short term uncertainty on the Company’s performance, your Board and the Investment Adviser are ensuring that we continue to maintain our strong relationships with our lenders until the longer term solution in the form of NAMA regarding land and development bank loans is resolved. We continue to monitor covenant reporting requirements and as such are able to discuss any possible breaches with our lenders in advance of covenant breaches materialising. To that end, we remain confident that in the event there are breaches in the Group’s banking covenants, we can renegotiate covenants or receive waivers with our banks if required.

Once the agency is operational and liabilities are transferred to the agency in due course, NAMA will be able to buy and sell assets, manage the loans and use powers to recover debts. We remain confident that, as with our existing lenders, NAMA will also be supportive of the REO portfolio, due to the quality and location of the Group’s development sites. The Company is also actively progressing its development proposals across all sites, including applications for planning permission where appropriate, to reinforce asset values and mitigate the impacts of the general decline in property values. This will strengthen our ability to satisfy future loan to value covenants within our loan facilities, which will enable the Group to take advantage of development opportunities when a favourable market returns.

However, until the agency is operational, the short term outlook for the Company is one of caution as uncertainty regarding its debt position remains.

Going Concern
At 30 June 2009 the Group had total borrowings of £1,621 million. At that date, the Group had cash, cash equivalents and restricted cash of £61 million and a deficit on consolidated shareholders equity of £88 million.
The Group has an investment and development property portfolio valued at £1,622 million.
The Company has prepared a financial plan for the period to 31 December 2010. A number of key assumptions have been made in preparing this plan, including: bank facilities that are due in 2009 and 2010 amounting to£556 million and £201 million respectively will be rolled over and renewed on broadly similar terms; if there are further declines in values which may result in breaches of loan facility covenants, it is assumed that the existing facilities will remain in place and be renewed, as is consistent with recent experience; and the Group will realise£35 million to £40 million in cash following the completion of one of a number of corporate transactions that are currently being explored. Based on these assumptions, the Board believes that there is adequate cash and cash equivalents to meet its working capital requirements until November 2010.

Board Changes
During the period, Guy Leech, Group Finance Director of Treasury Holdings resigned from the REO Board to pursue other business opportunities and we wish him well and thank him for his important contribution to the Company for the past few years. The Board is pleased to welcome Robert Tincknell, who was appointed in June, to the REO Board. Robert is currently Managing Director of Treasury Holdings UK Limited. He has worked extensively in the UK property investment and development market spanning a period of 20 years. Robert worked previously as Managing Director of the Commercial Division at The Berkeley Group plc.

Outlook
The fallout from the global economic downturn and Ireland’s own difficulties in both the economy and banking sector continue to impact the performance of the business severely, as evidenced in this set of results.
Uncertainty regarding the prospects for the Irish economy and property market, in particular, remains. Although encouraging progress has been made by the Irish government in taking swift actions to restore some stability to both the country’s public finances and the banking sector, including the creation of NAMA, much work remains if the Government is to meet its target of returning to growth in 2011. In the meantime, it can be expected that property investors and tenants will continue to experience significant challenges. Although the underlying REO business continues to perform relatively well in a difficult market and the Company maintains its long term perspective, we await the final outcome of NAMA and its implications for the Company in the coming months, as until the Company reaches some certainty around future banking arrangements and its financial position, the Board retains its cautious outlook for the rest of this financial year.

2009 Interim Report and Accounts for six months to 30th June 2009


18/08/09

Board Changes

Further to the announcement made on 29 June 2009, Real Estate Opportunities plc (‘”REO” or the “Company”) announces that following completion of their enquiries, the Jersey regulator has confirmed that they have no objection to the appointment of Mr Tincknell as a director of the Company.


29/06/09

Board Changes

Real Estate Opportunities plc (“REO” or the ‘'Company'’),  a property company listed in London, Dublin and The Channel Islands with an established investment and development property portfolio in Ireland and internationally, announces that Guy Leech, Group Finance Director of Treasury Holdings, has resigned from the REO Board with effect from 26th June 2009 to pursue other business opportunities.

Peter Byers has been appointed to fulfill the role of Group Finance Director of Treasury Holdings and will be responsible for overseeing the financing of Treasury Holdings’ investment and development property portfolio. Peter was previously Group Finance Director of Heiton Group plc. Treasury Holdings is investment adviser to the Company in relation to its Irish property portfolio and to REO’s global property assets.

The Company also announces the appointment of Robert Tincknell to the Board, subject to consent from the Jersey Regulator, as is the case with all appointments to the board of the Company. Robert is currently Managing Director of Treasury Holdings UK Limited. He has worked extensively in the UK property investment and development market spanning a period of 20 years. Robert worked previously as Managing Director of the Commercial Division at The Berkeley Group plc.

Commenting on the changes, Ray Horney, REO Chairman, said: “We thank Guy for his contribution over the past number of years and wish him well in the future.  Robert brings to the Board considerable experience in the area of property development.”

Save as disclosed above, there are no further details required to be disclosed in respect of Mr Ticnknell’s appointment pursuant to 9.6.13 of the Listing Rules.


09/06/09

Voting results from the Annual General Meeting held on the 09.06.09

Votes in favour

Votes in favour

Votes against

Votes at the Chairman's discretion

Votes witheld

Resolution one

138,675,399 

333,893 

0

681,846 

Resolution two

139,686,138

5,000

0

0

Resolution three

139,686,138

5,000

0

0

Resolution four

138,992,399

333,893

0

364,846

Resolution five

139,686,138

5,000

0

0

Resolution six

139,691,138

0

0

0

Resolution seven

127,326,968

10,497,207

0

1,866,963


09/06/09
Result of Annual General Meeting and Name Change

The Board of Real Estate Opportunities Limited announces that all resolutions put to shareholders at the Annual General Meeting were passed.

Resolution number 6, related to the name change of the Company. Following the approval by shareholders of this resolution, the Company’s name shall change, with effect from today, to Real Estate Opportunities plc.


04/06/09
Issue of Shares 

The board announces that on 3 June 2009 they approved the conversion of 11,100 Convertible Unsecured Loan Stock into 11,100 Ordinary Shares. The total number of Ordinary shares in issue now stands at 333,803,916.


19/05/09

Interim Management Statement

Real Estate Opportunities (‘REO’ or the ‘Company’), a property company listed in London, Dublin and The Channel Islands with an established investment and development property portfolio in Ireland and the UK, has issued the following trading update in relation to its performance for the 20 weeks to 19 May 2009.

Chairman Ray Horney commented:

"Although market conditions remain extremely difficult with the poor economic outlook and weakness in property markets, the REO business continues to perform well due to our high quality investment portfolio, which is focused on prime office and retail assets in Ireland with a broad tenant base. The portfolio continues to maintain high occupancy, in excess of 95%, and generate a robust income stream.  Our impressive development portfolio is prudently timed, positioning REO to continue to outperform the market through this cycle.”

REO investment portfolio: continued strong performance

REO’s income producing investment portfolio represented 50% of its total portfolio by value at 31 December 2008.

Although the Irish market is experiencing a sharp slowdown following years of strong growth and high demand, the REO investment portfolio continues to perform well owing to its prime office and retail locations and broad tenant base. Portfolio occupancy has remained at over 95 per cent and rental weighted average lease length is 12 years. If economic conditions continue to deteriorate, the Company expects average occupancy rates to fall for the portfolio but the Company has been actively monitoring tenant progress and currently there are no indications of material tenant defaults, with 2.5% of the rent roll in arrears. Particular attention is being paid to rent collections in the knowledge that some small retail tenants may be experiencing trading difficulties due to the downturn and the Company is working closely with them as a result.

Since 1 January 2009, the Company settled 4 rent reviews achieving an average increase of over 7 per cent compared with previous rents and an average of 4 per cent above the Estimated Rental Values previously assumed by the Company’s valuers.

The property portfolio was last revalued on 31 December 2008 when the Group reported a year-on-year decrease of 16% after capitalised costs across its investment and development portfolios. The property portfolio will next be valued by an external valuer on 30 June 2009.

Development highlights: well timed development portfolio strategy adds value
REO’s strategic objective is to position the business to benefit when markets begin to stabilise. The focus of the business is therefore centred on the delivery of development projects after 2011.

Little development is due for completion in the next 18 months and there is appropriate flexibility on start dates. As previously highlighted, the Company is actively pursuing appropriate planning permissions as well as working towards submitting planning applications in due course for various projects to position the Company for medium term growth.

During the period, planning permission was granted to substantially enhance the existing prime investment asset Baggot Buildings, located in Dublin’s city centre from 5 storeys to 8 and increasing the area from 8,200 square metres of office space to over 18,000 square metres of office and retail space. Construction is expected to commence in 2014 and complete in 2016.  This asset is currently leased to an Irish government agency.

In addition, the Company secured planning permission for an additional office building (13,700 square metres) within its Central Park development, one of REO’s most established suburban developments, currently tenanted by companies including Vodafone, Merrill Lynch, First Active and Vivas Healthcare. Central Park, which is strategically located beside the M50 between Sandyford and Leopardstown, offers a convenient out of town suburban location with excellent public transport links including easy access to the N11 and the Luas Green line.  Central Park’s own Luas stop is due to be operational in the summer of 2010. Construction of Number 1, Central Park (described below) is already well underway.
As previously highlighted, there are only two developments currently under construction.  Number 1, Central Park, Dublin 18, a 17,650 square metre office development, is expected to be completed later this year (excluding fit out until a pre-letting is secured). Montevetro, on Barrow Street, Dublin 4 (19,500 square metres) is expected to be completed in late 2010. The Montevetro office development is 50 per cent pre-funded while letting campaigns on both developments have generated some indications of potential occupier interest.

Good progress continues to be made on REO’s principal UK development, Battersea Power Station.  A formal planning application is expected to be submitted in the current year with the design of the master plan, consultation with key stakeholders and preparation of the application documents all progressing positively.

Further, the Nine Elms area of London, for which Battersea Power Station is the anchor site, is beginning to receive the attention it warrants as the last major prime development opportunity in central London.  The draft Opportunity Area Planning Framework for the area being prepared by the Greater London Authority is due to be published in the middle of the year setting out the vision and development framework.  Strong support for the area is also coming from an outline planning submission that has already been made for the new U.S. Embassy for London on a 5 acre site at the heart of the Nine Elms.  

Financing
As outlined in the REO preliminary results for the year ended 31 December 2008, the Company had loans amounting to £441 million maturing in 2009. The majority of loans are due towards the end of the year but the Company had already successfully obtained lenders’ credit committee approval for renewal of over 30% of these loans by March 2009.

Since the issue of the preliminary results, the Irish Government published its supplementary Budget in April 2009 in an effort to return stability to the public finances and to propose initiatives to deal with the stresses in the Irish banking sector. The Government outlined its initial proposal for the creation of a National Asset Management Agency (“NAMA”) to acquire property loans from Irish lenders while also confirming its intention to extend the deposit and liability guarantee scheme to include further issuance of debt securities with a maturity of up to 5 years.

Full details of how NAMA will operate in practice have not yet been announced and legislation is currently being drafted which is expected to be passed by the end of the summer. NAMA will be set up under the auspices of the NTMA (National Treasury Management Agency), the well respected government body which manages Ireland’s public sector assets and liabilities. The outline proposal for NAMA states that all land and development loans of each eligible lender will be sold to NAMA and, in addition, that the largest property backed exposures of all the lenders in the Government guarantee scheme will be transferred into the agency. The Irish Government estimates that loans with a current book value of €80 billion to €90 billion could potentially be sold to NAMA at “an appropriate discount”, with the overall objective of “cleansing” the Irish banking system and allowing it to resume normal lending practices. Payment for the loans sold to NAMA will be in Irish Government bonds and it is expected that the lenders will be able to discount these bonds with the European Central Bank, injecting significant new liquidity into the Irish banking system. NAMA’s objective will be to maximise value to the State over a period of 10 to 15 years and to reduce the risk of the Irish market being flooded with distressed assets for sale in a short period.

Until the legislation is published, it is too early to comment in detail on the implications of the creation of NAMA for REO. Based on what has been announced to date, the Company welcomes the proposal for an independent asset management agency and its objective of maximising the value of the assets under its control over a longer term time horizon. The Company also welcomes the initiative’s objective of ensuring stability in the Irish commercial property market and the banking sector. In addition, it is expected that NAMA will have access to longer term funding than the current Irish lenders and that the injection of new liquidity to the Irish banking sector will enable Irish output to stabilise and in due course return to growth. However, until the NAMA legislation is enacted and the agency is operational, bank finance is likely to be constrained.

In parallel with the announcement of the creation of NAMA, the two largest Irish banks, Bank of Ireland and Allied Irish Bank (“AIB”), have each received €3.5 billion of new capital from the Irish Government, in March and May respectively. AIB has also announced that it aims to raise a further €1.5 billion by the end of 2009, through the sale of assets and other actions.

Until there is further clarity on NAMA, the Board’s priority is to continue to safeguard the Company’s financial position in the current market environment. The Company continues to maintain its strong relationships with its banks and remains confident about its ability to renew debt due this year. REO continues to operate within all its LTV (loan to value) loan covenants and the Company remains confident about its ability to renegotiate the terms of its loans with its banks if required.

Irish Property Market
The Irish commercial property market saw an easing in the downward trend in valuations in the first quarter of 2009, with capital values falling 10.9% quarter on quarter (compared to a record drop of 17.7% quarter on quarter in the fourth quarter of 2008), while rental levels fell overall for the first time from a flat performance quarter on quarter in the last quarter of 2008 to a drop of 3.2% quarter on quarter in the first quarter of 2009. On a peak-to-trough basis the retail sector has experienced the largest declines of 46.5% since the market’s December 2007 peak, as rising insolvencies and tenant defaults exert downward pressure on pricing and rents. Capital values overall in the Irish commercial property market have now fallen 44% from the peak, with 37% of the value shift taking place in 2008. (Source: SCS IPD Q1 2009)

Office Market: As highlighted previously, take-up in the Dublin office sector declined significantly in the latter part of 2008 and this trend has continued in the first quarter of 2009 as take up was approximately 10,000 square metres in the Dublin office market, representing a quarter on quarter decline of 69% and a year on year fall of 77%, highlighting continued weakness in the economy and poor demand as expansion plans are put on hold. Meanwhile, the quantum of newly built space, release of second hand stock and persistent uncertainty in the market has pushed city centre vacancy up to 15%. However, new Dublin office supply in the next two years will be very modest as output has been reduced significantly in the last 12 months. Prime headline office rents have come under pressure since the beginning of the year and this is expected to continue in the short to medium term as demand remains low. (Source: CBRE)

Retail Market: Retail sales volumes continued to weaken in the period with latest published data highlighting that volumes were down 21% year on year in February. Poor car sales have exaggerated the fall in aggregate sales volumes figures and excluding these, core sales spending volumes were down 8% in February.  However since February, the macro economic backdrop has deteriorated further and as unemployment rises, continued weakness in retail spending is expected in the months ahead. As a result, the retail property market has been impacted adversely by these difficult trading conditions and as some retailers have been forced into administration, vacancy has increased while retail rental values decline and rental concessions are featuring more in the market. Although there has been notable decline in demand, some demand still exists from international retailers, including discount retailers but continues to be very location specific. (Source: CSO, Goodbody Stockbrokers, CBRE)

Despite the continuing difficulties in the current market environment, REO continues to perform well and the Company maintains its long term perspective. The investment portfolio continues to be well tenanted and is managed carefully while the development projects are prudently timed to weather the current market conditions and to move forward once conditions improve.


