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BRIEF-Orava Residential says will investigate feasibility of Orava Funds' indicative offer ​
October 12, 2017 / 5:43 AM / 10 days ago

BRIEF-Orava Residential says will investigate feasibility of Orava Funds' indicative offer ​

Oct 12 (Reuters) - ORAVA ASUNTORAHASTO OYJ

* BOARD OF DIRECTORS OF ORAVA RESIDENTIAL REIT PLC SUPPORTS CONTINUATION OF INDEPENDENT OPERATIONS AND FURTHER INVESTIGATION OF ORAVA FUNDS PLC’S INDICATIVE OFFER

* ‍BOARD OF DIRECTORS DEEMS THAT INDICATIVE OFFER BY ORAVA FUNDS IS INTERESTING AND WILL INVESTIGATE ITS FEASIBILITY​

* ‍DECIDED ON PURCHASE OF COMPANY‘S OWN SHARES​

* ‍ESTIMATED COST SAVINGS OF EUR 0.5 MILLION IN 2018​

* ‍COMPANY‘S BOARD OF DIRECTORS HAS DECIDED NOT TO CONTINUE PREPARING INDICATIVE OFFER MADE BY ELITE​

* ‍DECIDED NOT TO CONTINUE PREPARING INDICATIVE OFFER MADE BY ELITE​

* SAYS ‍INDICATIVE OFFER MADE BY ORAVA FUNDS IS AS TO ITS FINANCIAL TERMS MORE FAVOURABLE THAN THAT MADE BY ELITE.​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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