Rodamco North America NV announces that it has rescheduled its Extraordinary General Meeting of Shareholders (Â'EGMÂ') for 25 March 2002. This follows the temporary deferment of the original EGM date of 26 February 2002 after a ruling by the Enterprise Chamber of the Amsterdam Court of Appeal on 22 February 2002 that a shareholder vote could not be taken at that time.
As previously stated, the principal purpose of the meeting is to seek shareholder approval for the sale of RNA to a bidding group comprised of Westfield America Limited Partnership (Â'WestfieldÂ'), Simon Property Group (Â'SimonÂ') and The Rouse Company (Â'RouseÂ') formally announced on 14 January 2002.
RNA will advertise an agenda, time and venue for the EGM on 8 March 2002 and will also publish an updated Explanatory Memorandum about the transaction and the distribution of the transaction proceeds.
Commenting on todayÂ's announcement, Gerald Egan, Chairman of the management board of RNA said: 'RNA strongly believes that the proposed sale to Westfield, Simon and Rouse will deliver significant value to all our shareholders. We urge shareholders to endorse this transaction for EUR 55.00 all cash at the forthcoming EGM on 25 March 2002.'
In a joint statement Mr Frank Lowy of Westfield, Mr David Simon of Simon Property Group, and Mr Anthony Deering of Rouse Company said: 'We believe RNAÂ's shareholders recognise the value offered and will approve the transaction of 25 March 2002.'
(source: Rodamco North America)