24/04/09

Annual Information Update

This annual information updated is required by, and is being made pursuant to, Article 10 of the Prospectus Directive as implemented in the United Kingdom (Prospectus Rule 5.2) and not for any other purpose and neither the Company, nor any other person, takes any responsibility for, or makes any representation, express or implied, as to the accuracy or completeness of, the information which it contains. This information is not necessarily up to date as at the date of this annual information update and the Company does not undertake any obligation to update any such information in the future.

1. Regulatory Information Service (‘RIS’) announcements

2008

Release Date

Announcement Title

15.04.08

Annual Information Update

19.05.08

Interim Management Statement

03.06.08

Issue of shares

11.06.08

Result of Annual General Meeting and final dividend

13.06.08

Issue of shares

 

 

20.06.08

Launch of Masterplan for Battersea Power Station

14.07.08

Adoption of International Financial Reporting Standards (IFRS)

 

 

29.08.08

Interim Management Report For The Six Months To 30 June 2008

18.09.08

Sale of Property

07.10.08

Appointment of Joint Broker

24.10.08

Appointment of Broker

03.11.08

Extension of Credit Facilities

11.11.08

Holdings in Company

17.11.08

Interim Management Statement

09.12.08

Appointment of Joint Broker

2009

22.01.09

Director/PDMR Shareholding

26.03.09

Final results of for the year to 31 December 2008


All of the information listed above is available for viewing on the London Stock Exchange RNS website.



26/03/09

Preliminary Results Announcement for the year ended 31st December 2008

Please click here to view the Preliminary Results Announcement.


22/01/09

Real Estate Opportunities Limited

Real Estate Opportunities Limited (the "Company") (LSE:REO) announces that in accordance with the FSA announcement on 9 January 2009 relating to DTR 3.1.2, the following persons have granted security over shares and convertible unsecured loan stock (“CULS”) in the Company.

Ray Horney, the Chairman, has pledged 8,151,166 shares and 4,662,970 CULS as part collateral for loans entered into on 6 July 2007 and 18 January 2008.

Treasury Holdings, which is owned as to 50 per cent. by Richard Barrett, a director of the Company, and is therefore a connected person of Richard Barrett, has pledged 94,554,956 shares and 13,553,790 CULS as collateral for loans entered into on 26 July 2005 and 23 December 2008.


09/12/08

Appointment of Joint Broker

Real Estate Opportunities Limited (the “Company”) is pleased to announce that Matrix Corporate Capital LLP has been appointed as joint broker to the Company with Goodbody Stockbrokers.


17/11/08

Interim Management Statement

Real Estate Opportunities (‘REO’ or the ‘Company’), a property company listed in London, Dublin and The Channel Islands with an established investment and development property portfolio in Ireland and the UK, has issued the following trading update in relation to its performance for the 20 weeks to 17 November 2008

“In light of the current difficult economic climate, the REO Directors are satisfied with the Company’s performance in the period.  The Board remains confident that REO is well positioned in this current market environment through intensive asset management of its resilient income producing portfolio and its well timed long-term development pipeline. Although we remain cautious about the outlook for the overall property market in Ireland and the UK in the coming months, REO will maintain this focus to support its objective of outperforming the market through the current  property cycle and beyond”, commented
Ray Horney, REO Chairman.

Financing

  • Since 30 June 2008, the Company has secured an increase of £40 million in the existing £185 million Battersea Power Station debt facility and the extension of the term of this facility from December 2009 to March 2011. The additional funds will be used to finance the costs of the Battersea Power Station planning application which is due to be lodged in 2009.
  • The Company has secured an increase of €50 million in an existing loan facility which is secured against REO’s income producing investment portfolio in Ireland and matures in 2013 (unchanged).
  • During the period, REO completed the sale of its interest in Northside Shopping Centre, Dublin for €29.75 million, representing a 60% uplift over the property's valuation in the June 2008 accounts.
  • The Company maintains close relationships with its main lending banks and continues to refinance shorter term debt in advance of its maturity, as evidenced by the Battersea facility extension referred to above.
  • The property portfolio was last revalued on 30 June 2008 when the Group reported a year-on-year increase of 4% in the sterling value of its investment and development portfolios. The property portfolio will next be valued by an external valuer on 31 December 2008.

REO investment portfolio: continued strong performance

  • REO’s income producing portfolio represents over 53% of its total portfolio by value.
  • REO has continued to place a strong emphasis on intensive asset management and its investment portfolio has continued to perform strongly in the period, underpinned by prime office and retail locations and high quality tenants.
  • Portfolio occupancy remains at over 95%.
  • Rent weighted average lease length is approximately 15 years.
  • There are a number of investment properties in the Company’s portfolio which provide rental income while also having refurbishment and redevelopment potential, enabling significant value enhancement in the future. Examples of these include Baggot Buildings and Stillorgan Shopping Centre in Dublin.

Development highlights: well timed development portfolio strategy adds value

  • REO has limited development completions in the next two years but it is continuing to proceed with planning applications for a number of development projects in order to position the Company for medium term growth.
  • Progress on planning applications in the period include:
  • Ballymun Shopping Centre: In October, the Company lodged a planning application to develop ‘Ballymun Town Centre’, an €800 million mixed use development in the heart of the Ballymun regeneration area in North Dublin.   The proposed new town centre is on a 5.9 hectare site with a projected population of 40,000 people. The development is strategically located in the heart of North Dublin and has easy access to the airport, Dublin City Centre and the M50, M1 and M2 motorways. It is at the heart of the economic corridor between Dublin Airport and Dublin City Centre, while a Metro stop on the planned Metro North line will also be integrated into the development.  In addition, the town centre will only be a short distance from the only IKEA store in the Republic of Ireland which is expected to open in 2009. The proposed development will comprise over 60,000 square metres of retail space, 27,883 square metres of office space and over 11,000 square metres of leisure facilities.
  • Clonburris, Clondalkin: Following designation as a Strategic Development Zone, the masterplan for this area was given approval by An Bord Pleanala in November 2008.  REO has assembled a design team with a view to lodging a full planning application of 237,000 square metres for the development of a major town centre facility on the Company’s 37 acre site and this process is now underway.
  • Good progress continues on the two office development projects which are currently under construction: Number 1, Central Park, Dublin 18 (17,650 square metres) and Montevetro, Barrow Street, Dublin 4 (19,500 square metres) which are expected to complete by late 2009 and late 2010 respectively. Marketing campaigns on both developments have recently been launched. The Montevetro development is 50% pre-sold.
  • The Company has negligible development exposure to the Irish residential sector in the short term. Its development pipeline, which includes residential in a number of mixed use schemes, will see delivery of it in approximately 3 to 7 years time, which we believe to be the period when residential demand growth will have returned to the market.

 

Battersea Power Station:
Following the public launch of the development masterplan for Battersea Power Station in June 2008, plans are progressing well as consultation continues with officers and members including the Leader of the London Borough of Wandsworth, statutory consultees of the Greater London Authority, the Mayor of London, English Heritage, the Commission for Architecture and the Built Environment and the Government Office for London. Feedback is being incorporated into an enhanced scheme design.  The scheme has also been presented to a substantial number of members of the public with over 15,000 visitors to the public exhibition at the site, over two thirds of whom were supportive of the scheme. The additional debt facilities that have been recently secured will be used to finance the costs of the planning application which is due to be lodged in 2009.

Irish Property Market
Office: Take-up in the Dublin office market in Q3 2008 was resilient as 58,500 square metres of lettings were signed in the quarter. However, a substantial proportion of these were pre-letting agreements and occupier demand continues to weaken. While some office occupiers have put expansion and re-location plans on hold, new Dublin office supply in the next two years will be very modest as output has been reduced significantly in the last 12 months, helping the market move towards equilibrium. (Source: CBRE)

Retail: Retail sales volumes continued to weaken in the period and latest published data reported a decline of 5.5% in the year to August 2008. Sales in retail sectors have been mixed and those sectors linked to housing have been most adversely affected and indicative of the falloff in residential construction. Lower consumer spending is affecting some parts of the retail property market and some expansion plans have been put on hold. Despite this, there has been limited pressure on rental values to date but lease incentives and inducements are becoming more common. In addition, demand, particularly from international retailers, remains but is very location specific. (Source: CSO, CBRE)

Residential:
The Irish residential market remains stagnant in terms of activity as supply overhang remains and demand is weak. House completions in the nine months to September 2008 were 39,986, 29% less than in the same period in 2007, with full year 2008 market forecasts of 47,500 and between 25,000 and 35,000 in 2009. This lower output may go some way to eroding the existing supply overhang. House prices have been falling in Ireland now for 19 months, longer than in many other countries, and this, combined with falls in interest rates, means that Irish housing is now significantly more affordable than it has been for some years and in 2009 is expected to drop to 1997 affordability levels. (Source: AIB Economic Research).


11/11/08

TR-1: Notifications of Major Interests in Shares


1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Real Estate Opportunities Limited


 2. Reason for notification   (yes/no)

An acquisition or disposal of voting rights

 Yes

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

 

An event changing the breakdown of voting rights

 

Other (please specify):______________

 


3. Full name of person(s) subject to notification obligation:

Societe Generale Option Europe

 4. Full name of shareholder(s) (if different from 3):

 

 5. Date of transaction (and date on which the threshold is crossed or reached if different):

 4 November 2008

 6. Date on which issuer notified:

 6 November 2008

 7. Threshold(s) that is/are crossed or reached:

 8 per cent


8: Notified Details

A: Voting rights attached to shares

Class/type of shares
If possible use ISIN code

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Number of shares

Number of voting rights

Percentage of voting rights

 

Direct

 

Indirect

 

Direct

 

Indirect

ORD
GB0030364995

26,866,567

26,866,567

26,366,657

26,366,657

0

7.90

0


B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

 

 

 

 

 


Total (A+B)

Number of voting rights

Percentage of voting rights

 26,366,657

 7.90


9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

 n/a


Proxy Voting:

10. Name of proxy holder:

 

11. Number of voting rights proxy holder will cease to hold:

 

12. Date on which proxy holder will cease to hold voting rights:

 


13. Additional information:

 

14 Contact name:

Patrick Overmeer

15. Contact telephone number:

020-7676-6885



03/11/08

Extension of Credit Facilities

Real Estate Opportunities Limited (‘REO’ or the ‘Company’) is pleased to announce that it has recently secured the following additional bank facilities:

  • An increase of £40 million in the existing £185 million Battersea Power Station debt facility and the extension of the term of this facility from December 2009 to March 2011. The additional funds will be used to finance the costs of the Battersea Power Station planning application which is due to be lodged in 2009.
  • An increase of €50 million in an existing loan facility which is secured against REO’s income producing investment portfolio in Ireland and matures in 2013 (unchanged).

REO Chairman, Ray Horney, commented:

“REO’s ability to secure additional funding and to extend the term of debt facilities, despite this unusually turbulent period in credit markets, highlights the strong financial position of the Company.  Its robust income producing portfolio and long term development portfolio pipeline underpins this position and should give further confidence in its ability to secure continued growth in the medium term”.


24/10/08

Appointment of Broker

Real Estate Opportunities Limited (the “Company”) is pleased to announce that Goodbody Stockbrokers has been appointed sole broker to the Company with immediate effect.


22/10/08

Planning Application for a new €800 million Ballymun Town Centre Submitted

Treasury Holdings has today lodged a planning application to develop ‘Ballymun Town Centre’, an €800 million mixed use development in the heart of the Ballymun regeneration area in North Dublin.   The proposed new town centre on a 5.9 hectare site will be the final piece in the completion of the Ballymun regeneration programme and the centrepiece of a new town with a projected population of 40,000 people.

Mr. Niall Kavanagh, Director of Development at Treasury Holdings Ireland said, “This is the culmination of years of consultation and hard work with the community, Ballymun Regeneration Ltd. and Dublin City Council. We are delighted to have come this far and we expect that we can complete the development by 2012.”

“The Ballymun area has changed dramatically over the past few years. The publication of the Ballymun Regeneration Completion Report, the opening of the new IKEA store in 2009 and the confirmation of the Metro north project with a station at Ballymun, together, provide an ideal environment for the progression of this development.”

“A significant number of jobs will also be created through this development and these will greatly benefit the local community. 2,000 jobs will be generated during the construction phase and 8,500 direct and indirect jobs will be created once complete.”

 “The Ballymun Town Centre scheme has been designed as a truly sustainable open streets scheme which will become a focal point for the local community. It will provide much needed quality shopping and leisure facilities, and dramatically enhance the range of services for local residents. There will be a new Civic Square at the heart of the scheme which will cater for a host of new restaurants and cafes and a large leisure and cinema complex which will overlook this new public space,” he concluded.

The development is strategically located in the heart of north Dublin and has easy access to the rail network, the airport, Dublin City Centre and the M50, M1 and M2 motorways. It is at the heart of the economic corridor between Dublin Airport and Dublin City Centre, while a Metro stop on the new Metro North line will also be integrated into the development.  The station will provide access to the City Centre in 15 minutes and to Dublin Airport in 10 minutes.  In addition the town centre will only be a short distance from the only IKEA store in the Republic of Ireland which is expected to attract 2 million visitors per annum.

The proposed development will comprise over 60,000 sq.m of retail space, 27,883 sq.m of office space and over 11,000 sq.m of leisure facilities including an 11 screen cinema, bowling alley, family entertainment centre and a child drop in centre.

Complementing 367 residential units will be; state-of-the-art civic amenities, a public library, child friendly amenities, along with car parking spaces and cycle spaces in the new town centre.

