Completion of Restructuring

Further to its previous announcements on 6 and 10 May, the Company hereby confirms that admission of 111,336,153 ordinary shares of no par value in connection with the Restructuring has taken place and that the Restructuring has become effective.

The listings of both the Company’s 7.5% Convertible Unsecured Loan Stock (“CULS”) and Zero Dividend Preference Shares (“ZDPs”) on the Official List (standard category) have also been cancelled.

Full details of the Restructuring are contained in Circulars posted to Ordinary Shareholders and CULS and ZDP holders prior to the extraordinary general meetings held on 5 May, and are available on the Company’s website at www.realestateopportunities.co.uk.

Ray Horney, Chairman, commented:

“We are very pleased to announce that the Restructuring process, which commenced in May 2010, has now been successfully implemented. The conclusion of this process is yet another step towards realising our plans for the development of Battersea Power Station."

Completion of Restructuring

Further to its previous announcement on 6 May, Real Estate Opportunities plc (the "Company") confirms that admission of up to 111,336,528 ordinary shares of no par value issued in connection with the Restructuring is expected to take place at 8am on 12 May 2011, whereupon the Restructuring process will become effective.

The listings of both the Company’s 7.5% Convertible Unsecured Loan Stock and Zero Dividend Preference Shares on the Official List (standard category) will be cancelled on this date.

Publication of Prospectus

Real Estate Opportunities plc (the "Company") has today published a prospectus approved by the UK Listing Authority in relation to the issue and admission to the Official List (standard category) of up to 111,336,528 new ordinary shares, being issued in connection with the restructuring of its 7.5% Convertible Unsecured Loan Stock and Zero Dividend Preference Shares.

A copy of the prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do. Copies of the prospectus are also available in electronic form on the Company's website at www.realestateopportunities.co.uk.

  Please follow this link to download the Prospectus as a PDF

Result of Extraordinary General Meeting and Meeting of the CULS Holders

The Board of Real Estate Opportunities plc (“REO” or the “Company”) is pleased to announce that the resolution put to shareholders at the Extraordinary General Meeting held earlier today was passed, with proxies having been received in advance of the EGM amounting to 272,208,312 ordinary shares in favour of the resolution and 5,000 ordinary shares against.

The Board would also like to announce that the resolution put to a Meeting of the CULS Holders held earlier today was passed, with proxies having been received in advance of the Meeting amounting to 75,394,412 CULS in favour of the resolution and 2,400,000 CULS against.

The passing of these resolutions, together with the passing of a resolution put to ZDP shareholders of REO Securities Limited at a meeting held earlier today, will facilitate the restructuring of the Company, details of which can be found in the circulars to Ordinary Shareholders and CULS Holders dated 11 April 2011.

Ray Horney, Chairman, commented

“The successful outcome of these meetings demonstrates the support of the Ordinary Shareholders and CULS Holders in the implementation of the Company’s restructuring. On behalf of the Board, I would like to thank them for this support and we look forward to the future success of the Company.”

Circulars and Notice of Extraordinary General Meetings

Further to the Company’s previous announcement on 24 December 2010 regarding the status of negotiations on the Company’s balance sheet restructuring, the Company announces that it is today releasiing circulars and notices of extraordinary general meetings.

Please click the titles of these documents to view and download as PDF files.

Real Estate Opportunities Plc
Amendments to the Memorandum and Articles of Association
and Notice of Extraordinary General Meeting

Real Estate Opportunities Plc
Form of Proxy

Real Estate Opportunities Plc
7.5% convertible unsecured loan stock 2011 (‘‘CULS’’)
Proposals for standstill, waiver, cancellation of conversion right and debt for equity swap
and Notice of Meeting of CULS Holders

Real Estate Opportunities Plc
7.5% convertible unsecured loan stock 2011 (‘‘CULS’’)
Form of Proxy

Posting of Circulars and Notice of Extraordinary General Meetings

Further to the Company’s previous announcement on 24 December 2010 regarding the status of negotiations on the Company’s balance sheet restructuring, the Company announces that it is today despatching circulars and notices of extraordinary general meetings (together, the “Circulars”) to Ordinary Shareholders and to holders of the 7.5% convertible unsecured loan stock (“CULS”) and zero dividend preference shares (“ZDPs”). Capitalised terms used in this announcement shall, unless the context requires otherwise, bear the meanings given to them in the Circulars.

The Circulars to holders of CULS and ZDPs contain a description of the proposed Restructuring, which is subject to approval at the extraordinary general meetings and certain procedural conditions precedent being satisfied, and can be summarised as follows:

