TIDMPROP 
 
RNS Number : 2571E 
Property Recycling Group PLC 
16 December 2009 
 
 
 
+--------------------+-----------------+-----------------+-----------------+---------+ 
| Property Recycling Group plc has been advised by Midas Investment Management       | 
| Limited that the notification it sent to the company yesterday 15 December 2009    | 
| (which was announced on that day) was incorrect in respect of the underlying       | 
| shareholder.(box 4). A corrected notification is set out below:                    | 
|                                                                                    | 
+------------------------------------------------------------------------------------+ 
| TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES                                     | 
+------------------------------------------------------------------------------------+ 
|                                                        |                           | 
+--------------------------------------------------------+---------------------------+ 
| 1. Identity of the issuer or the underlying issuer of  |  Property Recycling Group | 
| existing shares to which voting rights are attached:   |                       plc | 
+--------------------------------------------------------+---------------------------+ 
| 2 Reason for the notification (please tick the appropriate box or boxes):          | 
+------------------------------------------------------------------------------------+ 
| An acquisition or disposal of voting rights                              | Yes     | 
+--------------------------------------------------------------------------+---------+ 
| An acquisition or disposal of qualifying financial instruments which may |         | 
| result in the acquisition of shares already issued to which voting       |         | 
| rights are attached                                                      |         | 
+--------------------------------------------------------------------------+---------+ 
| An acquisition or disposal of instruments with similar economic effect   |         | 
| to qualifying financial instruments                                      |         | 
+--------------------------------------------------------------------------+---------+ 
| An event changing the breakdown of voting rights                         |         | 
+--------------------------------------------------------------------------+---------+ 
| Other (please      |                                                     |         | 
| specify):          |                                                     |         | 
+--------------------+-----------------------------------------------------+---------+ 
| 3. Full name of person(s) subject to |         Pershing Nominees Limited A/C MDCLT | 
| the                                  |                                             | 
| notification obligation:             |                                             | 
+--------------------------------------+---------------------------------------------+ 
| 4. Full name of shareholder(s)       |    Funds under the discretionary management | 
|  (if different from 3.):             |          of Midas Investment Management Ltd | 
+--------------------------------------+---------------------------------------------+ 
| 5. Date of the transaction and date  |                            15 December 2009 | 
| on                                   |                                             | 
| which the threshold is crossed or    |                                             | 
| reached:                             |                                             | 
+--------------------------------------+---------------------------------------------+ 
| 6. Date on which issuer notified:    |                            15 December 2009 | 
+--------------------------------------+---------------------------------------------+ 
| 7. Threshold(s) that is/are crossed  |                                15 per cent. | 
| or                                   |                                             | 
| reached:                             |                                             | 
+--------------------+-----------------+-----------------+-----------------+---------+ 
 
+----------------+----------------+--------+---+----------+----------------+---+----------+---+----------+----+---+----------+ 
| 8. Notified details:                                                                                                       | 
+----------------------------------------------------------------------------------------------------------------------------+ 
| A: Voting rights attached to shares                                                                                        | 
+----------------------------------------------------------------------------------------------------------------------------+ 
| Class/type of  | Situation previous                     | Resulting situation after the triggering                         | 
| shares         | to the triggering                      | transaction                                                      | 
| if possible    | transaction                            |                                                                  | 
| using          |                                        |                                                                  | 
| the ISIN CODE  |                                        |                                                                  | 
+                +----------------------------------------+------------------------------------------------------------------+ 
|                | Number                  | Number       | Number             | Number of voting        | % of voting       | 
|                | of                      | of           | of shares          | rights                  | rights x          | 
|                | Shares                  | Voting       |                    |                         |                   | 
|                |                         | Rights       |                    |                         |                   | 
+                +                         +              +--------------------+-------------------------+-------------------+ 
|                |                         |              | Direct             | Direct       | Indirect | Direct | Indirect | 
|                |                         |              |                    |              |          |        |          | 
+----------------+-------------------------+--------------+--------------------+--------------+----------+--------+----------+ 
|  GB00B09G4F14  |        5,291,279        |  5,291,279   |     5,431,279      |  5,431,279   |          | 15.0%  |          | 
+----------------+                         +              +                    +              +          +        +          + 
|                |                         |              |                    |              |          |        |          | 
+----------------+-------------------------+--------------+--------------------+--------------+----------+--------+----------+ 
|                                                                                                                            | 
+----------------------------------------------------------------------------------------------------------------------------+ 
| B: Qualifying Financial Instruments                                                                                        | 
+----------------------------------------------------------------------------------------------------------------------------+ 
| Resulting situation after the triggering transaction                                                                       | 
+----------------------------------------------------------------------------------------------------------------------------+ 
| Type of financial               | Expiration | Exercise/                                | Number of voting  | % of voting  | 
| instrument                      | date       | Conversion Period                        | rights that may   | rights       | 
|                                 |            |                                          | be                |              | 
|                                 |            |                                          | acquired if the   |              | 
|                                 |            |                                          | instrument is     |              | 
|                                 |            |                                          | exercised/        |              | 
|                                 |            |                                          | converted.        |              | 
+---------------------------------+------------+------------------------------------------+-------------------+--------------+ 
|                                 |            |                                          |                   |              | 
+---------------------------------+------------+------------------------------------------+-------------------+--------------+ 
|                                                                                                                            | 
+----------------------------------------------------------------------------------------------------------------------------+ 
|                                                                                                                            | 
+----------------------------------------------------------------------------------------------------------------------------+ 
| Total (A+B)                                                                                                                | 
+----------------------------------------------------------------------------------------------------------------------------+ 
| Number of voting rights                                                  | Percentage of voting rights                     | 
+--------------------------------------------------------------------------+-------------------------------------------------+ 
| 5,431,279                                                                | 15.0 per cent.                                  | 
+----------------+----------------+--------+---+----------+----------------+---+----------+---+----------+----+---+----------+ 
 
+--------------------------------------------+---+---------------------------------+ 
| 9. Chain of controlled undertakings through which the voting rights and/or the   | 
| financial instruments are effectively held, if applicable: xxi                   | 
+----------------------------------------------------------------------------------+ 
|                                                                                  | 
+----------------------------------------------------------------------------------+ 
|                                                                                  | 
+----------------------------------------------------------------------------------+ 
| Proxy Voting:                                                                    | 
+----------------------------------------------------------------------------------+ 
| 10. Name of the proxy holder:                  |                                 | 
+------------------------------------------------+---------------------------------+ 
| 11. Number of voting rights proxy holder will  |                                 | 
| cease                                          |                                 | 
| to hold:                                       |                                 | 
+------------------------------------------------+---------------------------------+ 
| 12. Date on which proxy holder will cease to   |                                 | 
| hold                                           |                                 | 
| voting rights:                                 |                                 | 
+------------------------------------------------+---------------------------------+ 
|                                                                                  | 
+----------------------------------------------------------------------------------+ 
| 13. Additional information:                |                                     | 
+--------------------------------------------+-------------------------------------+ 
| 14. Contact name:                          | David Rodrigues                     | 
+--------------------------------------------+-------------------------------------+ 
| 15. Contact telephone number:              | 0044 161 242 2895                   | 
+--------------------------------------------+---+---------------------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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