Treasury Holdings has been a pioneer in the property sector, both in Ireland and internationally, identifying and capitalising on emerging trends across the globe. The company’s portfolio includes state of the art residential, commercial, retail and leisure developments in Ireland, the UK, London, Russia and China.

The company has been responsible for landmark developments including the largest urban regeneration in Ireland at Spencer Dock, and the country’s first Ritz Carlton Hotel in Powerscourt, Co.Wicklow.


07/10/08

Appointment of Joint Broker


Real Estate Opportunities Ltd (the “Company”) is pleased to announce that Goodbody Stockbrokers has been appointed Joint Broker to the Company with Landsbanki Securities and that Goodbody Corporate Finance has been appointed sponsor to the Company in relation to its listing on the Irish Stock Exchange, with immediate effect.

18/09/08

Sale of Property

Real Estate Opportunities Ltd (“REO”) is pleased to announce completion of the sale of its interest in Northside Shopping Centre, Dublin to Headland Property Holdings, a private company owned by Brian O’Farrell. The sale price of €29.75 million, paid in
cash, represents an uplift of €11.175 million over the property's valuation in the recently published June 2008 accounts.

Commenting on the sale, Ray Horney, REO’s Chairman said:-
"We are pleased with the outcome of this transaction which delivers a handsome profit to REO on a property acquired less than two years ago. The sale price is 60% over the latest valuation and reinforces our view that this company can deliver outperformance even in challenging market conditions."


29/08/08 Interim Management Report For The Six Months To 30 June 2008

Highlights

  • Property portfolio value grew by 4 per cent over the period to £1,848.1 million benefiting from the strength of the euro against sterling.
  • Diluted EPRA Net Asset Value declined by 7 per cent from 143.9p per share to 134.2p per share.
  • Irish portfolio performed in line with expectations, with positive results of up to 25 per cent achieved on recent rent reviews in Dublin.
  • Masterplan for Battersea launched and receives positive initial response: planning submission to be made in early 2009.
Ray Horney, Chairman commented:

“The Directors are satisfied that, against an increasingly harsh economic environment in both Ireland and the UK, performance across the portfolio has been positive. Despite a tough economic climate at present in both the UK and Ireland, the range of projects within the portfolio underpins the prospects for continuing growth in the medium term. Nevertheless, the general outlook for the remaining six months of 2008 is one of caution.”


Please click here to read the full Interim Management Report as a PDF.


18/07/08

Voting results from the Annual General Meeting on 11.06.08

Votes in favour
Votes in favour
Votes against
Votes at the Chairman's discretion
Votes witheld
Resolution one
257,830,255 
1,008 
24,201 
219,308 
Resolution two
257,499,979 
469,082 
24,201 
81,510 
Resolution three
257,969,061 
24,201 
81,510 
Resolution four
258,050,571 
24,201 
Resolution five
257,748,745 
220,316 
24,201 
81,510 
Resolution six
258,050,571 
24,201 


14/07/08

Adoption of International Financial Reporting Standards (IFRS)

The Board announces that Real Estate Opportunities Limited will prepare its interim financial statements for the 6 months to 30 June 2008 in accordance with IFRS.These accounts will include comparable financial information, prepared in accordance with IFRS, for the year ended 31 December 2007 and the 6 months to 30 June 2007.

The Company will announce its interim results by 29 August 2008.

The interim accounts will also include the net asset value and earnings of the Company in accordance with the European Public Real Estate Association guidelines. EPRA earnings are the profit after taxation excluding investment property revaluations and gains/losses on disposals, intangible asset movements and their related taxation. EPRA net assets value (NAV) is the balance sheet net assets excluding the mark to market on effective cash flow hedges and related debt adjustments, deferred taxation on revaluations and diluting for the effect of those shares potentially to be issued under employee share schemes.


20/06/08 Launch of Masterplan for Battersea Power Station

The Board of Real Estate Opportunities Limited is pleased to announce the launch of the masterplan for Battersea Power Station. Below is the press release which will be issued at the official launch.

Battersea Power Station is reborn!

Real Estate Opportunities Limited (“REO”), a London listed property company, today launched its new vision and masterplan for Battersea Power Station.

The iconic Battersea Power Station is to be brought back to life in the most advanced sustainable development ever to be built in this country.

For the first time in a quarter of a century, Battersea Power Station will be used to generate electricity again but from renewable sources rather than coal.

Rob Tincknell, Managing Director of REO’s development manager, Treasury Holdings UK, said: “We don’t embark on projects that we can’t deliver. We are determined that Londoners will not be disappointed and this area will be brought back to life in the most spectacular way. It will be a place to live, work and play.”

Alongside the existing power station there will be a new landmark, high quality building designed by the world-renowned architect Rafael Vinoly, which will be the cleanest and greenest building in London through innovative use of natural ventilation.

A spectacular 300 metre high Chimney and Eco-Dome will dramatically reduce carbon emissions of the 38 acre £4 billion development. The Chimney will also house apartments with panoramic views over London. The largest solar driven natural ventilation system ever conceived will eliminate the need for air conditioning for the commercial and ground floor retail accommodation.

The Chimney will draw air up through a campus of high quality individual office buildings which are covered by the light, transparent Eco-Dome, made of material similar to that used at the Eden Project. Up to 3,000 cubic metres per second of air will be drawn through the system on a sunny day, reducing energy demand in the buildings by 67%.

REO is planning to spend £150 million on saving and repairing Sir Giles Gilbert Scott’s 1930s power station, with the key historic spaces retained and open to the public. It will be developed to incorporate hotel, residential and retail accommodation. It will once again be used to produce power with a new combined cooling, heat and power plant, but this time using biofuels, waste and other renewable energy sources. Two of the existing power station’s chimneys will be reused as flues for this new Energy Centre.

The masterplan, unveiled today by Treasury Holdings UK on behalf of REO, will regenerate an area of London that will provide approximately 8 million square feet (750,000 square metres) of residential, office and retail space. There will be a six acre public park, a riverside walk and an urban square.

The Battersea Power Station development will be home to around 7,000 people and up to 20,000 new jobs will be created. More than 3,200 homes will be built on the site and 2,500 jobs will be created during the construction phase.

It is planned that construction work will start in 2012 and the development will be completed by 2020 – depending on the speed of the planning process.

The site is the single largest development site in central London and will act as a catalyst for the regeneration of the wider Nine Elms Corridor.

Treasury Holdings UK is in discussions with Transport for London and other landowners in the Nine Elms about building an extension of the Northern Line from Kennington to bring the Tube into the heart of Battersea.

The development has six key objectives:

  • The sensitive regeneration of Battersea Power Station
  • The creation of a zero carbon environment
  • The delivery of a sustainable mixed-use development which will ensure marketability and strong demand
  • To act as a catalyst for regeneration of the Nine Elms Corridor
  • To ensure that the project is totally deliverable
  • To facilitate a sustainable public transport solution


Rob Tincknell said:

“Climate change is the 21st century’s most urgent challenge and has not been adequately addressed by the development sector. At times like these we are required to open our minds and take a big leap.

“This will be a power station for the 21st century, sitting alongside Sir Giles Gilbert Scott’s building and supporting a truly sustainable, zero carbon development.

“We believe that we all have a responsibility to commit to true sustainability through groundbreaking innovation and we believe that our development will enhance London’s reputation as a leading global city.

“The preservation of Battersea Power Station alongside contemporary architecture will enhance its importance by juxtaposing old and new. Londoners have a strong emotional attachment to this building but most of all they want to see something positive happening on this site. We will meet and exceed their expectations.”


Rafael Vinoly said:

“Centered on the reconstruction of the remarkable architectural presence of the Power Station, the design introduces a fluid geometry for the new residential buildings that helps guide public access to the site and the waterfront. The open character of the vast industrial naves designed by Gilbert Scott is maintained and the chimneys are brought back into operation, utilized to exhaust water vapour produced by a new biofuel energy plant located in the basement.

“Offset from the volume of the Power Station, a near transparent shaft counterpoints the monumental mass of the building, providing a naturally ventilated office complex. A transparent envelope accommodating a distinctive public space, with access to a new underground station, connects to an adjacent residential component.

“The visual presence of this near transparent marker on the skyline defines a new opportunity area signalling London's commitment to innovation and sustainability.”


19/06/08

Irish Times Property: Top rents for top-end penthouses in docklands

AT €10,000 a month the penthouses in the Alto Vetro residential tower are among the most expensive apartments in Dublin. Treasury Holdings' 16-storey apartment tower, at the corner of Pearse Street and Grand Canal Basin in Dublin 2, has elevations made entirely from glass. Developer Treasury Holdings has pulled out all the stops to create a chic city pad. Apartments range in size from 79sq m (850sq ft) to 232sq m (2,500sq ft) and come complete with custom-made furniture. Style at this level doesn't come cheap and selling agent Sherry FitzGerald is looking for rents ranging from €2,250 to €3,000 for  two-bed units. At the top end are two three-bedroom triplex penthouses with roof gardens which are quoting  €8,000-€10,000 - making them among the most expensive rented apartments in the city, competing only with the likes of the two-bedroom apartments at the Four Seasons Hotel.

Treasury Holdings says interest has been strong since the advertising boards went up last week and a deal has been struck on two apartments. The building doesn't have parking on site but it is available at an extra cost close by, according to a spokeswoman for the developer.


13/06/08 Issue of Shares

The board announces that on 1 June 2007 they approved the conversion of 29,914 Convertible Unsecured Loan Stock (“CULS”) into 29,914 Ordinary Shares. Due to an administrative oversight, the issue of these shares was not previously announced.

The total number of Ordinary shares in issue as advised following the completion of the transaction to acquire the remaining 50% of Havenview Investments Limited, and the issue of Ordinary shares following the CULS conversion on 2 June 2008, were correct and inclusive of the 29,914 Ordinary shares issued on 1 June 2007.

There is no change to the number of issued Ordinary shares which are currently 333,792,816.

11/06/08

Result of Annual General Meeting and Final Dividend

The Board of Real Estate Opportunities Limited announces that all resolutions put to shareholders at the Annual General Meeting were passed.

Following the passing of Resolution 5, to declare a final ordinary dividend, a final ordinary dividend for the year ended 31 December 2007 of 1.5p per share will be paid on 18 July 2008 to Ordinary shareholders on the register as at 20 June 2008.


03/06/08 Issue of Shares

The board announces that on 2 June 2008 they approved the conversion of 1,329 Convertible Unsecured Loan Stock into 1,329 Ordinary Shares. The total number of Ordinary Shares in issue now stands at 333,792,816.


19/05/08

Interim Management Statement

Ireland
Activity in the investment property market has been weak during the first six months of the year driven primarily by poor availability of bank debt funding coupled with low investor confidence. Until such time as liquidity improves sentiment will remain subdued. Occupier demand, particularly in the office sector, remains buoyant. Approximately 45,000 sq m of office lettings was signed in Dublin in Q1 2008. Many of these lettings were agreed last year confirming the view that lease negotiations are taking longer to complete.

The recently issued IPD/SCS Property Databank Index for Q1 2008 indicated that the All Property Total Return Index had a negative return of 2.3%, although rental value growth has remained positive at 1.0%. Capital values in the Index have fallen by 3.3%.

The tentative signs of renewed activity in the new homes market continue mainly in the Dublin area. This activity is driven primarily as a result of price reductions and greater incentives being offered to purchasers by developers. The recent withdrawal of some tracker mortgage products particularly popular with first time buyers along with interest rate increases have not helped this revival.

Irish Property Portfolio
The significant volume of activity in both the development and investment portfolios experienced last year has continued into the first four months of 2008. A substantial emphasis has been placed on asset management and growing the value of the investment portfolio along with preparing development properties for their optimum use by maximizing development potential.

In Central Park, Dublin 18, construction work has commenced on Block G, which will comprise an office building of approximately 18,000 sq.m which has the flexibility to be let as two individual blocks or alternatively on a floor by floor basis. Construction has also commenced the Montevetro office development on Barrow Street, Dublin 4. The building will extend to approximately 19,500 sq.m over fifteen floors and have water frontage to Grand Canal Dock and direct access to Barrow Street DART Station. Construction work has now completed on the Alto Vetro residential tower which includes two retail units. The marketing plan is now being implemented to let the apartments and retail units.

Planning permission revisions are in preparation for the residential development lands at Kinsealy, Co. Dublin and Enniskerry Co. Wicklow following detailed consultations with the respective planning authorities for each area and likewise at the docklands site at North Wall Quay, Dublin 1, (Tedcastles) where there is an existing permission to develop 27,700 sq m of offices on this premier riverfront site. The development of a larger and iconic building is proposed.

In the investment portfolio the Company has agreed the sale of its 21.4% interest in the Northside Shopping Centre, Dublin to one of the co-owners at the agreed price of €29.75m., a 60% profit on its purchase price last year.

United Kingdom
The UK economy continues to demonstrate greater defensiveness to current financial and credit market conditions than the US and Eurozone, but is by no means immune. Most areas of the economy recorded a slowdown, with GDP for the first quarter of 2008 growing by just 0.4 per cent., down from 0.6 per cent. in the previous quarter, or from 2.8 per cent. to 2.5 per cent. on a year-on-year basis. (Source: The Office of National Statistics)

In the recently announced budget, the Chancellor revised official expectations of economic growth to 1.75 to 2.25 per cent. for 2008 and 2.25 to 2.75 per cent. for 2009. Despite underlying inflation exceeding the target rate of 2.5%, the Monetary Policy Committee cut interest rates to 5 per cent. in April 2008.

Whilst economic growth, inflation and employment measures all seem to have stabilised, the uncertainty within the financial sector is forecast to get worse over the coming months. The Bank of England’s Credit Conditions Survey confirmed that credit conditions have tightened significantly for both households and firms, with lenders expecting further reductions in credit availability and higher borrowing costs as a means of protecting themselves against higher default rates and falling house prices. (Source: Bank of England Credit Conditions Survey 2008 Q1)

The annualised all property total return for the 12 months to March 31st 2008 was minus 9.7 per cent. Whilst no clear indication of the duration of the current correction can be found in data from the first quarter of 2008, total negative returns of 3.3 per cent. are a substantial improvement from minus 7.6 per cent. recorded in the previous quarter. (Source: Investment Property Databank)

UK Property Portfolio
Since December 2007 Treasury Holdings UK, on behalf of REO, has concentrated in detail on the revised masterplanning of the Battersea Power Station site in London and will shortly commence the consultation process. The Treasury team is now headed up by Robert Tincknell who joined Treasury in 2002 and is the Group Deputy Managing Director.