• Battersea Power Station, related bank loans, the Company’s obligations under the Oriental Loan Notes and other related assets and liabilities will be transferred to a new holding company, BPSSV, or one of its subsidiaries;
• the REO Group's liability to pay CULS Holders an aggregate of £100.9 million of principal and £9.5 million of accrued interest as at 31 May 2011 (including interest not paid on 31 August 2010 and 28 February 2011) will be satisfied by effecting a debt for equity swap pursuant to which CULS Holders will be issued with approximately 70.8 million REO Shares (in aggregate representing approximately 15.9 per cent. of the Company's enlarged ordinary share capital immediately following completion), approximately 212 million BPSSV Shares (representing approximately 21.2 per cent. of BPSSV's share capital immediately following completion) and BPSSV Warrants in respect of approximately 159 million BPSSV shares (representing approximately 12.2 per cent. of BPSSV's share capital on a fully diluted basis);
• the Group's liability to pay the holders of the ZDP Shares an aggregate of £136 million by way of capital on 31 May 2011 will be satisfied by effecting a debt for equity swap pursuant to which ZDP Holders will be issued with approximately 40.5 million REO Shares (representing approximately 9.1 per cent. of the Company's enlarged ordinary share capital immediately following completion), approximately 121 million BPSSV Shares (representing approximately 12.1 per cent. of BPSSV's share capital immediately following completion) and BPSSV Warrants in respect of approximately 91 million BPSSV shares (representing approximately 7 per cent. of BPSSV's share capital on a fully diluted basis);
• the debt due by companies within the Battersea Group to other companies in the wider Group (amounting to £208 million as at 31 August 2010) will be satisfied by effecting debt for equity swaps, as a result of which BPSSV Shares representing a total of approximately 54 per cent. of BPSSV’s issued share capital immediately following completion will be issued to companies in the Group;
• Treasury Holdings will, by way of a management incentive fee, be issued with approximately 77 million BPSSV Shares (representing approximately 7.7 per cent. of BPSSV's issued share capital immediately following completion) and BPSSV Warrants in respect of 25 million BPSSV shares (representing approximately 1.9 per cent. of BPSSV's share capital on a fully diluted basis);
• the Company will be issued approximately 50 million BPSSV Shares (representing approximately 5 per cent. of PSSV's issued share capital immediately following completion) and BPSSV Warrants in respect of
  approximately 25 million BPSSV shares (representing approximately 1.9 per cent. of BPSSV's share capital on a fully diluted basis). The Company will distribute these BPSSV Shares and BPSSV Warrants in specie to Shareholders (including Treasury Holdings) subject to the Company passing a resolution to amend its articles of association to permit distributions in specie;
• Oriental has agreed to a standstill arrangement with the Company whereby Oriental has agreed not to take enforcement action in relation to the non-payment of interest and other covenant breaches under the Loan Notes until 31 August 2011 or earlier if the standstill arrangement is terminated. Oriental has also agreed to release the Company from its obligations under the Loan Notes on terms that a subsidiary of BPSSV assumes liability to repay the debt. It has also been agreed that, if the Senior Lenders agree to defer the date for repayment under the Battersea Power Station Facility Agreements beyond 31 August 2011, Oriental will also defer the date for repayment of the Loan Notes accordingly. Oriental will be entitled to a forbearance fee of £4.5 million in consideration for entering into the standstill agreement payable on 31 August 2011 or such later repayment date if the Battersea Power Station Facility Agreements are extended;
• the Company will be released from its guarantees of the Battersea Power Station Facility Agreements (under which the aggregate liability (including forbearance fees and interest rate swaps) at completion of the Restructuring is expected to be approximately £300 million) and will be provided with the necessary Senior Lender consents to implement the Restructuring; and
• the Company will be granted forbearance by NAMA under which, for a 12 month period following Completion, NAMA will agree not to call under the guarantee provided by the Company in relation to a Euro 95 million facility advanced in relation to certain of the Group's assets in Ireland.

The Company has received irrevocable undertakings to vote in favour of the Restructuring at the upcoming extraordinary general meetings from 60% of CULS holders and 58% of the holders of ZDP shares respectively.

The Restructuring also has the support of the Company’s directors and Treasury Holdings, who together hold 67.4 per cent of the ordinary shares.

The previous announcement on 24 December 2010 stated that, if its £150 million loan note and accrued interest is not repaid on 31 May 2011, Oriental Property Limited would, subject to certain exceptions, have the option to convert the debt into 75% of the equity in the new Battersea Power Station holding company. Also, shareholders in the new holding company would have the right to acquire that interest prior to 1 June 2012 for an amount equal to the sum due to Oriental Property Limited under the loan note together with interest – both of these provisions are no longer applicable.

The Circulars to holders of CULS and ZDPs also contain a summary valuation report prepared by King Sturge as of 31 December 2010 for the Battersea Power Station property. This shows a valuation of £498 million, assuming planning permission is received.

The Circular to shareholders contains notice of an extraordinary general meeting convened to approve amendments to the Memorandum and Articles of Association to allow the Company to effect distributions in specie, to introduce shareholders’ preemption rights and to convert the Company into a no par value company.

If the Restructuring becomes effective, it is expected that the listings of the CULS and ZDPs on the Official List (standard category) will be cancelled on the Effective Date, expected to be 12 May 2011.

A copy of each Circular and related forms of proxy have been submitted to the National Storage Mechanism and will be available for inspection shortly at www.hemscott.com/nsm.do.

A copy of each Circular will also shortly be made available on the Company’s website at www.realestateopportunities.co.uk.

REO completes sale of Montevetro building to Google for €99.9m

Further to its announcement on 17 February 2011, Real Estate Opportunities plc, the real estate investment and development group active in Ireland and the UK, is pleased to announce that it has completed the sale of Montevetro, Dublin’s tallest commercial office building, to Google for €99.9million, to be satisfied in cash.

Discussions between the Company’s investment adviser, Treasury Holdings, and Google began in early 2010 about Google taking a lease of the building, but developed into discussions for an outright sale late last year.

REO’s development of the landmark 15-storey building, which commenced in March 2008 and completed in January 2011, comprises 210,000 sqft of prime office space in Grand Canal Dock, Dublin 2. The three basement levels provide 80 car parking spaces and extensive additional bicycle and motor cycle spaces. The building, which reaches 67 metres, offers easy access to St Stephen’s Green, Baggot Street, the IFSC and Spencer Dock. It also offers unrivalled connectivity to national infrastructure with an integrated DART line which connects with Connolly Station.

