(RGI) R.G.I International
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| 19-12-11 | RNS |
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RNS Number : 2416U R.G.I. International Limited 19 December 2011 FOR IMMEDIATE RELEASE 19 December 2011 R.G.I. INTERNATIONAL LIMITED SYNERGY'S US$99 MILLION CLAIM AGAINST RGI STRUCK OUT
R.G.I. International Limited ("RGI" or the "Company"), the AIM listed developer of quality residential and commercial real estate in Moscow and the surrounding areas, is pleased to announce that a US$99 million counterclaim by Synergy Classic Limited ("Synergy") against RGI has been struck out following a successful application by the Company for summary judgment. Synergy had argued that it was entitled to exercise a put option in respect of its RGI shares in such a way that, had the claim been accepted, would have seen Synergy reap a US$99 million windfall while allowing it to retain the vast majority of the shares. However, the High Court found that there had been no breach by RGI that would entitle Synergy to exercise the put option. Further to its judgment, handed down on 19 December 2011, the High Court criticised Synergy's claim for its "readily apparent" "lack of commercial merit". In addition, RGI was awarded costs to be paid by Synergy in an amount to be assessed. Synergy was ordered to pay interim costs of £70,000 by 9 January 2012. This judgment of the High Court represents the third time in 2011 that claims brought by Synergy against RGI and/or its directors have been struck out. The striking out of Synergy's counterclaim also results in the dismissal of the overwhelming majority, in monetary terms, of Synergy's claims against RGI and its directors. The Company had granted certain put options to Synergy pursuant to the terms of its initial investment in RGI. All such put options have now lapsed. The Company intends to vigorously defend Synergy's remaining claims. Commenting, Alan Hibbert, CEO, said: "We are delighted that the Court has struck out Synergy's spurious counterclaim against RGI. Synergy's action was nothing more than a cynical attempt to extract US$99 million from RGI without any regard to the impact this would have on the Company or our shareholders. Synergy's claim to such a huge windfall at RGI's expense was without merit and ultimately has failed. The Company's management can now look forward to focussing on the development and management of RGI's project portfolio." Ends. Contact: RGI +44 (0) 1481 725729 Emanuel Kuzinetz Lazard & Co. Limited - Financial Adviser +44 (0) 207 187 2000 Patrick Long Nick Fowler Baron Phillips Associates - Financial PR Adviser +44 (0) 207 920 3161 Baron Phillips Shore Capital - Nominated Adviser +44 (0) 207 408 4090 Anita Ghanekar Edward Mansfield
This information is provided by RNS The company news service from the London Stock Exchange More |
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| 05-12-11 | RNS |
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RNS Number : 3061T R.G.I. International Limited 05 December 2011 FOR IMMEDIATE RELEASE 5 December 2011 R.G.I. INTERNATIONAL LIMITED CLAIMS AGAINST DIRECTOR STRUCK OUT
R.G.I. International Limited ("RGI"), the AIM listed developer of quality residential and commercial real estate in Moscow and the surrounding areas, is pleased to announce that all claims by Synergy Classic Limited ("Synergy") made against RGI's independent non-executive director, Timothy Fenwick, have been struck out. The judgement of the High Court, handed down on 2 December 2011, stated that Synergy's claims against Mr Fenwick disclosed no reasonable grounds for being brought, amounted to an abuse of the court's process and had no real prospect of success. In addition, Mr Fenwick was awarded costs on an indemnity basis in an amount to be assessed and Synergy was ordered to pay interim costs of £40,000 by 23 December 2011. Ends. Contact: RGI +44 (0) 1481 725729 Emanuel Kuzinetz Lazard & Co. Limited - Financial Adviser +44 (0) 207 187 2000 Patrick Long Nick Fowler Baron Phillips Associates - Financial PR Adviser +44 (0) 207 920 3161 Baron Phillips Shore Capital - Nominated Adviser +44 (0) 207 408 4090 Anita Ghanekar Edward Mansfield
This information is provided by RNS The company news service from the London Stock Exchange More |
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| 02-12-11 | RNS |
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RNS Number : 2606T R.G.I. International Limited 02 December 2011 FOR IMMEDIATE RELEASE 2 December 2011 R.G.I. INTERNATIONAL LIMITED PROGRESS UPDATE ON MICROGROROD <<V LESU>> COMMUNITY DEVELOPMENT
R.G.I. International Limited ("RGI"), the property development company focusing on quality residential and retail properties within Moscow and the surrounding areas, today announces that it is making good progress at Microgorod <<V Lesu>> ("V Lesu") residential community development.