Together with Rafael Vinoly Architects and the professional consultants, the team have spent time carefully understanding the complexity of the Battersea site so that the end development solution is one that is robust and deliverable. We also feel that the new design not only maximises the sites potential, but is also both environmentally and economically sustainable and will become the focal point for the wider regeneration of the area. It is currently forecast that a revised planning application will be made early in 2009.

During the period, the team have also liaised with the Greater London Authority, Transport for London and Wandsworth Borough Council regarding the wider Nine Elm regeneration. To this end, the GLA and TfL have begun work on the preparation of the Nine Elms Opportunity Area Planning Framework. This important document will set out in detail the structure of future development from the Power Station to Vauxhall and also proposals for substantial upgrades to the public transportation network

Financial Overview
This Interim Management Statement covers the 3 month period from 31 December 2007 to date.

The Group’s financial position remains solid and there have been no material events or transactions which have affected the Group over the relevant period. The property portfolio was last revalued on 31 December 2007 when the Group reported a year-on-year increase of 54% in investment and development properties. The property portfolio will next be valued by an external valuer on 30 June 2008.

There have been significant recent movements in exchange rates, notably a strengthening of the Euro. Should these persist, this will continue to have a favourable impact on the Group’s Net Asset Value per share. At 31 December 2007 the Group had Euro denominated net assets of £543million.

There have been no other significant changes to the balance sheet or equity structure since the publication of our results for the year ended 31 December 2007.


15/04/08

Real Estate Opportunities Limited Annual Information Update

This annual information updated is required by, and is being made pursuant to, Article 10 of the Prospectus Directive as implemented in the United Kingdom (Prospectus Rule 5.2) and not for any other purpose and neither the Company, nor any other person, takes any responsibility for, or makes any representation, express or implied, as to the accuracy or completeness of, the information which it contains. This information is not necessarily up to date as at the date of this annual information update and the Company does not undertake any obligation to update any such information in the future.

1. Regulatory Information Service (‘RIS’) announcements

2007

Release Date       Announcement Title
03/01/07                Portfolio Update
16/03/07                Statement re REO settlement
16/03/07                Statement re settlement
28/03/07                Directorate change
04/04/07                Masterplanner Appointed
11/04/07                Notice of Results
17/04/07                Dividend Declaration
17/04/07                Final Results
09/05/07                Annual Report and Accounts
11/05/07                Holding(s) in Company
16/05/07                Statement re UBS Settlement
01/06/07                Re Net Asset Value(s)
13/06/07                Result of AGM
09/07/07                Possible Fundraising
09/07/07                Update re CREO
18/07/07                Core technical team appointed
05/09/07                Holding(s) in Company
19/09/07                Interim results
28/09/07                Change of Administrator
12/10/07                Proposed Acquisition
06/11/07                Directors’ Dealing
08/11/07                Bremore Port Agreement
08/11/07                Results of EGM
19/11/07                Director / PDMR shareholding
11/12/07                Directorate change
17/12/07                Holding(s) in Company
18/12/07                Posting of circular
19/12/07                Director / PDMR shareholding
21/12/07                Director / PDMR shareholding

2008

14/01/08                Director / PDMR shareholding
15/01/08                Director / PDMR shareholding
18/01/08                Results of Meetings
24/01/08                Directors shareholding
29/01/08                Director / PDMR shareholding
29/01/08                Notifications of interests
14/02/08                Results of Court Hearing
18/02/08                Suspension - Real Estate Opportunities Limited ZDPs
18/02/08                MM - Temporary suspension amendment
10/03/08                Alternate Directors
17/03/08                Further re Directorate
31/03/08                Final Results


All of the information listed above is available for viewing on the London Stock
Exchange RNS website.


 

31/03/08

Preliminary Annoucement of the Annual Report and Accounts for the year ended 31st December 2007

Please click here to read the Preliminary Announcement.


17/03/08 Real Estate Opportunities Limited Directorate

Further to the announcement made on 10 March 2008, the Directors of Real Estate Opportunities Limited announce the following information in accordance with Rule 9 of the Listing Rules in respect of Richard Wilkinson Thomas and Jane Margaret Pearce, both Jersey residents, who have been appointed by Keith Jenkins and Martin Richardson to act as their alternate directors.

Richard Wilkinson Thomas
Past company directorships and partnerships
Barclays Euro Funds (SICAV) Limited
Barclays Investment Fund (Channel Islands) Limited
Barclays Investment Funds (Luxembourg) SICAV
Baring Asset Mgmt Institutional Umbrella Fund Ltd
Blue Stripe 1999-1 Limited
Blue Stripe 2000-1 Limited
Blue Stripe Funding 1999-1 Limited
Blue Stripe Funding 2000-1 Limited
BOC Holdings (Jersey) Limited
Buckingham Limited
Capita Trust Company (Jersey) Limited (Form Royal)
Channel House Financial Services Group Limited
Core 1998-1 Limited
Development Capital Advisors (CI) Limited
Development Finance Corporation Limited
Dominique Limited
Earlingham Limited
Eastwood Limited
Eight-Thirty Limited
Exelsior Finance Limited
Forbrit Nominees Limited
Forbrit Secretaries Limited
Gear 1998-1 Limited
Globe 1999-1 Limited
Greve De Lecq Caterers Limited
Henderson Global Investors (Jersey) Limited
Henderson International Holdings Limited
James Capel (CI) Nominees Limited
Jersey House (1953) Limited
Jupiter Carme Hedge Fund Limited
Jupiter Funds of Hedge Funds Limited
Jupiter New Asian Property Fund Limited
Lerisson Nominees Limited
LTR Finance No.1 Limited
M C Partners III LLC
Marlborough Limited
Millennium Plaza Limited
MP Holdings Limited
NALF (Thailand) Limited
NALF Capital Limited
NALF Concepts Limited

NALF Development Limited
NALF Estates Limited
NALF Holdings Limited
NALF Initials Limited
NALF Lakeview Limited
NALF Pale Limited
NALF Participation Limited
NALF Policies Limited
NALF Properties Limited
NALF Realisations Limited
NALF Regeneration Limited
NALF Script Limited
NALF Ventures Limited
Ogier Corporate Services (Jersey) Limited
Ogier Corporate Trustee (Jersey) Limited
Ogier Private Trustee Services (Jersey) Limited
Okay Leasing Limited
Ramillies Limited
Red Arrow Limited
Rheingold No.11 Limited
Rheingold No.12 Limited
Rheingold No.14 (UK) Limited
Rheingold No.2 Limited
Rheingold No.3 Limited
Rheingold No.4 Limited
Rheingold No.5 Limited
Rheingold No.6 Limited
Rheingold No.7 (Jersey) Limited
Rheingold No.7 (UK) Limited
Rheingold No.8 Limited
Rhein-Main No. 1 Limited
Rhein-Main No. 10 Limited
Rhein-Main No. 15 Limited
Rhein-Main No. 16 Limited
Rhein-Main No. 2 Limited
Rhein-Main No. 21 Limited
Rhein-Main No. 3 (UK) Limited
Rhein-Main No. 7 Limited
Saye Limited
Shandos Limited
Sorphora Limited
Southwood Limited
Surabaya Property Limited
SUV Funding Limited
The Archipelago Fund SICAF
The New Asian Land Fund Limited
Thornham Land Limited
Triple C Limited
Woodman Investments Limited
Current company directorships and partnerships
3 Retraite de la Mielle Limited
AAIM Property Fund 1 Limited
ABS21 Limited
Alon Technology Ventures Limited
Alster Limited
Aspen Investments (2005) Limited
B Avenue Land Limited
B Eighty A (Bermuda) Limited
B Eighty B (Bermuda) Limited
B Eighty C Limited
B Eighty D Limited
B Eighty E Limited
B Eighty F Limited
B Sixty Four B Limited
Barclays Wealth Management Jersey Ltd
Birdsong Capital Limited
Black Sea Enhanced Returns Fund Limited
BMORE NO.1 Limited
Breadth Holdings (Bermuda) Limited
Brewery Holdings Limited (in liquidation)
Burnt Oak Holdings (Bermuda) Limited
C Eighty Three C (Bermuda) Limited
C Eighty Three D (Bermuda) Limited
C Seventy Two C Limited
Chateauneuf (Bermuda) Limited
Core 1999-1 Limited
CRST011100 Limited
Depth (Bermuda) Limited
Englehall Limited
F.W. Investments Limited
Fay, Richwhite Investment Limited
Felix (Bermuda) Limited
Fervida (Bermuda) Limited
Fervida Limited
Flavida (Bermuda) Limited
Flavida Limited
Four Leaf Clover (Jersey) Limited
Friar (Bermuda) Limited
Gold Hawk (Bermuda) Limited
Grampian Purchasing No.5 Limited
Greenford (Bermuda) Limited
H Fifty Eight A (Bermuda) Limited
H Fifty Eight B (Bermuda) Limited
H Fifty Eight C (Bermuda) Limited
H Fifty Eight D (Bermuda) Limited
Haus 1998-1 Limited
Henderson Global Investors (Jersey) 2 Limited
Hertford Holdings Limited
Hexagon Investments (Bermuda) Limited
High Moor Agricultural Holdings Limited
Hillingdon (Bermuda) Limited
Horos Limited
HSBC Investments (International) Limited
Intermediate Capital GP Limited
Jupiter Europa Hedge Fund Limited
Jupiter Ganymede Hedge Fund Limited
Jupiter Hyde Park Hedge Fund Limited
Jupiter Merlin Absolute Return Portfolio Limited
Jupiter Offshore Portfolio Fund Limited (JOPFL)

Loch Lossit Limited
M Fifty Eight (Bermuda) Limited
Maple Corporate Finance Limited
Monitor Fund Limited
N & R Limited
Nordic Land Limited
Nova No.1 Limited
Oban Fund Limited
Ogier Corporate Administration Limited
Ogier Corporate Services (UK) Limited
Ogier Executor And Trustee Company Limited
Ogier Fiduciary Services (Jersey) Limited
Ogier Fiduciary Services (UK) Limited
Ogier Fund Administration (Jersey) Limited
One Forty Five Limited
PLMS Limited
Prelude Limited
Prisma Fund Limited
Procida (Bermuda) Limited
Pur (Bermuda) Limited
Retraite Holdings Limited
Rheingold No.1 Limited
Rheingold No.10 Limited
Rheingold No.14 (Jersey) Limited
Rheingold No.9 Limited
Rheingold Securitisation Holdings Limited
Rheingold Securitisation Limited
Rhein-Main No. 11 (Jersey) Limited
Rhein-Main No. 11 (UK) Limited
Rhein-Main No. 12 Limited
Rhein-Main No. 14 Limited
Rhein-Main No. 18 Limited
Rhein-Main No. 20 Limited
Rhein-Main No. 3 (Jersey) Limited
Rhein-Main No. 5 Mortgage Purchase Limited
Rhein-Main No. 9 Limited
Rhein-Main Securitisation Holdings Limited
Rhein-Main Securitisation Limited
Shadowfax Holdings Limited
Silver Funding Limited
Somana (Bermuda) Limited
Stee (Bermuda) Limited
Stowe Holdings (Bermuda) Limited
Thornham Land Holdings Limited
Time (Jersey) Limited
Tio (Bermuda) Limited
VC Consult Ltd
Vencap (Channel Islands) Limited
Vencap 11 Investments Limited
Vencap 11 Limited
Vencap 6 Investments Limited
Vencap 6 LLC Limited
Vencap 7 Limited
Vencap 7 LLC
Vencap 9 Limited
Vencap 9 LLC
Veritas Limited
Vest (Bermuda) Limited
Vincitas Limited
Weinberg Funding Limited
Width Holdings (Bermuda) Limited
Winley Limited
Woodman (High Moor) Limited
Woodman (Whitworth) Limited

Richard Wilkinson Thomas was a director of Vernita Limited, which went in to compulsory liquidation in 1982 as a result of adverse effect on trading of currency rate fluctuations. There was no criticism of any directors involved. Full details were supplied to Jersey Financial Services Commission.

Jane Margaret Pearce
Past company directorships and partnerships
Oakcombe Worldwide Limited
Pricoa Capital Management (Jersey) Limited
Tosca Gardens Limited
C&EE General Partners Limited
Dresdner Kleinwort Capital Jersey Limited
ARGUS Capital (General Partner) Limited
H&B Holding Limited
GPEK (Jersey)Limited
ARGUS Capital Holding Limited
ARGUS Capital Group Limited
Quartilium Primaries I LLC
Autum Limited
Blental Limited
Cartman Limited
Corporate Directors (No2) Limited
Docket Limited
Fortress Limited
Orbis Management Limited
Corporate Secretaries (Jersey) Limited
Kleinwort Benson (Jersey) Trustees (1997) Limited
Kleinwort Benson (Jersey) Trustees Limited
Rhodin Limited
Shendle Limited
Springfield Limited
Corporate Secretaries (Jersey) Limited
Intermediate Capital GP Limited
Intermediate Capital GP 2003 Limited
Mezzanine Investors Jersey SPV Limited
Quartilium Primaries II LLC
Rhyme (Jersey) Limited
PHF Funding Limited
PHF Securities No 1 Limited
PHF Reversions No1 Limited
PHF Property Leasing Limited
PHF Investments Holdings Limited
PHF Investments Limited

PHF Securities No2 Limited
PHF Reversions No2 Limited
PHF Investments Holdings No2 Limited
PHF Securities No3 Limited
PHF Reversions No3 Limited
PHF (BOSS) Limited
Nickle Investments Limited
Sandown Care Services (Jersey) Limited
Principal Healthcare Finance Limited
Principal Healthcare Finance Investments (Guernsey) Limited
Principal Healthcare Finance Holdings (Guernsey) Limited
Intermediate Capital GP 2003 No.1 Limited
Silver Springs Limited
Serra Coinvestment GP Limited
FSHC Properties (Holdings) Limited
PRO Butterfield Limited
PHF (CHP) Limited
FSHC Jersey Developments Limited
Eulysses limited
Intermediate Capital Asia Pacific Mezzanine 2005 GP Limited
Intermediate Capital Asia Pacific Mezzanine Opp 2005 GP Limited
Geronimo Limited
Heracles Limited
Ipcress Limited
ARGUS Capital (General Partner II) Limited
Emirates Real Estate Enterprise One Limited
Kleinwort Benson (Channel Islands) Corporate Services Limited
Kleinwort Benson (Jersey) Trustees Limited
Intermediate Capital Asia Pacific Mezzanine 2005 LP
Intermediate Capital Asia Pacific Mezz Opportunity 2005 LP
Ogier Fiduciary Services (Jersey) Limited
Ogier Fund Administration (Jersey) Limited

Current company directorships and partnerships
Ascania Capital Limited
Autolycus Limited
BI-Invest GP Limited
DRND Finance Limited
ICAP Mezzanine 2005 GP
ICAP Mezzanine Opportunity 2005 GP
ICG European Fund 2006 GP Limited
Index Venture Associates IV (IGP) Limited
Index Venture Associate IV Limited
Index Venture Management IV (Jersey) Limited
SPQR Capital (GP) Limited
Ventizz Jersey Holding Company GP Lmited
Ventizz II Jersey Management Limited
VCF IV Limited

10/03/08 Real Estate Opportunities Limited Directorate

The Directors of Real Estate Opportunities Limited ("REO" or the "Company") announce that Richard Wilkinson Thomas and Jane Margaret Pearce, both Jersey residents, have both been appointed by Keith Jenkins and Martin Richardson to act as their alternate directors. It is expected that any alternate director duties undertaken by Richard Thomas and Jane Pearce will be minimal, if at all, and will only be to ensure the Company can continue to carry out business as normal, if for any reason Keith Jenkins and Martin Richardson are unavailable.