Cancellation of listings of ordinary shares and 7.5% convertible unsecured loan stock 2011 on the Irish Stock Exchange and the Channel Islands Stock Exchange.

Real Estate Opportunities plc (the "Company") has applied to the Irish Stock Exchange (the "ISE") and the Channel Islands Stock Exchange (the "CISX") to cancel the Company's listings of ordinary shares (ISIN: GB0030364995) ("Ordinary Shares") and 7.5% convertible unsecured loan stock 2011 (ISIN: GB0030365182) ("CULS") on the Official Lists of the ISE and CISX and of their trading on the ISE and CISX respectively. Application has been made for the Ordinary Shares and CULS of the Company to be removed from the Official Lists of the ISE and CISX with effect from 16 March 2011.
The Ordinary Shares and CULS will remain listed (standard category) on the Official List of the UK Financial Services Authority and will continue to trade on the main market of the London Stock Exchange plc.

REO agrees sale of Montevetro building to Google for €99.9m

Real Estate Opportunities plc, the real estate investment and development group active in Ireland and the UK, is pleased to announce that it has agreed the sale of Montevetro, Dublin’s tallest commercial office building, to Google for €99.9million, to be satisfied in cash. Completion of the transaction is expected in the near future.

Discussions between the Company’s investment adviser, Treasury Holdings, and Google began in early 2010 about Google taking a lease of the building but late last year developed into discussions for an outright sale.

REO’s development of the landmark 15-storey building, which commenced in March 2008 and completed in January 2011, comprises 210,000 sqft of prime office space in Grand Canal Dock, Dublin 2. The three basement levels provide 80 car parking spaces and extensive additional bicycle and motor cycle spaces. The building, which reaches 67 metres, offers easy access to St Stephen’s Green, Baggot Street, the IFSC and Spencer Dock. It also offers unrivalled connectivity to national infrastructure with an integrated DART line which connects with Connolly Station.

Commenting, REO Chairman, Ray Horney said:

“We are very pleased to be able to announce Google’s purchase of Montevetro, Dublin’s tallest commercial office building. REO’s stated strategy is to develop high quality, commercial real estate in well located areas.
“The transaction is one of the largest sales of commercial property in Ireland in several years and the company believes it has achieved a very good price in the current market environment. Google is an iconic name globally and its decision to buy Montevetro is good news for Ireland and we wish them every success in their new home.”

REO is also pleased to announce that the international oil and gas exploration company Tullow Oil plc is to lease a total of 48,000 sq ft in the Central Park development in Leopardstown, Dublin. A member of the FTSE 100 index, Tullow Oil will be located in Number One, Central Park, the newly completed, state of the art office block.

Central Park is the prime suburban development of REO which is home to a range of blue chip clients including Vodafone, Volkswagen Bank, Lease Plan and Merrill Lynch. This doubling in size of the Tullow Oil facility, along with the recent opening of the LUAS Green line extension to provide easy access to the city centre, further cements the location’s importance in providing high quality accommodation for blue chip corporates.

Tullow Oil is to relocate to a new headquarters at Central Park in Leopardstown, Co Dubli

It has agreed to lease 4,450sq m (47,899sq ft) in the newly completed Number One Central Park, making it the largest single letting in the south of the city over the past 12 months.

Although letting agents had been seeking rents of around €269 per sq m (€25 per sq ft) for space in the latest eight-storey block, the weak office rental market has probably allowed Tullow to negotiate a rate of about €193 per sq m (€18 per sq ft).

Tullow has effectively doubled the size of its offices, moving from an older block in the park which was originally funded by Treasury Holdings, Derek Quinlan and David Arnold. Central Park is now controlled by Real Estate Opportunities plc, whose investment manager is Treasury Holdings. Other tenants in the park include Vodafone, Volkswagen Bank, Merrill Lynch and Lease Plan.

The recent opening of the Luas Green Line extension with an integrated stop in Central Park will make the campus more accessible for workers residing either in the city centre or in south Dublin. Central Park does not suffer from as much traffic congestion at peak hours like nearby Sandyford Industrial Estate,

Derek Dolan of Treasury Holdings said they had proceeded with the development of the latest block in the depths of the downturn in the knowledge that "it had its fundamentals right". The Tullow deal secured 25 per cent occupancy in the block and they were confident this will be followed by further lettings.

Overall there is 90 per cent occupancy in Central Park, reinforcing the location as a strategic place of employment in south Dublin.

Eugene Heavey of Tullow Oil said continued growth and expansion had necessitated additional office space and the Number One building meets their needs perfectly both in terms of location and specification. The building has a total floor area of 18,208sq m (195,989sq ft) and it comes with raised access floors, suspended ceilings with modular recessed lighting and air conditioning.

James Nugent of Lisney advised Treasury Holdings and Declan O'Reilly from HT Meagher O'Reilly acted for Tullow Oil.

Secretary of State for Communities and Local Government approves
Battersea Power Station planning application

This marks the final decision in the planning application process, with development of the site now due to
commence in 2012

Treasury Holdings is delighted to welcome the approval of The Rt Hon Eric Pickles MP, Secretary of State for Communities and Local Government, for the planning application for the Battersea Power Station site. His decision follows that of the Mayor of London Boris Johnson in December 2010, one month after Wandsworth Council approved the scheme. This marks the final decision in the planning application process, with development of the site now due to commence in 2012.

