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Successful PO of CLR to Confine

Pursuant to article 18, Part V of the CSE Regulations 1997-2002 (Public Offer for Acquisition or Purchase of Titles and Merger of Companies Listed in the CSE), CLR Capital Public Ltd announces that the Public Offer Document dated March 10, 2005, submitted to the shareholders of Confine Investments Public Limited expired on April 18, 2005 at 1.30 pm.

The total percentage of shares acquired is 4.88% and the Public Offer is regarded as successful, since CLR Capital Public Ltd declared that it will accept the total offered shares of Confine Investments Public Limited.

CLR Capital Public Ltd also decided to send the consideration to all shareholders that accepted the Public Offer.

As a result, CLR Capital Public Ltd and the Parties on Agreement hold 61.09%. Since this is lower than the 70% of the issued share capital of Confine Investments Public Limited, all provisions of Regulation 61(1)(g) of the CSE Regulations on the minimum dispersion rates are observed.

The shares of Confine Investments Public Limited will remain listed in the CSE in the Authorized Investment Companies sector.

The Board of Directors would like to thank the shareholders for their response.

Tuesday, 19 April, 2005 - 10:34