Further information required to be disclosed under Chapter 9 the Listing Rules will be made in due course.


10/03/08 Voting results from shareholders and CULS holders meetings on 18 January 2008

Results are as follows:

1) A court meeting of the zero dividend preference shareholders at 11.15am. Votes cast in favour of resolution one were 23,204,960 and 57,164 against. 99.75% of votes in favour on a poll.

2) A class meeting of the zero dividend preference shareholders at 11.25am. Votes cast in favour of resolution one were 25,723,568 and 130,664 votes against. 99.49% of votes in favour of the resolution on a show of hands. Votes cast in favour of resolution two were 25,725,568 and 130,664 against. 99.49% of votes in favour of the resolution on a show of hands.

3) A class meeting of the ordinary shareholders at 11.35am. Votes cast in favour of resolution one were 312,651,851 and none against. 100% of votes in favour of the resolution on a show of hands. Votes cast in favour of resolution two were 312,651,851 and none against. 100% of votes in favour of the resolution on a show of hands.

4) Extraordinary General Meeting held at 11.45am. Votes cast by the ordinary and zero dividend preference shareholders in favour of resolution one were 327,065,819 and votes against were 22,604. 99.92% of votes in favour of the resolution on a show of hands. Votes cast by the shareholders in favour of resolution two were 312,851,851 and none against. 100% of votes in favour of the resolution on a show of hands.

5) Meeting of the CULS holders held at 11.55am. Votes cast in favour of resolution one were 61,134,909 and votes against were 2,420,000. 96.19% of votes in favour of the resolution on a show of hands.

14/02/08 Results of Court Hearing

The Directors of Real Estate Opportunities Limited are pleased to announce that the Royal Court of Jersey has granted approval of the Scheme of Arrangement (described in the shareholder circular dated 18 December 2007) at the Court hearing which took place earlier today. The Scheme of Arrangement does not however become effective until the minute confirming the reduction of capital in relation to the Scheme is certified as registered by the Jersey Registrar of Companies, which is now expected to take place on 15 February, 2008. On this basis, it is expected that admission of the 57,755,782 new zero dividend preference shares of REO Securities Limited to the Official List of the UK Listing Authority will take place on 18 February, 2008, with dealings therein on the London Stock Exchange to commence, and the suspension of the listing of the existing zero dividend preference shares to become effective, on the same day.

29/01/08
 TR-1: Notifications of Major Interests in Shares
1. Identity of the issuer or the underlying
issuer of existing shares to which voting rights
are attached:
Real Estate Opportunities
Limited (the "Company")
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights
 
Yes
 
 
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An event changing the breakdown of voting rights
Other (please specify): ____________________________________
3. Full name of person(s) subject to notification obligation: Treasury Holdings
4. Full name of shareholder(s) (if different from 3): IREO Irish Real Estate Opportunities
Fund plc
5. Date of transaction (and date on which the threshold is crossed or reached if different): 28 January 2008
6. Date on which issuer notified: 28 January 2008
7. Threshold(s) that is/are crossed or
reached:
13 per cent.

8: Notified Details
A: Voting rights attached to shares
Class/type of
shares

If possible use ISIN
code
GB0030365182
7.5 per cent
Convertible
unsecured
loan stock in
the Company
Situation previous to the
triggering transaction
Resulting situation after the triggering transaction
Number of
shares
Number of
voting rights
Number of
shares
Number of
voting rights
Percentage of
voting rights
Direct Indirect  Direct  Indirect 
10,928,790 10,928,790 13,553,790 13,553,790   13.40  

B: Financial Instruments
Resulting situation after the triggering transaction
Type of financial
instrument
Expiration date Exercise/
conversion
period/date
No. of voting rights
that may be acquired
(if the instrument
exercised/converted) 
Percentage of
voting rights
         

Total (A+B)
Number of voting rights Percentage fo voting rights
   

9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:
 

Proxy Voting:
10. Name of proxy holder:  
11. Number of voting rights proxy holder will cease to hold:  
12. Date on which proxy holder will cease to hold voting rights:  

13. Additional information:  
14. Contact name: Maria McDermott on behalf of Ogier
Fund Administration (Jersey) Limited -
Secretary and Administrator
15. Contact telephone number: 00 44 1534 504000


29/01/08

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).
(1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.
(2) An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8,13, 14, 16, 23 and 24.
(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.
(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

Please complete all relevant boxes should in block capital letters.

1. Name of the issuer
REAL ESTATE OPPORTUNITIES LIMITED (THE "COMPANY")

2. State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.4R(1)(a);
or (ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985;
or (iii) both (i) and (ii)
(ii) DIRECTOR

3. Name of person discharging managerial responsibilities/director
MR RICHARD BARRETT

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person
YES, IREO IRISH REAL ESTATE OPPORTUNITIES FUND PLC

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial
BENEFICIAL

6. Description of shares (including class), instruments relating to shares
7.5 PER CENT. CONVERTIBLE UNSECURED LOAN STOCK IN THE COMPANY ISSUED PURSUANT TO A TRUST DEED DATED 20 JUNE 2001 ("CULS").

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them
IREO IRISH REAL ESTATE OPPORTUNITIES FUND PLC

8 State the nature of the transaction interest debentures or derivatives or financial
PURCHASE

9. Number of shares, debentures or financial instruments relating to shares acquired
2,625,000 CULS

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)
2.6 PER CENT. OF CULS

11. Number of shares, debentures or financial instruments relating to shares disposed

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

13. Price per share or value of transaction
114p

14. Date and place of transaction
28 JANUARY 2008 - LONDON

15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

  ORDINARY
1P SHARES
PERCENTAGE
OF ISSUED
CLASS
CULS £1
UNITS
PERCENTAGE
OF TOTAL
LOAN NOTES
RICHARD
B ARRETT
221,781,040 66.44% 13,553,79 13.40%


THE INTERESTS OF MR. BARRETT IN THE REO ORDINARY SHARES ARE REPRESENTED BY THE SHAREHOLDING OF TREASURY HOLDINGS, IN WHICH MR. BARRETT HAS A 50 PER CENT. BENEFICIAL INTEREST AND BY THE SHAREHOLDINGS OF BROSSBAR, M1 DEVELOPMENT COMPANY LIMITED AND IREO IRISH REAL ESTATE OPPORTUNITIES FUND PLC WHICH ARE SUBSIDIARIES OF TREASURY HOLDINGS. THE INTERESTS OF MR. BARRETT IN THE CULS ARE REPRESENTED BY THE SHAREHOLDING OF IREO IRISH REAL ESTATE OPPORTUNITIES FUND PLC

16. Date issuer informed of transaction
28 January 2008

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17 Date of grant 18. Period during which or date on which it can be exercised

19. Total amount paid (if any) for grant of the option

20. Description of shares or debentures involved (class and number)

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise

22. Total number of shares or debentures over which options held following notification

23. Any additional information

24. Name of contact and telephone number for queries
MARIA MCDERMOTT + 44 (0) 1534 504000

Name and signature of duly authorised officer of issuer responsible for making notification
MARIA MCDERMOTT, FOR AND ON BEHALF OGIER FUND ADMINISTRATION (JERSEY) LIMITED, SECRETARY AND ADMINISTRATOR



24/01/08 NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).

(1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.
(2) An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8,13, 14, 16, 23 and 24.
(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.
(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

Please complete all relevant boxes should in block capital letters.

1. Name of the issuer
REAL ESTATE OPPORTUNITIES LIMITED (THE "COMPANY")

2. State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.4R(1)(a);
or (ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985;
or (iii) both (i) and (ii)
(ii) DIRECTOR

3. Name of person discharging managerial responsibilities/director
MR RICHARD BARRETT

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person
YES, IREO Irish Real Estate Opportunities Fund plc

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial
BENEFICIAL

6. Description of shares (including class), instruments relating to shares
7.5 PER CENT. CONVERTIBLE UNSECURED LOAN STOCK IN THE COMPANY ISSUED PURSUANT TO A TRUST DEED DATED 20 JUNE 2001 ("CULS").

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them
IREO Irish Real Estate Opportunities Fund plc

8 State the nature of the transaction interest debentures or derivatives or financial
PURCHASE

9. Number of shares, debentures or financial instruments relating to shares acquired
250,000 CULS

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)
0.24 PER CENT. OF CULS

11. Number of shares, debentures or financial instruments relating to shares disposed

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

13. Price per share or value of transaction
114p

14. Date and place of transaction
23 JANUARY 2008 - LONDON

15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

  ORDINARY
1P SHARES
PERCENTAGE
OF ISSUED
CLASS
CULS £1
UNITS
PERCENTAGE
OF TOTAL
LOAN NOTES
RICHARD
BARRETT
221,781,040 66.44% 10,928,790 10.80%

THE INTERESTS OF MR. BARRETT IN THE REO ORDINARY SHARES ARE REPRESENTED BY THE SHAREHOLDING OF TREASURY HOLDINGS, IN WHICH MR. BARRETT HAS A 50 PER CENT. BENEFICIAL INTEREST AND BY THE SHAREHOLDINGS OF BROSSBAR, M1 DEVELOPMENT COMPANY LIMITED AND IREO IRISH REAL ESTATE OPPORTUNITIES FUND PLC WHICH ARE SUBSIDIARIES OF TREASURY HOLDINGS. THE INTERESTS OF MR. BARRETT IN THE CULS ARE REPRESENTED BY THE SHAREHOLDING OF IREO IRISH REAL ESTATE OPPORTUNITIES FUND PLC

16. Date issuer informed of transaction
23 January 2008

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17 Date of grant 18. Period during which or date on which it can be exercised

19. Total amount paid (if any) for grant of the option

20. Description of shares or debentures involved (class and number)

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise

22. Total number of shares or debentures over which options held following notification

23. Any additional information

24. Name of contact and telephone number for queries
MARIA MCDERMOTT + 44 (0) 1534 504000

Name and signature of duly authorised officer of issuer responsible for making notification
MARIA MCDERMOTT, FOR AND ON BEHALF OGIER FUND ADMINISTRATION (JERSEY) LIMITED, SECRETARY AND ADMINISTRATOR


18/01/08

Results of shareholder and convertible loan stock holder meetings and
Court meeting

The Directors of Real Estate Opportunities Limited (“the Company”) are pleased to announce that all resolutions proposed to effect the adoption of new articles of association, to cancel the Company’s share premium account, to cancel the Company’s existing issued zero dividend preference shares and to issue in exchange zero dividend preference shares in a new subsidiary, REO Securities Limited, all as described in the Company’s circular to shareholders dated 18 December, 2007, were duly passed today at meetings in Jersey of the Company’s shareholders and convertible loan stock holders and a meeting of the Company’s zero dividend preference shareholders convened by order of the Royal Court of Jersey.

Subject to approval of the Scheme of Arrangement described in the aforementioned circular at the Court hearing scheduled for 14 February, 2008, it is expected that the effective date of the Scheme of Arrangement will be 15 February, 2008, on which day dealings in the zero dividend preference shares of REO Securities Limited on the London Stock Exchange are expected to commence. A further announcement will be made in due course.


15/01/08 International partner chosen to plan Ireland’s new deepwater Port at Bremore

Bremore Ireland Port Ltd, the joint venture between Drogheda Port Company and Castle Market Holdings Limited, announces today that it has signed a Memorandum of Understanding with a wholly owned subsidiary of Hutchison Port Holdings (“HPH”) to develop a Port Master Plan for the new €300 million deepwater port at Bremore in north County Dublin.

The signing paves the way for the next phase in the development of the deepest port on the east coast of Ireland. Bremore Ireland Port hopes to be in a position to submit a full planning application in the next 12 months.

The development of Bremore is a strategic response to the impending deficit in port capacity not only at Drogheda Port but also on the whole of the east coast of Ireland. The new deepwater port will provide additional choice to Ireland’s importers and exporters, and accommodate new short sea shipping services to the United Kingdom, Europe, Scandinavia and the Baltic States. Bremore Port will be designed and operated to meet the highest environmental standards and with respect for the local community.

Bremore Ireland Port Limited is a joint venture partnership between Drogheda Port Company and Castle Market Holdings Limited, a wholly owned subsidiary of Real Estate Opportunities Limited. REO is managed by Treasury Holdings.

HPH is the world’s leading port investor, developer and operator with interests in a total of 292 berths in 46 ports, spanning 23 countries throughout Asia, the Middle East, Africa, Europe and the Americas.

Paul Fleming, CEO of Drogheda Port Company commented:
“We are delighted to welcome HPH to the Bremore team. Their port planning and operational experience will be a major asset to the development of Bremore Ireland Port.”

John Bruder, managing director of Treasury Holdings’ Irish business, commented:
“Bremore Port is one of the most exciting commercial developments in Ireland at present and we are delighted that a truly world class international partner in HPH is now on board”

14/01/08 Real Estate Opportunities Limited
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).

(1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.
(2) An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8,13, 14, 16, 23 and 24.
(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.
(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

Please complete all relevant boxes should in block capital letters.