The development, which will be the largest ever in Central London, will create a vibrant new community just one mile from Westminster, and serve as a catalyst for the regeneration of the Nine Elms Opportunity Area. The scheme is expected to generate approximately 15,000 new jobs and training opportunities for the area, and will also include a new underground station on the proposed extension of the Northern Line from Kennington to Nine Elms and Battersea.

Rob Tincknell, Managing Director of Treasury Holdings, said:

“We are delighted to have received final approval for the scheme and would like to thank the local community, Wandsworth Council, the Mayor of London, and the Secretary of State for their support and valuable engagement throughout the process. Following productive talks with a number of potential investors, we now look forward to bringing an investment partner on board and commencing with the development of the site and the regeneration of the power station.”

Result of Extraordinary General Meeting

The Board of Real Estate Opportunities plc announces that the resolution put to shareholders at the Extraordinary General Meeting held earlier today was passed, with proxies having been received in advance of the EGM amounting to 280,524,748 ordinary shares in favour of the resolution and 2,400,735 ordinary shares against.
In accordance with the timetable set out in the circular sent to the shareholders on 30 December 2010, the listing category of the Company on the Official List is expected to be transferred from a premium listing to a standard listing with effect from 8.00 a.m. on 17 February 2011.

Resolution one

Donnybrook Fair for Stillorgan

Donnybrook Fair for Stillorgan A LEADING food company, Donnybrook Fair, is to open a large outlet at Stillorgan Shopping Centre in south Dublin. It will be the seventh new trader to move into the centre in the past year.

The company is understood to have agreed an initial rent of around €250,000 for the 371sq m (4,000sq ft) store which will be formed through the amalgamation of three shops.

It will be fourth Donnybrook Fair outlet along with the main shop on Morehampton Road in Donnybrook, Dublin 4 and others in Baggot Street and Greystones.

A staff of 30 will be involved in the new store which is to open in April.

Joe Doyie of Donnybrook Fair said that Finding the right location was important to the company and they believed Stillorgan was an ideal venue for new and existing customers.

The highly rated trader recently won the main award for the "best extra large store" in a competition organised by Retail Excellence Ire land.

The company employs over 180 people including a team of in-house chefs who produce high quality, fresh, home-made food.

The business has had considerable success in recent years.

The decision by Donnybrook Fair to open in Stillorgan will pro vide a welcome boost for the shopping centre and for owners Treasury Holdings who are shortly to begin discussions with Dun Laoghaire Rathdown County Council on the redevelopment of the centre.

The recently approved local area plan for Stillorgan sets down new guidelines and envisages a retail complex of up to 23,225sq m (250,000sq ft). Treasury has greatly enlarged the overall site in recent years after acquiring Blakes restaurant, Leisureplex and the overflow car-park. The redeveloped centre will include more large shop units to appeal to local and overseas traders.

Niall Kavanagh, director of real estate and development with Treasury, says that the well-established nature of the centre, its con- sistent footfall, affluent south Dublin location, free parking and proximity to the Nil have all helped it to attract new tenants in a difficult retail climate.

Recent arrivals have included Pamela Scott, Miranda Perry,Bags in the City, Golden Spi-derweb, Foot Solutions and interior accessories store Gazebo.

Michael Harrington of agent HWBC, who handled the Donnybrook Fair deal, is currently marketing three shops in the centre ranging in size from 139-343sq m(l,500-3,700sq ft).

Interim Management Statement

Real Estate Opportunities plc (“REO” or “the Group”), the real estate investment and development group active in the UK and Ireland today issues its Interim Management Statement covering the period from 30 October to the date of this announcement.

Highlights:

• Battersea Power Station Planning Application approved by Mayor of London and Wandsworth Council
• Significant interest from prospective investors in Battersea Power Station during the global investment roadshow
• Terms of Balance Sheet Restructuring announced on 24 December 2010
• Memorandum of Understanding signed with NAMA on Group business plan
• Continued strong operational performance with occupancy levels at 95% and rent weighted average lease length of 12 years

Ray Horney, Chairman of REO, said: “We are pleased with the progress we have made in recent months.  The planning application for BPS is progressing well, while we are also making good progress towards balance sheet restructuring.  We look forward to updating the market on further progress in due course.”

Battersea Power Station: As previously announced, Wandsworth Council and the Mayor of London have both now approved the Group’s planning application for the Battersea Power Station site. The application is currently being considered by the Secretary of State for Communities and Local Government, with a decision anticipated in the near future.

The approvals above represent a major step towards realising the Group’s vision for the scheme, which has garnered significant support from various stakeholders including the Greater London Authority, English Heritage, the Commission for Architecture and the Built Environment (CABE) and most importantly, the local community.

It has always been the Group’s development strategy to partner with a new investor, and we have already attracted significant interest from a range of prospective investors.

Construction on Phase 1 of the development is scheduled to commence in early 2012 with completion in 2016. The remaining phases, including the first ever privately funded extension to the tube network in Central London, are scheduled for completion thereafter.

