Rugby Estates Plc announced the proposed appointment of Rugby Asset
Management Limited ('RAM') as property adviser to O Twelve Estates Limited ('O Twelve') subject to incorporation and regulatory approval of O Twelve. O Twelve has today announced its proposed admission to AIM and the fundraising of approximately 100 million, upon which RAM's appointment will be conditional.
O Twelve, a closed-ended investment company to be registered in Guernsey which has applied to the Guernsey Financial Services Commission for consent to operate as such in Guernsey, is being formed to establish a substantial property investment portfolio in the Thames Gateway and the adjacent areas of east London, Essex, South Hertfordshire and North Kent. As property adviser, RAM will, on behalf of O Twelve, seek to take advantage of property acquisition opportunities in these locations in the run up to the London Olympic Games in 2012.
Source: Rugby Estates PLC