The proposed transaction in its current form in which Ruric would acquire Scorpio's share in Fontanka 57 was stopped by the Bondholders.
On 14th March Ruric announced an agreement with Scorpio to buy their share in the project company for Fontanka 57 for almost SEK 88 mln (see press release dated 14th March 2012 at www.ruric.com for further details). This agreement was conditional on approval by the respective companies' board of directors and bondholders. In a first voting procedure all votes were counted on April 20th and the bondholders found to have voted against the transaction.
A new voting procedure was initiated on May 7th, and all votes counted yesterday, 29th May. The bondholders again voted against the transaction.
Fore more information please contact Anna Litewka or Martin Gorne.