Balance Sheet Restructuring: As announced on 24 December 2010, the Group’s negotiations with its creditors regarding the terms of a financial restructuring are progressing well. Subject to approval from the various creditor groups, the detailed terms of the restructuring deal are as follows:

• Battersea Power Station would be transferred by REO to a new holding company. The demerger of Battersea Power Station is intended to facilitate the successful conclusion of the Group’s global third party investment road show through which it is seeking to attract a long term equity partner into the demerged vehicle.
• The Group would effect debt for equity swaps with the holders of the 7.5% convertible unsecured loan stock ("CULS") and zero dividend preference shares ("ZDPs"). CULS holders would receive 21.2% of the equity in the new Battersea Power Station holding company and 15.9% of the enlarged equity of REO. ZDP holders would receive 12.1% of the equity in the new holding company and 9.1% of the enlarged equity of REO. In addition, CULS and ZDP holders would be issued with warrants representing 15.9% and 9.1% respectively of the initial issued share capital of the new holding company. Each warrant would entitle the holder to subscribe for one new ordinary share at an exercise price of 0.001p at any time for up to 15 years after the completion of the restructuring if the equity in the new holding company has a value in excess of £510 million.
• Ordinary shareholders (including Treasury Holdings) would receive 5% of the equity in the new holding company and warrants in respect of a further 5% and would, after the issue of ordinary shares to CULS and ZDP holders, retain 75% of the enlarged equity of REO.
• As an incentive to manage the development of Battersea Power Station, Treasury Holdings would be awarded a management fee representing 7.7% of the equity in the new holding company.
• The remaining equity in the new holding company, amounting to approximately 54%, would be retained by REO and its subsidiaries following the equitisation of various intercompany balances owed by companies in the Battersea Power Station group.
• REO would be released from various financial obligations relating to the Battersea Power Station group, including guarantees of senior facilities and the £150 million loan note issued to Oriental Property Limited.
• If the £150 million loan note and accrued interest is not repaid on 31 May 2011, Oriental Property Limited would, subject to certain exceptions, have the option to convert the debt into 75% of the equity in the new Battersea Power Station holding company. Shareholders in the new holding company would have the right to acquire that interest prior to 1 June 2012 for an amount equal to the sum due to Oriental Property Limited under the loan note together with interest.

NAMA: As previously indicated, the Group submitted a comprehensive business plan in May 2010 for NAMA’s review. The initial evaluation process is now complete resulting in a signed Memorandum of Understanding, the terms of which are non-binding and intended to form the basis for further negotiations. NAMA will monitor the Group’s subsequent performance to ensure that it adheres to targets contained in the Memorandum of Understanding and, subject to the further negotiations referred to above, binding facility agreements will be entered into.

Property Portfolio: The portfolio was last valued in August 2010, by Treasury Holdings, in their capacity as investment advisers, at a value of €1,050 million.

The Group continues to place a strong emphasis on proactive management of the portfolio and tenant monitoring, resulting in stable annualised income of €40.2million, during a period of rental value deflation. Continuing strong operational performance is underpinned by prime office and retail locations, together with the diversity represented by high quality tenants including Vodafone, Merrill Lynch, KPMG and Marks & Spencer, which account for over 63% of the portfolio based on rental income.

Despite current market conditions, portfolio occupancy remains at 95%, with only 4% of rent roll in arrears, and a rent weighted average lease length of 12 years.

The Group’s only current development project (Montevetro, Dublin 4) is due for practical completion at the end of January 2011, with strong interest from the market in the building, while a prudent approach to the timing of its remaining development pipeline continues to be adopted.

Outlook:

The Board is encouraged by the significant progress made in recent months in respect of the planning permission granted for the Battersea Power Station project and the signing of the Memorandum of Understanding with NAMA on the Group’s business plan, while negotiations towards a successful restructuring of the Group’s balance sheet have reached an advanced stage.

While the Group’s performance continues to be adversely impacted by continuing concerns about the underlying Irish economic performance, the recent agreement between the Irish Government and the IMF/EU should assist in stabilising the banking sector, thus enhancing capital adequacy and liquidity of the banks. There are also continuing signs that the commercial property market is stabilising.
 
Based on the above, in conjunction with the Group’s quality portfolio and strength of senior management, the Board remains confident that the Group is positioned to benefit from predicted stability and growth in the wider Irish and UK economies.

1 CBRE, Bi-Monthly Research Report, November 2010

Posting of Circular and Notice of Extraordinary General Meeting

The Company announces that it is today despatching to shareholders a circular and notice of extraordinary general meeting (together, the "Circular") containing details of the proposed transfer of the Company's category of equity share listing on the Official List of the UK Financial Services Authority from a premium listing to a standard listing.

A copy of the Circular and related form of proxy have been submitted to the National Storage Mechanism and will be available for inspection shortly at www.hemscott.com/nsm.do.

  Please follow this link to download the Circular document as a PDF

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

The Company was advised on 29 December 2010 of certain dealings in its share capital by Brossbar Unlimited ("Brossbar"). Brossbar is a wholly-owned subsidiary of Treasury Holdings Unlimited ("Treasury Holdings"), which is owned as to 50 per cent. by Richard Barrett, a director of the Company.  Brossbar is therefore a connected person of Richard Barrett. This notification is being made pursuant to DTR 3.1.2R.

On 29 December 2010, in Dublin, Brossbar entered into a transaction (the "Transaction") disposing of 5,258,534 ordinary shares of 1p each in the capital of the Company (the "Shares") for a price of 4 pence per ordinary share.

As a result of the Transaction, Treasury Holdings and other entities within the Treasury Holdings group (including Brossbar) who are connected to Richard Barrett hold 216,522,506 ordinary shares in the Company. This figure represents approximately 64.83 per cent. of the Company's issued share capital.