Interest in V Lesu among home buyers has been strong. Since its official sales campaign was launched at the beginning of October 2011 47 apartments have been sold whilst contracts on a further 67 properties have been signed, subject to mortgage approval. The majority of the sales have been for the more expensive three-bedroom apartments which are selling for approximately Roubles 7.0m (approximately $235,000).
Sberbank, one of Russia's leading mortgage providers, is offering a special low interest mortgage for V Lesu during December. The interest rate is 7.9% compared to what the directors believe is the normal best rate of 10%. Typical Russian mortgage rates range between 12% to 15%. This low rate, the Directors believe, is unique in the Russian mortgage market.
The Directors believe demand from potential homebuyers to acquire an apartment at V Lesu with a mortgage is well above average. The Directors also believe that typically in Russia, only between 10% and 20% of buyers do so with a mortgage. At V Lesu the rate is between 50% and 70%. As a result Sberbank has already installed its own staff in the V Lesu sales offices and it plans to increase the number.
Located in the Krasnogorsk district, only 23 Km from the Kremlin, V Lesu occupies a 77 hectare site. The first phase, currently under construction, will comprise a total of 1,193 apartments in three buildings together with underground parking and community facilities. Completion of the first phase is planned for 2013.
Alan Hibbert, acting Chief Executive of RGI, said: "We are in the process of bringing a Western Europe style residential development to Moscow where we are using our proven track record of luxury development to create well designed affordable homes. Our special mortgage offer is aimed at the middle class aspiring home owner and demonstrates the availability of high quality housing at relatively affordable prices".
"It is interesting to see that the greatest demand is for our two and three-bedroom family apartments reflecting the underlying ethos of V Lesu. The scheme is unique, not only in terms of its design and function, but also in its fully integrated approach that we believe serves all the needs of its residents. We believe that, by incorporating fully fitted apartments, underground parking and all the necessary social infrastructure in one development, there will be tremendous interest from both buyers and the general public."
Development of V Lesu will create a total of approximately 9,000 apartments, together with a broad range of community facilities that includes three kindergartens, two large primary schools, on site medical facilities as well as retail and business space. It is anticipated that on completion V Lesu will be a community of around 30,000 people. Ends. Contact: RGI Group +7 (495) 933-61-80 Alan Hibbert, Chief financial Officer and interim CEO Emanuel Kuzinetz, Director +44 (0) 1481 725729 Lazard & Co. Limited - Financial Adviser +44 (0) 207 187 2000 Patrick Long Nick Fowler Baron Phillips Associates - Financial PR Adviser +44 (0) 207 920 3161 Baron Phillips Shore Capital - Nominated Adviser +44 (0) 207 408 4090 Anita Ghanekar Edward Mansfield This information is provided by RNS The company news service from the London Stock Exchange More |
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| 10-10-11 | RNS |
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RNS Number : 9125P R.G.I. International Limited 10 October 2011 Second Price Monitoring Extension A second and final Price Monitoring Extension has been activated in this security. The closing auction call period is extended in this security for a further 5 minutes. Following the first price monitoring extension this security would still have executed more than a pre-determined percentage above or below the price of the most recent automated execution today. London Stock Exchange electronic order book users have a final opportunity to review the prices and sizes of orders entered in this security prior to the auction execution which will set today's closing price. The applicable percentage is set by reference to a security's Millennium Exchange sector. This is set out in the Sector Breakdown tab of the Parameters document at www.londonstockexchange.com/tradingservices This information is provided by RNS The company news service from the London Stock Exchange More |
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| 03-10-11 | ||||
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Having made a few bob on this little nugget i notice its dropped from $3 to $1 very quickly. looks a repeat of 2007 as the tide goes out but is anyone where of any additional news that was not already included in the last update. will keep an eye on.