1. Name of the issuer
REAL ESTATE OPPORTUNITIES LIMITED (THE "COMPANY")

2. State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.4R(1)(a);
or (ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985; or (iii) both (i) and (ii)
(ii) DIRECTOR

3. Name of person discharging managerial responsibilities/director
MR RICHARD BARRETT

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person
YES, IREO Irish Real Estate Opportunities Fund plc

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial
BENEFICIAL

6. Description of shares (including class), instruments relating to shares
7.5 PER CENT. CONVERTIBLE UNSECURED LOAN STOCK IN THE COMPANY ISSUED PURSUANT TO A TRUST DEED DATED 20 JUNE 2001 ("CULS").

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them
IREO Irish Real Estate Opportunities Fund plc

8 State the nature of the transaction interest debentures or derivatives or financial
PURCHASE

9. Number of shares, debentures or financial instruments relating to shares acquired
250,000 CULS

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)
0.24 PER CENT. OF CULS

11. Number of shares, debentures or financial instruments relating to shares disposed

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

13. Price per share or value of transaction
122.5p

14. Date and place of transaction
11 JANUARY 2008 - LONDON

15. Total holding following notification and total percentage holding following notification
(any treasury shares should not be taken into account when calculating percentage)

  ORDINARY
1P SHARES
PERCENTAGE
OF ISSUED
CLASS
CULS £1
UNITS
PERCENTAGE
OF TOTAL
LOAN NOTES
RICHARD BARRETT 221,781,040 66.44 10,678,790 10.56%

THE INTERESTS OF MR. BARRETT IN THE REO ORDINARY SHARES ARE REPRESENTED BY THE SHAREHOLDING OF TREASURY HOLDINGS, IN WHICH MR. BARRETT HAS A 50 PER CENT. BENEFICIAL INTEREST AND BY THE SHAREHOLDINGS OF BROSSBAR, M1 DEVELOPMENT COMPANY LIMITED AND IREO IRISH REAL ESTATE OPPORTUNITIES FUND PLC WHICH ARE SUBSIDIARIES OF TREASURY HOLDINGS. THE INTERESTS OF MR. BARRETT IN THE CULS ARE REPRESENTED BY THE SHAREHOLDING OF IREO IRISH REAL ESTATE OPPORTUNITIES FUND PLC

16. Date issuer informed of transaction
11 January 2008

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17 Date of grant 18. Period during which or date on which it can be exercised

19. Total amount paid (if any) for grant of the option

20. Description of shares or debentures involved (class and number)

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise

22. Total number of shares or debentures over which options held following notification

23. Any additional information

24. Name of contact and telephone number for queries
MARIA MCDERMOTT + 44 (0) 1534 504000

Name and signature of duly authorised officer of issuer responsible for making notification
MARIA MCDERMOTT, FOR AND ON BEHALF OGIER FUND ADMINISTRATION (JERSEY) LIMITED, SECRETARY AND ADMINISTRATOR


21/12/07 Real Estate Opportunities Limited
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).

(1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.
(2) An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8,13, 14, 16, 23 and 24.
(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

Please complete all relevant boxes should in block capital letters.

1. Name of the issuer
REAL ESTATE OPPORTUNITIES LIMITED (THE "COMPANY")

2. State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.4R(1)(a);
or (ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985; or (iii) both (i) and (ii)
(ii) DIRECTOR

3. Name of person discharging managerial responsibilities/director
MR RICHARD BARRETT

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person
YES, TREASURY HOLDINGS

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial
BENEFICIAL

6. Description of shares (including class), instruments relating to shares
7.5 PER CENT. CONVERTBLE UNSECURED LOAN STOCK IN THE COMPANY ISSUED PURSUANT TO A TRUST DEED DATED 20 JUNE 2001 ("CULS").

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them
TREASURY HOLDINGS

8 State the nature of the transaction interest debentures or derivatives or financial
PURCHASE

9. Number of shares, debentures or financial instruments relating to shares acquired
100,000

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)
0.1 PER CENT. OF CULS

11. Number of shares, debentures or financial instruments relating to shares disposed

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

13. Price per share or value of transaction
122.0p

14. Date and place of transaction
20 DECEMBER 2007 - LONDON

15. Total holding following notification and total percentage holding following notification
(any treasury shares should not be taken into account when calculating percentage)

  ORDINARY
1P SHARES
PERCENTAGE
OF ISSUED
CLASS
CULS £1
UNITS
PERCENTAGE
OF TOTAL
LOAN NOTES
RICHARD BARRETT 222,629,571 66.7 10,428,790 10.31%

THE INTERESTS OF MR. BARRETT IN THE REO ORDINARY SHARES ARE REPRESENTED BY THE SHAREHOLDING OF TREASURY HOLDINGS, IN WHICH MR. BARRETT HAS A 50 PER CENT. BENEFICIAL INTEREST AND BY THE SHAREHOLDINGS OF BROSSBAR LIMITED, M1 DEVELOPMENT COMPANY LIMITED AND IREO IRISH REAL ESTATE OPPORTUNITIES FUND PLC WHICH ARE SUBSIDIARIES OF TREASURY HOLDINGS. THE INTERESTS OF MR. BARRETT IN THE CULS ARE REPRESENTED BY THE SHAREHOLDING OF IREO IRISH REAL ESTATE OPPORTUNITIES FUND PLC

16. Date issuer informed of transaction
20 DECEMBER 2007

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17. Date of grant

18. Period during which or date on which it can be exercised

19. Total amount paid (if any) for grant of the option

20. Description of shares or debentures involved (class and number)

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise

22. Total number of shares or debentures over which options held following notification

23. Any additional information

24. Name of contact and telephone number for queries
MARIA MCDERMOTT + 44 (0) 1534 753827

Name and signature of duly authorised officer of issuer responsible for making notification
MARIA MCDERMOTT, FOR AND ON BEHALF OGIER FUND ADMINISTRATION (JERSEY) LIMITED, SECRETARY AND ADMINISTRATOR

19/12/07 Real Estate Opportunities Limited
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).

(1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.
(2) An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8,13, 14, 16, 23 and 24.
(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.
(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

Please complete all relevant boxes should in block capital letters.

1. Name of the issuer
REAL ESTATE OPPORTUNITIES LIMITED (THE "COMPANY")

2. State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.4R(1)(a);
or (ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985; or (iii) both (i) and (ii)
(ii) DIRECTOR

3. Name of person discharging managerial responsibilities/director
MR RICHARD BARRETT

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person
YES, TREASURY HOLDINGS

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial
BENEFICIAL

6. Description of shares (including class), instruments relating to shares
7.5 PER CENT. CONVERTBLE UNSECURED LOAN STOCK IN THE COMPANY ISSUED PURSUANT TO A TRUST DEED DATED 20 JUNE 2001 ("CULS").

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them
TREASURY HOLDINGS

8 State the nature of the transaction interest debentures or derivatives or financial
PURCHASE

9. Number of shares, debentures or financial instruments relating to shares acquired
1,000,000

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)
0.99 PER CENT. OF CULS

11. Number of shares, debentures or financial instruments relating to shares disposed

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

13. Price per share or value of transaction
122.5p FOR 500,000 CULS PURCHASED ON 19 DECEMBER 2007
122.0p FOR 500,000 CULS PURCHASED ON 18 DECEMBER 2007

14. Date and place of transaction
500,000 CULS PURCHASED ON 18 DECEMBER 2007 - LONDON
500,000 CULS PURCHASED ON 19 DECEMBER 2007 - LONDON

15. Total holding following notification and total percentage holding following notification
(any treasury shares should not be taken into account when calculating percentage)

  ORDINARY
1P SHARES
PERCENTAGE
OF ISSUED
CLASS
CULS £1
UNITS
PERCENTAGE
OF TOTAL
LOAN NOTES
RICHARD BARRETT 221,781,040 66.7 10,328,790 10.21%

THE INTERESTS OF MR. BARRETT IN THE REO ORDINARY SHARES ARE REPRESENTED BY THE SHAREHOLDING OF TREASURY HOLDINGS, IN WHICH MR. BARRETT HAS A 50 PER CENT. BENEFICIAL INTEREST AND BY THE SHAREHOLDINGS OF BROSSBAR LIMITED, M1 DEVELOPMENT COMPANY LIMITED AND IREO IRISH REAL ESTATE OPPORTUNITIES FUND PLC WHICH ARE SUBSIDIARIES OF TREASURY HOLDINGS. THE INTERESTS OF MR. BARRETT IN THE CULS ARE REPRESENTED BY THE SHAREHOLDING OF IREO IRISH REAL ESTATE OPPORTUNITIES FUND PLC

16. Date issuer informed of transaction
19 DECEMBER 2007

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17 Date of grant 18. Period during which or date on which it can be exercised

19. Total amount paid (if any) for grant of the option

20. Description of shares or debentures involved (class and number)

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise

22. Total number of shares or debentures over which options held following notification

23. Any additional information

24. Name of contact and telephone number for queries
MARIA MCDERMOTT + 44 (0) 1534 753827

Name and signature of duly authorised officer of issuer responsible for making notification

MARIA MCDERMOTT, FOR AND ON BEHALF OGIER FUND ADMINISTRATION (JERSEY) LIMITED, SECRETARY AND ADMINISTRATOR


18/12/07 Real Estate Opportunities Limited

Recommended proposals to cancel the ZDP Shares and to issue in exchange New ZDP Shares in REO Securities Limited by means of a Scheme of Arrangement, to adopt new Articles of Association and to cancel the Company’s share premium account

Introduction
The Company is today announcing proposals to change the corporate structure of the Group in order to remove the current requirement that the Company be wound up in 2011. In order to facilitate this it is proposed to effect a Scheme of Arrangement (“the Scheme”) to cancel all of the ZDP Shares and to issue New ZDP Shares to ZDP Shareholders on a one for one basis. The New ZDP Shares will be issued by a wholly owned subsidiary of the Company incorporated for this purpose. The rights of the New ZDP Shares, including the right to be repaid the existing final capital entitlement in full on the ZDP Repayment Date, will be substantially the same as the rights of the existing ZDP Shares although as a result of the arrangements described in this document being implemented the New ZDP Shares would effectively rank ahead of the Ordinary Shares with regard to the revenue reserves of the Company.

The Company is also today announcing certain other proposals involving the adoption of New Articles for the Company together with a cancellation of its share premium account.
Full details of the Proposals, the risk factors and the notices of the Shareholder Meetings and the CULS Holders’ Meeting are set out in the circular to Shareholders (“Shareholder Circular”), the circular to CULS Holders (“CULS Holders’ Circular”) (together “Circulars”) and prospectus concerning REO Securities (“Prospectus”) which are being despatched to Shareholders and CULS Holders today. Terms defined in the Shareholder Circular shall have the same meaning in this announcement.

Overview of the Proposals

The Proposals envisage:
• replacing the ZDP Shares with New ZDP Shares issued by REO Securities pursuant to the Scheme;
• removing from the Articles the existing requirement to wind up the Company in 2011;
• removing from the Articles the current restriction on the Company paying dividends from the sale or other realisation of capital assets, in order to reflect the position of the Company as the holding company of a property group and to provide more flexibility regarding the payment of future dividends (subject as stated below);
• dividends being capped at 2.5 pence per share per annum until repayment of the full amount due to the New ZDP Shareholders and to the holder of the Loan Notes;
• removing the borrowing restrictions in the Articles to provide greater flexibility to the Group after May 2011; and
• cancelling the amount standing to the credit of the Company’s share premium account to eliminate negative reserves and create a distributable reserve of the balance.

The Proposals provide that the position of the ZDP Shareholders will be safeguarded by an Undertaking Agreement between REO and REO Securities. The REO Securities Articles substantially replicate the rights of the ZDP Shares as they currently exist and the Undertaking Agreement requires, amongst other things, REO to seek the approval of the New ZDP Shareholders in the same way and for substantially the same matters as currently would be the case under the Existing Articles. The Undertaking Agreement also requires REO to comply with borrowing limits to which it is currently subject. The Undertaking Agreement shall remain effective and binding on REO until expiry of the New ZDP Shares.

Background to and reasons for the Proposals

When the Company was launched in 2001 it was established with a planned winding up date in May 2011. The stated intention at that time was to put proposals to Shareholders ahead of the planned winding up date to effect a scheme of reconstruction giving both Ordinary and ZDP Shareholders the option of a full cash exit, or the option to extend their investment beyond the planned winding up date. The intention was that the Company would therefore not be required to realise its property portfolio or, thereby, to crystallise capital gains tax liabilities. The Existing Articles require either that the Company be wound up on the ZDP Repayment Date or that reconstruction proposals be proposed at that time which provide for the ZDP Shareholders to receive their final capital entitlement of 235.51p in cash on the ZDP Repayment Date.

The Scheme which is now being put forward is designed to enable the ZDP Shareholders to be repaid in full in 2011 without REO itself being wound up. This will remove uncertainty regarding the longer term future of REO, enabling it to continue to take on long term development projects in Ireland and elsewhere, which the Board believes to be in the best interests of the Ordinary Shareholders. Given the premium at which the Ordinary Shares have generally traded in recent years, the Board does not consider it necessary to provide for a cash exit for Ordinary Shareholders as those wishing to dispose of their Ordinary Shares may do so through the market.

The Scheme
The Scheme, if it is approved by Shareholders at the Meetings, CULS Holders at the CULS Holders Meeting and sanctioned by the Court, will involve the ZDP Shares being cancelled and, in exchange, the New ZDP Shares being issued to ZDP Shareholders on a one for one basis. The New ZDP Shares will be issued by a newly incorporated subsidiary of REO, REO Securities. Implementation of the Scheme will allow the New ZDP Shares to be repaid by way of the winding up of REO Securities on 31 May 2011 rather than the winding up or reconstruction of the Company itself.

The rights attached to the New ZDP Shares will be substantially similar to the rights attached to the ZDP Shares. In particular, the New ZDP Shares confer a right to receive a final capital entitlement of 235.51p per New ZDP Share (approximately £136 million in aggregate) on the winding up of REO Securities on 31 May 2011.

Pursuant to the Undertaking Agreement, conditional on the Scheme becoming effective, the assets of REO would effectively be made available to meet the entitlement of the New ZDP Shares on the ZDP Repayment Date after satisfaction of the Company’s creditors (including holders of the CULS). These assets would include any amounts standing to the credit of the Company’s revenue reserves which, under the Existing Articles, currently would be paid to Ordinary Shareholders in priority to the ZDP Shareholders on a winding up of the Company.

The Undertaking Agreement also contains further covenants from the Company to protect the interests of the New ZDP Shareholders. Further details of these arrangements and information on REO Securities and the New ZDP Shares are set out in the Shareholders Circular, the CULS Holders Circular and the Prospectus.