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

Please follow this link to download the entire document as a PDF

Mayor's Approval of the Battersea Power Station Planning Application
and Update on Restructuring

The Company is pleased to announce that the Mayor of London has approved the planning application for the redevelopment of the Battersea Power Station site. The Mayor's approval of the planning application represents another major step towards realising the vision for the redevelopment of Battersea Power Station. The planning application is now with the Secretary of State for Communities and Local Government for consideration. The Company will provide a further update on the planning process in due course.

In view of the time that has elapsed since the Company first indicated its intention to implement a financial restructuring, the Company believes it appropriate to update shareholders on the status of its discussions with creditors and the terms upon which, subject to approval by creditors, the restructuring may proceed. Negotiations with creditors have progressed well and are ongoing. Were the restructuring to be approved by creditors and to proceed on the terms discussed with creditors, the restructuring would comprise the following key elements:

• Battersea Power Station would be transferred by REO to a new holding company. The demerger of Battersea Power Station is intended to facilitate the successful conclusion of the Company’s global third party investment road show through which it is seeking to attract a long term equity partner into the demerged vehicle.
• The Company would effect debt for equity swaps with the holders of the 7.5% convertible unsecured loan stock ("CULS") and zero dividend preference shares ("ZDPs"). CULS holders would receive 21.2% of the equity in the new Battersea Power Station holding company and 15.9% of the enlarged equity of
  REO. ZDP holders would receive 12.1% of the equity in the new holding company and 9.1% of the enlarged equity of REO. In addition, CULS and ZDP holders would be issued with warrants representing 15.9% and 9.1% respectively of the initial issued share capital of the new holding company.
  Each warrant would entitle the holder to subscribe for one new ordinary share at an exercise price of 0.001p at any time for up to 15 years after the completion of the restructuring if the equity in the new holding company has a value in excess of £510 million.
• Ordinary shareholders (including Treasury Holdings) would receive 5% of the equity in the new holding company and warrants in respect of a further 5% and would, after the issue of ordinary shares to CULS and ZDP holders, retain 75% of the enlarged equity of REO.
• As an incentive to manage the development of Battersea Power Station, Treasury Holdings would be awarded a management fee representing 7.7% of the equity in the new holding company.
• The remaining equity in the new holding company, amounting to approximately 54%, would be retained by REO and its subsidiaries following the equitisation of various intercompany balances owed by companies in the Battersea Power Station group.
• REO would be released from various financial obligations relating to the Battersea Power Station group, including guarantees of senior facilities and the £150 million loan note issued to Oriental Property Limited.
• If the £150 million loan note and accrued interest is not repaid on 31 May 2011, Oriental Property Limited would, subject to certain exceptions, have the option to convert the debt into 75% of the equity in the new Battersea Power Station holding company. Shareholders in the new holding company would have the right to acquire that interest prior to 1 June 2012 for an amount equal to the sum due to Oriental Property Limited under the loan note together with interest.

A further announcement will be made in due course.

Real Estate Opportunities plc (REO) is delighted to welcome Boris Johnson’s approval of the planning application for the Battersea Power Station site. The Mayor of London’s decision follows that of Wandsworth Council, who approved the scheme on 11 November 2010. The next stage of the process will see the application considered by the Secretary of State for Communities and Local Government.

The Mayor’s approval of the planning application, the largest ever in Central London, is a major step towards realising the vision for Battersea Power Station. The development will create a vibrant and inviting new community, serving as a catalyst for the regeneration of the Nine Elms Opportunity Area, and is expected to generate approximately 15,000 new jobs and training opportunities.

The scheme will also include a new tube station on the proposed extension of the Northern Line from Kennington to Nine Elms and Battersea. This will be the first ever privately funded extension to the underground network in Central London.

The development has received strong support from a range of stakeholders including the Greater London Authority, English Heritage, and the Commission for Architecture and the Built Environment (CABE), in addition to local residents and the general public.

Construction on Phase 1 of the development is scheduled to commence in early 2012 with completion in 2016. The remaining phases, including the new underground station will follow, with the entire development scheduled for completion in 2024.

Following the Mayor of London’s decision to approve the plans for Battersea Power Station, Rob Tincknell, managing Director of Treasury Holdings UK, said:
“I am delighted that the Mayor of London has supported the redevelopment of Battersea Power Station, bringing us even closer to delivering the regeneration of one of London’s most iconic landmarks. We have worked very closely with local interest groups and residents to develop a scheme which we believe will be of huge benefit to the local community. We now look forward to the application passing to the Secretary of State for Communities and Local Government for final consideration.”

Boris Johnson, the Mayor of London, said:
“Battersea Power Station has long been an iconic feature of the capital’s skyline, and these plans will make sure that status is retained for years to come. The building was once a vital motor helping to power the capital. With its future secured through this regeneration, it will once again play a part in driving London’s economy."

Wandsworth Council Approves Battersea Power Station Planning Application
Major step in regeneration of the largest undeveloped site in Central London

Real Estate Opportunities plc (REO) is delighted to welcome Wandsworth Council’s approval of the planning application for the Battersea Power Station site. The next stage of the process will see the application referred to the Mayor of London and the Secretary of State for Communities and Local Government for their consideration.

Wandsworth Council’s approval of the planning application, the largest ever in Central London, is a major step towards realising the vision for Battersea Power Station, and follows one of the most comprehensive consultation programmes for a property development ever undertaken in the UK, consisting of over 300 meetings with local groups and stakeholders, 3 public exhibitions and over 16,000 visitors to Battersea Power Station.