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| 14-12-10 |
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http://www.telegraph.co.uk/finance/markets/8199966/RGI-International-used-as-personal-bank-for-chairman-and-chief-executive-claims-shareholder.html
we haven't posted on here for years..........Russians, another reason for not investing in the former soviet block countries. Over and over again, same old corruption by the looks of things |
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| 09-12-10 | ||||
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DJ R.G.I. International Opening of Tsvetnoy Central Market
TIDMRGI RNS Number : 6360X R.G.I. International Limited 09 December 2010 ? 09 December 2010 R.G.I. International Limited Launch of New Development R.G.I. announces opening of Tsvetnoy Central Market R.G.I. International Limited ("RGI" or the "Company"), the AIM listed developer of quality residential and retail properties within Moscow and the surrounding areas, is pleased to announce the soft opening today of the Tsvetnoy Central Market department store building ("Tsvetnoy"). Tsvetnoy is a retail developmentlocated at the historic site of the old market on Tsvetnoy Boulevard, in central Moscow. The Company has designed and will operate Tsvetnoy as a western-style tenancy department store offering a varied shopping experience with high street and niche designer fashion, accessories, food hall, fresh market, cafés, bars and a rooftop restaurant with views of Moscow. Tsvetnoy covers a total area of 36,527 sq. metres over eight retail floors, including three floors that are dedicated to the food market, cafe and restaurants. The building also includes three underground parking floors with 387 parking spaces. Approximately 70% of the available retail space has been either allocated to third party unit operators under concession agreements or leased to tenants under lease agreements; the remaining retail space will be operated by RGI and will be used to offer the Company's own product inventory, which consists of a wide range of leading international fashion brands. RGI intends to retain ownership of Tsvetnoy and will lease and operate the development in order to maximize the Company's return on investment and produce a regular income flow. Tsvetnoy's opening will give Moscow an exciting new retail destination. The building was designed by renowned Russian architect George Grigoryan and the interior was created by British designers HMKM and Architects Lifschutz Davidson Sandilands, whose portfolios include interior designs for Selfridges, Harvey Nichols, La Rinascente, Nike and other leading stores around the world. The Directors believe that the exclusive architecture and design, a high-end delicatessen food hall, contemporary art installations and exceptional levels of service will make Tsvetnoy a vibrant place to visit, which management believe will provide a different retail experience to anywhere else in Moscow. A team of international professionals has been retained to establish and manage the store's operations; the team includes Nick Hill (Retail Operations), Mahipat Singh (Buying and Marketing), Caroline Greer (Head Buyer), Dominic Ford and Patrick McDonald of Ford McDonald Consultancy (Food Operations). This operations team is highly experienced in the design and the operation of major high end department stores in the UK and Continental Europe, including Selfridges, Harrods, Liberty, Harvey Nichols, La Rinascente and Lane Crawford. These western stores have for many years delivered an exceptional retail experience and Tsvetnoy aims to do the same, establishing itself as the destination for shoppers in Moscow. Tsvetnoy uses the concession model that has been successfully applied worldwide; customers will have a wide choice of international brands from the middle market to the luxury end of fashion. Twenty new brands, including All Saints, Reiss, Maje, Iro, Zadig et Voltaire, House of Harlow and Jerome Dreyfuss will be introduced to the Russian market for the first time at Tsvetnoy. The basement floor houses a wide range of basic and denim brands, as well as books, music, movies and gadgets. Perfumes and cosmetics as well as a wide selection of accessories, jewelry, home style and eyewear are presented on the first floor. The second floor is occupied by high street super brands such as Mango, Promod and Abercrombie & Fitch, who offer designed fashion at affordable price levels. The third floor introduces several b |
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| 12-10-09 |
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BTW Plant Impact has amazing prospects, though still need to find out what kind of revenues are likely from their upcoming deals. However, their MC is pretty pathetic considering they are about to enter competitive products into a multi billion dollar industry with a distribution deal with one of the major distributors.
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They have not been approved or issued by Interactive Investor Trading Limited.
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