In the event that the Scheme is not approved by Shareholders at the Meetings or by CULS Holders at the CULS Holders Meeting or sanctioned by the Court, the Directors will, together with the Company’s advisers, review the alternative options available to the Company.
Subject to the Scheme becoming effective, the credit arising on the cancellation of the ZDP Shares pursuant to the Scheme, in the sum of £577,558, will be available as a distributable reserve.

Rights of the New ZDP Shares
The rights of the New ZDP Shares are set out in the articles of association of REO Securities. The rights of the New ZDP Shares following the implementation of the Scheme will be substantially similar to the rights of the existing ZDP Shares, taking the REO Securities Articles and the Undertaking Agreement together.

Listing
Application has been made to the UK Listing Authority for all the New ZDP Shares to be issued to be admitted to the Official List and for such shares to be admitted to trading on the main market of the London Stock Exchange. It is expected that the listing of the New ZDP Shares will become effective and that dealings in them will commence on 15 February 2008. Dealings in the ZDP Shares are expected to be suspended on that date and the listing of the ZDP Shares is expected to be cancelled 20 business days thereafter.

In order not to incur additional unnecessary expense the Board considers that it is not necessary to list the New ZDP Shares on either the Channel Islands Stock Exchange or the Irish Stock Exchange and accordingly, no such application has been made in respect of the New ZDP Shares.

Adoption of New Articles
It is proposed that, conditional upon implementation of the Scheme, REO adopts the New Articles in lieu of the Existing Articles. Shareholders should note in particular that the New Articles do not provide for a fixed winding up date for the Company.

The New Articles also make certain other changes from the Existing Articles to update them generally, to take account of the cancellation of the ZDP Shares, to reflect the recent change of the Company’s listing status from a property investment company to a property company and to reflect the Company’s position as the holding company of a property group. The principal amendments contained in the New Articles are, in summary, as follows:

• The provision entitling the Ordinary Shares to receive on a liquidation the amount standing to the credit of the Company’s revenue reserves, including the undistributed revenue profits for the then current year of the Company, has been removed in the New Articles.
The New Articles provide that all of the surplus assets of the Company (after all its liabilities) will be available for distribution to the Ordinary Shareholders upon a winding up of the Company. However, by virtue of the Undertaking Agreement, the amount due to REO Securities to fund the repayment of the ZDP Shares will be treated as a liability of the Company and therefore in effect any sum standing to the credit of the revenue reserves of the Company on the ZDP Repayment Date would, on a winding up of the Company, be available after the satisfaction of the Company’s creditors (including the holders of the CULS) to meet the final capital entitlement of the New ZDP Shares in priority to the entitlement of Ordinary Shareholders.

• The Existing Articles provide that all monies realised on the sale or other realisation of any capital assets in excess of book value and all other monies in the nature of accretion to capital will not be treated as profits available for dividend. Under the New Articles it is proposed that this restriction be removed. However, in the Undertaking Agreement, the Company covenants not to pay more than 2.5p per annum per share by way of dividend to the Ordinary Shareholders for so long as there are any New ZDP Shares in issue.

• The Existing Articles require the Company to comply with the borrowing restrictions applicable to a property investment company listed on the stock exchanges on which its shares are listed. As the Company is no longer a property investment company this provision will not be included in the New Articles. However, in the Undertaking Agreement, REO undertakes to manage the affairs of the Group so as to ensure that the borrowing limits currently applicable be observed for so long as any New ZDP shares remain in issue.

• The Existing Articles set out detailed investment restrictions on the Company consistent with the requirements of the listing rules applicable to an investment company. These investment restrictions are not included in the New Articles.

Cancellation of Share Premium Account
When the Company was launched in 2001 it invested in an income portfolio predominantly invested in split capital investment trusts and high yielding bonds. Substantial losses were incurred on these investments and as a result, as at 30 November 2007, there was a deficit of approximately £191.8 million standing to the Company’s reserves. This figure has been extracted from the Company’s unaudited accounting records.

Your Board proposes as part of the Proposals to cancel the whole amount standing to the credit of the Company’s share premium account which, as at the date of this document, is the sum of £405.7 million. The credit arising would be used to eliminate the deficit in the Company’s reserves and the balance will then be available as a distributable reserve, facilitating the payment of dividends or the repurchase of the Company’s own shares. For illustrative purposes, on the basis of the deficit standing to the Company’s reserves of £191.8 million referred to above and the share premium account as at the date of this document, a distributable reserve of £213.9 million would be created by this process. The Company intends to apply to the Court for confirmation of the cancellation of its share premium account and the creation of a distributable reserve in this manner.

The Court will need to be satisfied that the interests of the Company’s creditors will not be prejudiced as a result of the reduction and the Company will take such steps in that regard as it deems appropriate and as is required by the Court.

Subject to the sanction of the Court and the Shareholder and CULS Holder approvals referred to below, it is anticipated that the cancellation of the amount standing to the credit of the Company’s share premium account referred to above will become effective on the Effective Date. If the Scheme is not approved by the Court, or if for any other reason the Directors determine that it should not be implemented then the Directors will not proceed with the cancellation of the share premium account.

Expected Timetable

2008    
16 January 11.15 am Latest time and date for receipt of white form of proxy for the Court Meeting
16 January 11.25 am Latest time and date for receipt of pink form of proxy for the ZDP Class Meeting
16 January 11.35 am Latest time and date for receipt of green form of proxy for the Ordinary Class Meeting
16 January 11.45 am Latest time and date for receipt of blue form of proxy for the Extraordinary General Meeting
18 January 11.15 am Court Meeting
18 January 11.25 am ZDP Class Meeting
18 January 11.35 am Ordinary Class Meeting
18 January 11.45 am Extraordinary General Meeting
18 January 11.55 am CULS Holders Meeting
14 February 10.00 am Court Hearing to sanction the Scheme and confirm reduction of REO share premium account
14 February 6.00 pm Scheme Record Time
15 February   Effective Date
15 February 7.30 am Dealings in the ZDP Shares suspended
15 February 8.00 am New ZDP Shares admitted to Official List and credited to CREST accounts and dealings commence on the London Stock ExchangeZDP Shares cancelled
Week commencing 22 February   Despatch of new ZDP Share certificates


General
Full details of the Proposals, the risk factors and the notices of the Shareholder Meetings and the CULS Holders Meeting are set out in the Circulars and Prospectus which are being despatched to Shareholders and CULS Holders today. Terms used in the shareholder circular shall have the same meaning as in this announcement.

Copies of the Circulars and the Prospectus have been forwarded for publication through the UK Listing Authority and are available at:

UKLA Document Viewing Facility
The Financial Services Authority
25 The North Colonnade
Canary Wharf
London, E14 5HS
Telephone No (0207) 066 1000


11/12/07

The Board

Real Estate Opportunities Limited announces that David Moon, a director of the Company, has resigned from the Board after relocating from the Channel Islands in order to pursue his UK-based business interests.

Mr Moon has been a director of the Company since March 2001.

Ray Horney, Chairman of REO, commented:

“I would like to thank David for his contribution to the Company over the years: his wise counsel has been greatly valued and I wish him every success for the future”.


08/11/07

Result of Extraordinary General Meeting


The Directors of Real Estate Opportunities Limited (“REO” or the “Company”) announce that both the ordinary and special resolutions proposed at the Extraordinary General Meeting of the Company held in Jersey today were duly passed.

Completion of the acquisition from Treasury Holdings of the 50 per cent. of Havenview Investments Limited not already held by the Company and the acquisition from Treasury Holdings and others of a further seven investment and development properties in and around Dublin, is expected to take place on 9 November 2007 with admission of the consideration shares to the Official List of the UK Listing Authority and to trading on the London Stock Exchange. It is expected that the consideration shares will also be admitted to trading on the Irish Stock Exchange and the Channel Islands Stock Exchange.

Further details of these proposals were set out in a combined circular and prospectus sent to shareholders dated 12 October 2007.

The consideration shares, totalling 80,717,567 new ordinary shares, will rank pari passu with the existing issued ordinary shares of 1p each in the Company. The total number of ordinary shares of the Company in issue on the date of admission will be 333,791,487.


08/11/08

Voting results from the Extraordinary General Meeting held on 08 November 2007

 

Votes
in favour

Votes against

Votes at the Chairman’s discretion

Votes withheld

  Resolution One

  89,665,189

 0

  4,541

  0

  Resolution Two
237,422,559
131,008
6,683
45,070

08/11/07

A JOINT RELEASE – DROGHEDA PORT COMPANY AND CASTLE MARKET HOLDINGS A SUBSIDIARY OF REAL ESTATE OPPORTUNITES LTD (REO)

Ireland’s new deep-water Port at Bremore to proceed

Drogheda Port Company have confirmed that Castle Market Holdings Limited (“Castle Market”), a wholly owned subsidiary of Real Estate Opportunities Limited (“REO”) , is their selected JV partner in the development of Ireland’s new deep-water Port at Bremore following an open tender process. The parties have signed an Agreement which will allow the Bremore port development to proceed. The next step, the appointment of consultants to prepare the Port Master Plan, is already well underway.

REO’s business in Ireland is managed by Treasury Holdings.

Bremore Ireland Port, located between Dublin and Drogheda, is one of the most exciting infrastructure projects to be undertaken in Ireland in decades. Drogheda Port Company began the development in 2002 as a strategic response to the impending deficit in port capacity not only at Drogheda Port but also on the East Coast of Ireland. Current estimates of its total development costs are in the order of €300 million.

In recent years Ireland has experienced record levels of economic growth, which has resulted in increased freight volumes passing through the country’s East Coast ports. This rapid growth has caused congestion and highlighted the need for substantial additional capacity.

Mr Patrick Traynor, Chairman of Drogheda Port Company said, “The development of Bremore Ireland Port is hugely significant: it will free a potential bottleneck in the continuing growth of freight traffic to and from Ireland. The board of Drogheda Port is delighted with the outcome of the joint venture partner process and believes that this is a significant first step towards the development of an outstanding facility.”

Mr Paul Fleming, CEO, added “As a team we are very focused and fully committed to delivering a world class port of infrastructure at Bremore – in Castle Market we are matched by a partner bringing equal energy and considerable experience and resources to the Project.”

John Bruder, managing director of Treasury Holdings’ Irish business, commented: “Bremore has enormous development potential and we are delighted to bring Treasury Holdings’ extensive experience of complex, large scale projects to bear on what, in our view, is one of the most exciting real estate developments available in Ireland today.”


06/11/07

Directors’ Dealings
Notification Of Transactions Of Directors, Persons Discharging Managerial Responsibility Or Connected Persons


This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).
(1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.
(2) An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8,13, 14, 16, 23 and 24.
(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.
(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

Please complete all relevant boxes in block capital letters.

1. Name of the issuer
REAL ESTATE OPPORTUNITIES LIMITED (THE “COMPANY”)

2. State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.4R(1)(a); or
(ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985; or (iii) both (i) and (ii)
(ii) DIRECTOR

3. Name of person discharging managerial responsibilities/director
MR RAY Y F HORNEY

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person
TRUSTS UNDER WHICH MR HORNEY AND/OR MEMBER OF HIS FAMILY ARE BENEFICIARIES

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest
BENEFICIAL

6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares
7.5 PER CENT. CONVERTBLE UNSECURED LOAN STOCK IN THE COMPANY ISSUED PURSUANT TO A TRUST DEED DATED 20 JUNE 2001 (“CULS”).

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them
CHEVIOT CAPITAL (NOMINEES) LIMITED

8 State the nature of the transaction
PURCHASE

9. Number of shares, debentures or financial instruments relating to shares acquired
500,000 CULS

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)
0.49 PER CENT. OF CULS

11. Number of shares, debentures or financial instruments relating to shares disposed
-

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)
-

13. Price per share or value of transaction
£1.35

14. Date and place of transaction
1 NOVEMBER 2007 - LONDON

15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

  ORDINARY
1P SHARES
PERCENTAGE
OF ISSUED
CLASS
CULS £1
UNITS
PERCENTAGE
OF TOTAL
LOAN NOTES
RYF
HORNEY
8,151,192 3.2% 4,662,970 4.6%


OF THE ORDINARY SHARES IN WHICH MR HORNEY IS INTERESTED, 7,846,384 ORDINARY SHARES ARE HELD BY KLEINWORT BENSON (GUERNSEY) TRUSTEES LIMITED, 304,782 ARE HELD BY CHEVIOT CAPITAL (NOMINEES) LIMITED ACTING AS CUSTODIAN FOR ORBIS TRUSTEES LIMITED. ORBIS TRUSTEES LIMITED ACT AS TRUSTEE OF CERTAIN TRUSTS UNDER WHICH MR HORNEY AND/OR MEMBERS OF HIS FAMILY ARE BENEFICIARIES. MR HORNEY JOINTLY WITH INVESCO ASSET MANAGEMENT LIMITED HELD A FURTHER 26 ORDINARY SHARES AS NOMINEE FOR THE COMPANY.
OF MR HORNEY’S INTEREST IN THE CULS, 1,404,800 UNITS ARE HELD BY CHEVIOT CAPITAL (NOMINEES) LIMITED, 3,258,168 UNITS ARE HELD IN CERTAIN TRUSTS UNDER WHICH MR HORNEY AND/OR MEMBERS OF HIS FAMILY ARE BENEFICIARIES AND IN RESPECT OF WHICH ORBIS TRUSTEES GUERNESY LIMITED IS A TRUSTEE. MR HORNEY JOINTLY WITH INVESCO ASSET MANAGEMENT LIMITED HELD A FURTHER 2 LOAN STOCK UNITS AS NOMINEES FOR THE COMPANY.

16. Date issuer informed of transaction
6 NOVEMBER 2007

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17 Date of grant
....................................

18. Period during which or date on which it can be exercised
....................................

19. Total amount paid (if any) for grant of the option
....................................

20. Description of shares or debentures involved (class and number)
....................................

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the
time of exercise
....................................

22. Total number of shares or debentures over which options held following
notification
....................................

23. Any additional information
....................................

24. Name of contact and telephone number for queries
MARIA MCDERMOTT + 44 (0) 1534 753827

Name and signature of duly authorised officer of issuer responsible for making notification
MARIA MCDERMOTT, FOR AND ON BEHALF OGIER FUND ADMINISTRATION (JERSEY) LIMITED, SECRETARY AND ADMINISTRATOR


12/10/07 Proposed acquisition and publication of combined circular and prospectus

As described in the Company’s interim results published on 19 September 2007, Real Estate Opportunities Limited announces that it has today exchanged contracts and is publishing a combined circular and prospectus detailing the proposed acquisition of the remaining 50 per cent of Havenview Investments Limited that it does not already own and a further seven properties in Ireland. The consideration for the acquisitions will be met by the issue of 80.72 million ordinary shares in REO at a price of £1.50 per share.