The scheme has received strong support from a range of stakeholders including the Greater London Authority, English Heritage, the Commission for Architecture and the Built Environment (CABE), and most importantly, the local residents and general public.

Rafael Viñoly’s masterplan will create a 10.1m sq ft mixed-use sustainable development with over 3,400 new homes and 1.7m sq ft of office space alongside 1.5m sq ft of other commercial uses including community, hotels, cultural, leisure, conference centre, shops and restaurants. At the heart will be the Power Station, restored to its former glory, standing as a commanding reminder of London’s industrial past and thrilling future.

The development will also include a new tube station on the proposed extension of the Northern Line from Kennington to Nine Elms and Battersea Power Station. This will be the first ever privately funded extension to the tube network in Central London.

The scheme is expected to generate approximately 15,000 new jobs and training opportunities, and will create a vibrant and inviting new community, serving as a catalyst for the regeneration of the Nine Elms Opportunity Area – the largest project in Central London.

REO is confident in its ability to finance the project and has already attracted significant interest from a range of prospective investors. It has always been REO’s strategy to partner with a new investor, and it hopes to announce significant progress in this regard early in the new year.

Construction on Phase 1 of the development is scheduled to commence in early 2012 with completion in 2016. The remaining phases, including the new underground station will follow, with the entire development scheduled for completion in 2024.

Rob Tincknell, Director of REO, said:

“This decision is a fantastic milestone toward our goal of creating a new exciting place for London and saving one of the City’s great landmarks. Following the Council’s approval, the decision and application now goes to the Mayor of London and the Secretary of State for Communities and Local Government for their consideration. We are grateful for the support we have received thus far, and look forward to working with all the stakeholders to establish a long term economic, social and environmentally sustainable heart to Nine Elms.”

Cllr Nick Cuff, Chairman of Wandsworth Council’s Planning Application committee, said:

"This scheme would restore one of London's most iconic buildings and create thousands of new jobs and homes. The two Northern Line stations will spur on the regeneration of Nine Elms and bring a huge economic windfall to this part of south London. There is still a great deal of work to be done but this is an important step forward and will give the area's other major investors the confidence to press ahead with their plans."

Since purchasing the site, REO has actively engaged with the local community, in particular the Battersea Power Station Community Forum.  The Forum was established in 2003 to play an active role in the design and development of the Power Station site and is made up of a wide range of local community groups, societies and residents. Harry Cowd, Chairman of the Battersea Power Station Community Forum, commented

“For many years the Battersea Power Station Community Forum has worked with the owners of the Power Station on plans to bring about the restoration of this much loved building and the regeneration of the surrounding site. I am very pleased with Wandsworth Council’s decision to approve the planning application, and I firmly believe that this is a major step towards finally saving the Power Station for public use and providing substantial community benefits.  I am grateful to REO and Treasury Holdings for their ongoing engagement with the local community and I look forward to working with them closely to bring forth a scheme which will benefit local residents and businesses, and will breathe new life into the Nine Elms area.”

Further re renegotiation of sterling loan facility agreements relating to Battersea Power Station

The Company announced on 7 September 2010 that the Group’s £225 million power station facility with Bank of Scotland plc and The Governor and Company of the Bank of Ireland (on behalf of the National Asset Management Agency) and £37.55 million site assembly facility with Bank of Scotland plc have been extended to 31 August 2011 (the “Lenders”) and all existing breaches been waived. The agreement was conditional, inter alia, on the Company affecting a compromise by 29 October 2010 with the holders of the cumulative unsecured loan stock. The Lenders have agreed to extend the date for a compromise to be reached to 31 January 2011.

Interim Results for the six months to 31 August 2010

Highlights

Significant progress made with balance sheet restructuring:

- Agreement reached with banks to extend the Battersea Power Station loan facility to 31 August 2011 on terms previously announced

- Agreement reached with the holder of the Series A and Series B loan notes to defer all principal and interest payments due until 31 May 2011

- Agreement reached provisionally with an informal committee comprising larger holders of the 7.5% Convertible Unsecured Loan Stock and the Zero Dividend Preference Shares as previously announced

- The Group continues its engagement with NAMA on the finalisation of the business plan

Market conditions challenging, but showing initial signs of stabilisation:

- Portfolio value stabilising, with total portfolio valuation at £1,050 million, down 4.3%, with Battersea Power Station valuation up 1.8% since February 2010

- Property income of £17 million, reduced from £18 million in H1 2009

- Loss after tax reduced to £45 million, from £196 million in H1 2009

- Loss per share reduced to 13.6 pence, from loss per share of 58.0 pence in H1 2009

- Cash balances remain consistent at £39 million (includes cash equivalents and restricted cash)

Continued strong operational performance:

- Investment portfolio continues to perform strongly, underpinned by prime locations and high quality tenants:

• Annualised rent roll €40.6 million (H1 2009: €41.1 million)
• 92% rent roll prepaid quarterly
• 91% of rent subject to upward only reviews
• Occupancy levels at 95%, arrears at 5%
• Rent weighted average lease length up at 12 years

Decision regarding the planning application for Battersea Power Station anticipated in the near future:

- Design now supported by influential bodies such as The Commission for Architecture and the Built Environment, English Heritage and The Greater London Authority

- Significant interest from prospective investors during the global investment roadshow

- Continued commitment to demerge the Battersea Power Station project from the remainder of the REO portfolio, subject to negotiations with relevant stakeholders

Ray Horney, Chairman, said:
“As we continue to manage the business through these challenging market conditions, I am pleased to announce the significant progress made towards the financial restructuring of the Group. I am grateful to our lenders for their ongoing support and pleased that the Group can begin to move forward on a solid footing. Plans are also advancing for the development of the Battersea Power Station, with a decision regarding the planning application anticipated in the near future and we look forward to updating you in due course.”

