Property developers seek name change

Irish quoted property investment and development company, Blackrock International Land plc, are proposing to change its name to Balmoral International Land Public Limited Company.

The change will be subject to shareholder approval.

The proposed change of name arises following the resolution of a trade mark dispute between the company and BlackRock Inc, the US-based international asset management and investment management company.

The parties have now agreed to settle the litigation proceedings between them and a formal settlement agreement has been reached which they have both irrevocably undertaken to execute once the company’s shareholders have approved the change of name.

As a result of the agreement, the company will not suffer any financial loss in association with the direct costs of the change of name.

An Extraordinary General Meeting will take place on October 7, 2010, at which the company will propose a special resolution to change its name to Balmoral International Land Public Limited Company.