The transaction is subject to shareholder approval. An Extraordinary General Meeting will be held on 8 November 2007, details of which are contained within the combined circular and prospectus.

Copies of the combined circular and prospectus have been forwarded to the UK Listing Authority, and will shortly be available for inspection at the Document Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS


28/09/07

Change of Administrator and registered address

Real Estate Opportunities Limited (“REO” or the “Company”) announces the change, effective from Monday 1 October 2007, of the Company administrator to Ogier Fund Administration (Jersey) Limited, Whiteley Chambers, Don Street, St Helier, Jersey, JE4 9WG.

Consequently the registered office of the Company will be located at:

Whiteley Chambers, Don Street, St Helier, Jersey, JE4 9WG.

Director’s declaration

In accordance with Paragraph 6.6.14 of the Listing Rules of the Irish Stock Exchange and Paragraph 9.6.14 of the Listing Rules of the UK Listing Authority, the Company advises that Mr Philip Jenkinson, a non-executive director of the Company, has been appointed to the board of Nordic Land Limited, a company listed on the AIM market of the London Stock Exchange.


19/09/07

Interim results for the six months to 30 June 2007

“I am pleased to report that the strong performance and progress your Company has made in recent years has continued during the first six months of this year. Net assets attributable to the ordinary shareholders at the period end stood at some £371 million (146.7p per share or 133.3p per share on a fully diluted basis), an increase of 37.9 per cent. from the level prevailing at the end of 2006 and 233 per cent. from the level as at 6th May 2005, the last time that the Company raised capital from the equity markets.”
“Despite interest rate rises, we remain confident in the prospects for the Irish economy in general and the Irish Real Estate market. At Battersea Power Station, by far the Company’s most significant investment in the UK, good progress has been made in preparing a new planning application and a good rapport started with key stakeholders.”
“Despite recent volatility in the market for property companies and property investment companies, the Directors remain optimistic over the future of the markets to which the Company is exposed, namely Ireland, the UK and, through its holding in CREO, China. We remain confident of the quality of the Company’s underlying portfolio and of the ability of the management team to deliver superior returns.”

Ray Horney
Charman

Further details may be found on the Financial Performance page of this website


05/09/07

TR1: Notifications of Major Interests in Shares

Please follow this link to download the document in PDF format.


20/07/07

Commencement of Remedial Works

Real Estate Opportunities Limited (“REO”) is pleased to confirm that following an in-depth survey by structural engineers Buro Happold, remedial works will commence shortly at Battersea Power Station. The purpose of these works is to reduce the deterioration of the fabric and improve the health and safety in and around the building. The initial scope will focus on roof and drainage repairs, including the removal of debris, clearing of gutters and repairs to the waterproofing (prior to the onset of winter). Following further investigations, additional programmes of remedial works will follow. Szerelmey has been nominated by Treasury Holdings as contractor to carry out the works, which are anticipated to take approximately 3 months to complete. Rob Davies, Development Director for Treasury Holdings, REO’s development manager, commented: “This is an important step in protecting the Power Station from further degradation. The building has been exposed to the elements for over 20 years and long-needed work is to be carried out to make the site secure and viable prior to the programme of redevelopment.” “Together with the recent appointment of the core technical team, the commencement of remedial works demonstrates REO’S commitment to safeguarding the future of the Power Station and we look forward developing a masterplan suitable for such an iconic site.”


18/07/07

Battersea Power Station; Core technical team appointed

Real Estate Opportunities Limited (“REO”) announces the appointment of the core technical team to augment Rafael Viñoly Architects PC as masterplanners to the development of Battersea Power Station. The core technical team are:

• Structural Engineers: Buro Happold
• Mechanical and Electrical Engineering: Roger Preston & Partners
• Transport: Stear Davis Gleave
• Cost consultancy: Davis Langdon
• Landscape and Public Realm: Hylands Edgar Driver
• Sustainability: Battle McCarthy
• Planning: DB9

Rob Davies, Development Director for Treasury Holdings, REO’s development manager, commented: “The team has been recruited both from those, such as Buro Happold, who have previous experience of the project and a thorough understanding of the challenges faced, and those new to the Project but with fresh and innovative ideas. All have experience of complex regeneration projects in Greater London. Sustainability is at the centre of our approach to the site, hence the appointment of Battle McCarthy as a member of the core team. Our intention is to ensure that the revised masterplan, once in place, can be developed both as quickly and as thoroughly as possible. The team are already working and we expect to be in a position to consult on our specific design intentions early in the New Year.”


 

09/07/09 Update re China Real Estate Opportunities Limited

Further to its announcement of 1 June 2007, the Directors of Real Estate Opportunities Limited (“REO”) are delighted to report that China Real Estate Opportunities Limited (“CREO”) has successfully concluded its fundraising of £259 million. On admission to AIM, which is expected to take place on 11 July 2007, CREO will have a total of 53 million ordinary shares in issue.

On admission:

- based on the issue price of the CREO shares of £7.56 per share, there will be an enhancement to REO’s net assets of £40 million, equivalent to 15.8 pence per REO ordinary share or 11.3 pence per REO ordinary share on a diluted basis.

- the sale by REO to CREO of the Treasury Building, Shanghai for an aggregate consideration of £16.1 million together with debt of £20.8 million to be satisfied by the issue of 2,132,941 new ordinary shares in CREO will be completed;

- REO’s aggregate holding of CREO shares will amount to 8,388,941 ordinary shares representing 15.9 per cent. of the enlarged issued share capital of CREO. REO intends to hold these shares as a long term investment.

Further information on CREO is contained on its website www.chinareo.com.


09/07/07 Possible fund-raising
The Board of REO wishes to announce that it is considering the possibility of a significant transaction under which certain properties will be acquired from Treasury Holdings for consideration in new ordinary shares and a corresponding placing of new ordinary shares will be undertaken with third party investors to raise cash to pursue its property development programme. It is expected that the shareholding of Treasury Holdings in the Company will not change materially as a result. A further announcement on this is expected to be made in the coming weeks.



13/06/07

Annual General Meeting Results

Following the Annual General Meeting held on Tuesday, 5 June 2007 we are
pleased to announce that all resolutions put to shareholders were passed.


01/06/07

Proposed fund raising by China Real Estate Opportunities Limited

The Board of Directors of Real Estate Opportunities Limited has been informed by China Real Estate Opportunities Limited (CREO) that it has conditionally agreed to acquire a portfolio of Chinese investment and development properties valued at over £500 million. In order to fund these acquisitions CREO is seeking to raise up to £260 million of equity capital and a marketing “roadshow” by CREO commences on 4th June.

REO holds some 26% per cent. of the existing shares of CREO. REO is also proposing, subject to shareholder approval, to sell an asset to CREO at a small profit to its acquisition cost. If the sale of that asset proceeds and the CREO fund raising is fully subscribed at £260 million on the terms proposed, the overall impact on REO will be an enhancement to its net assets of up to £40 million, equivalent to 15.8 pence per ordinary share or 11.3 pence per ordinary share on a diluted basis.

The fund raising by CREO, scheduled to be completed in July, is not underwritten so there is no certainty that it will proceed.

Further announcements will be made as appropriate.


16/05/07 Announcement of UBS settlement

The Board of Directors of Real Estate Opportunities Limited ("REO") is pleased to announce that it has today reached a settlement with UBS Limited ("UBS") in relation to all claims against UBS arising from the launch of REO.

The settlement follows on from the settlement between REO and Aberdeen announced on 16 March 2007 whereby there was an enhancement to net assets (as at 30 June 2006) of some £49.7 million.

The settlement with UBS provides for an immediate cash payment to be made to REO by UBS.

The net effect on REO of the settlement with UBS, providing for costs as appropriate, is an enhancement to net assets (as at 31 December 2006) of some £6.3 million.

The terms of the settlement remain confidential.

Claims by Treasury Holdings against UBS arising from the launch of REO have also been settled for an undisclosed sum. Treasury Holdings holds the majority of REO's ordinary shares.


17/04/07

Preliminary Annoucement of the Annual Report and Accounts for the year ended 31st December 2006

Please click here to read the Preliminary Announcement.


11/04/07

Announement of preliminary results

The Board of Real Estate Opportunities Limited intends to announce the Company’s preliminary results for the year to 31 December 2006 on Tuesday 17th April 2007.


04/04/07 Masterplanner Appointed For Battersea Power Station Site

Real Estate Opportunities Limited (“REO”) announces that Rafael Viñoly Architects PC (“Viñoly”) has been appointed masterplanner to the Battersea Power Station Site (“the Site”). The appointment follows a detailed selection process during which a shortlist of world renowned architects were asked to present approaches to working with Treasury Holdings and REO to replan the site.

REO completed the purchase of the 38 acre site in December 2006. In February the Company determined that the current masterplan did not fully respond to contemporary market conditions, nor did it optimise the site’s potential. Rafael Viñoly has now been charged with developing a masterplan aimed at ensuring that the site becomes an intrinsic, sustainable district of London, in keeping with its immediate surroundings.

Ray Horney, Chairman of REO, said:
"Viñoly is an internationally acclaimed architect who has proven time after time that he is capable of devising creative and responsive architectural solutions that maximise the potential of challenging sites. We believe that his future masterplan for Battersea will ultimately result in a successful development for local residents, for Londoners and visitors to London which will complement the Power Station building itself while preserving its iconic status.”

Rob Davies, Development Director for Treasury Holdings, REO’s development manager, added:
“Viñoly very much impressed us with a series of flexible and pragmatic approaches that emphasised the site’s potential as a mixed use development capable of supporting a range of activities such as residential, offices, shopping and leisure. Our belief is that the site needs, and is capable of, increased density that is tied into its locality and is supported by significant improvements to the transport infrastructure. We have started the process of engaging with the local and regional planners and other interested stakeholders and we look forward to a full and open consultation process.”

Rafael Viñoly commented:
“Bringing back to a new life this spectacular building is one of the most exciting prospects for the future of London. The potential of revitalizing this area of town in a sensible and well balanced manner is perhaps the most exciting job we have ever hoped to be involved in.”


28/03/07

Appointment of additional director

Real Estate Opportunities Limited announces the appointment of Guy Leech as an additional non-executive director of the Company with immediate effect

Mr Leech, who has more than twenty years of experience in the property sector, has been closely involved with REO since 2003 when he became Group Finance Director of Treasury Holdings. He was instrumental in initiating and executing the bond refinancing put in place early last year and in managing through to completion the recent acquisition of Battersea Power Station and adjoining land. Before joining Treasury Holdings in 1998 Guy was at GE Capital Real Estate in London.

Current non-executive positions in other publicly quoted companies:
None

Previous positions:
Non-executive director of China Real Estate Opportunities S.A. (2005-2007)

In connection with this appointment the Company confirms that there are no other details to be disclosed under Listing Rule 9.6.13R.

In accordance with that rule and Listing Rule 9.6.14 the Company also announces that Martin Richardson, a director of the Company, has been appointed as a non-executive director of Cambium Global Timberland Limited which was floated on AIM in March 2007.


16/03/07

Announcement of Aberdeen settlement

The Board of Directors of Real Estate Opportunities Limited ("REO") is pleased to announce that it has today reached a settlement with Aberdeen Asset Management ("Aberdeen") in relation to all claims against Aberdeen arising from the launch of REO and the subsequent management by Aberdeen of REO’s income portfolio. REO is continuing with related claims against UBS.

The settlement with Aberdeen provides for an immediate cash payment to be made to REO by Aberdeen and a further cash payment to be made in January 2008. In addition, Aberdeen has agreed to discontinue its counterclaim against REO for unpaid management fees.

The net effect of the settlement on REO after taking full account of the immediate and deferred cash payments, providing for costs as appropriate and releasing such provisions as have been made in respect of the Aberdeen counterclaim, is an enhancement to net assets (as at 30 June 2006) of some £49.7 million. This equates to an enhancement of 19.6 pence per ordinary share or, taking account of dilution by REO’s convertible unsecured loan stock, 14 pence per ordinary share.

The detailed terms of the settlement remain confidential. Claims by Treasury Holdings against Aberdeen arising from the launch of REO have also been settled for an undisclosed sum. Treasury Holdings holds the majority of REO’s ordinary shares.


05/02/07

Battersea Power Station

The Board of Real Estate Opportunities Limited (“REO”) can confirm that it has decided to select and appoint a new masterplanner of world class stature to review the existing masterplan proposals and make recommendations as to the changes and improvements that are needed. An architectural selection process is currently underway, at the conclusion of which a new masterplanner will be selected. Further consultants to the project covering topics such as transport, infrastructure and heritage are also expected to be appointed very soon.

REO completed the purchase of the 38 acre site on 29 December 2006.

REO intends to move quickly to make these appointments with a view to getting development underway as soon as practicable.

Rob Davies, Development Director for Treasury Holdings, REO’s development manager, said:
“REO has concluded that the current masterplan for the site does not fully respond to today’s market conditions, nor optimise the potential of the site. We recognize that there is a widespread desire and interest to see progress happen on this site as soon as possible. We fully support and endorse that viewpoint and we are moving forward rapidly.”
“REO wants to get a clear picture of all of the key stakeholders’ views on the future of this site: we will be consulting with Wandsworth Borough Council, local interest groups and the relevant political and administrative bodies to understand their positions. Until this consultation process is complete and a new masterplanner is in situ REO will not be in position to comment on its plans further.”


03/01/07

Value of Investments

Real Estate Opportunities Ltd announces that, as at 31 December 2006, its top ten investments were as follows:

Investments of 5% and over, of total assets
Battersea Power Station & Lands
Stillorgan Shopping Centre, Stillorgan, Dublin
Blocks A-D Russell Court, Dublin 240-42 Mespil Road, Dublin 4
Central Park, Leopardstown, Co Dublin (25% interest)
Barrow Street, Co Dublin

Investments under 5%, of total assets
Baggot Building, Upper Baggot Street, Dublin 2
Balbriggan, Co Dublin Leisureplex, Stillorgan, Dublin
Collinstown, Co Kildare

This information is based on the most recent available information, as at 31 December 2006.

This announcement is made in accordance with Paragraph 15.4.11 of the Listing Rules.


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