Please follow this link to download the full Interim Results

Further re proposed Battersea restructuring

The Company announced on 7 September 2010 that the group’s £225 million power station facility with Bank of Scotland plc and The Governor and Company of the Bank of Ireland (on behalf of the National Asset Management Agency) (together the “Banks”) and £37.55 million site assembly facility with Bank of Scotland plc had been extended to 31 August 2011 and all existing breaches been waived, conditional, inter alia, on the Company effecting a compromise by 1 October 2010 with the holder of the £150 million series A and series B loan notes including in relation to all principal and interest.  On 4 October 2010, the Company further announced that the lenders under the Battersea facilities had agreed to extend the date for such compromise to be reached to 10 October 2010.

The Company is pleased to announce it has signed an agreement (the “Agreement”) with the loan note holder which defers all principal and interest payments due until 31 May 2011.  The Agreement also confirms the basis of a wider compromise arrangement, contingent upon the completion of detailed documentation and approval of the Banks, the loan note holder, the holders of the Company’s 7.5% convertible unsecured loan stock and the zero dividend preference shares issued by the Company’s wholly-owned subsidiary REO Securities Limited and REO’s ordinary shareholders.  A further announcement setting out the agreed financial restructuring terms will be made in due course.

Further re renegotiation of sterling loan facility agreements relating to Battersea Power Station

The Company announced on 7 September 2010 that the group’s £225 million power station facility with Bank of Scotland plc and The Governor and Company of the Bank of Ireland (on behalf of the National Asset Management Agency) and £37.55 million site assembly facility with Bank of Scotland plc have been extended to 31 August 2011 and all existing breaches been waived.  The agreement was conditional, inter alia, on the Company effecting a compromise by 1 October 2010 with the holder of the £150 million series A and series B loan notes including in relation to all principal and interest.  Negotiations with the loan note holder are ongoing and the lenders under the Battersea facilities have agreed to extend the date for a compromise to be reached to 10 October 2010. A further announcement will be made in due course.

Change of Registered Office

Real Estate Opportunities plc announces the change, effective from Thursday 16 September 2010, of the registered office of the Company to Ogier House, The Esplanade, St Helier, Jersey JE4 9WG.

Renegotiation of sterling loan facility agreements relating to Battersea Power Station

The Company reported in its annual report and accounts published on 23 June 2010 that the group’s sterling loan facilities, in respect of which a loan to value covenant was breached as at 28 February 2010, had been renegotiated, subject to completion of legal documentation. The Company is pleased to announce that the documentation has now been completed and executed.

Accordingly, on terms agreed with the lenders, the group’s £225 million power station facility with Bank of Scotland plc and The Governor and Company of the Bank of Ireland (on behalf of the National Asset Management Agency) and £37.55 million site assembly facility with Bank of Scotland plc have been extended to 31 August 2011 and all existing breaches been waived. The agreement is conditional on the Company (i) effecting a compromise by 1 October 2010 with the holders of the £150 million series A and series B loan notes including in relation to all principal and interest ; and (ii) effecting a compromise by 29 October 2010 with the holders of the cumulative unsecured loan stock. Under the facility agreements, the group will also need to effect a compromise with the holders of the zero dividend preference shares issued by REO Securities Limited. As previously announced, negotiations are ongoing with these parties and a further announcement will be made in due course.

Ray Horney, Chairman of Real Estate Opportunities, commented:
"We are delighted to have completed the renegotiation of this loan facility with new terms which are consistent with our announcement in June. We would like to thank our lenders for their ongoing support, which we believe reflects their commitment to our development proposals for Battersea Power Station. Our development plans are progressing well and we look forward to updating the market on the planning process in the near future.”

Voting results from the Annual General Meeting held on 06.09.10

Proposed Battersea restructuring and suspension of interest on the Company’s
Convertible Unsecured Loan Stock

Further to the statements in the Company’s annual report and accounts published on 23 June 2010 regarding the proposed demerger of the Battersea assets, the Company and its advisers have been engaged in ongoing financial restructuring negotiations with the holders of the Company’s Series A and B unsecured loan notes, NAMA, Lloyds Banking Group and an adhoc informal committee comprising the larger holders of the Company’s 7.5% convertible unsecured loan stock (CULS) and the zero dividend preference shares (ZDP) issued by the Company’s wholly-owned subsidiary REO Securities Limited. Significant progress has been made towards agreeing the shape of a consensual financial restructuring with the informal adhoc committee that is now being discussed with the Company’s other lenders. The committee, REO Directors and Treasury Holdings (which supports the restructuring proposal) together account for some £59.4 million of convertible loan stock representing 59 per cent of the total amount in issue and for some 32.9 million ZDPs representing 57 per cent of the total number of ZDPs in issue.

Taking account of the status of negotiations, the Company has determined that the interest payment due to the CULS holders on 31 August 2010 will not be made.

A further announcement will be made in due course.

Issue of Shares

The board announces that they have approved the conversion of 205,668 Convertible Unsecured Loan Stock into 205,668 Ordinary Shares. The total number of Ordinary shares in issue now stands at 334,009,584.

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.

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

2009

2010

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