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3 Jun 2016 13:00
3 June 2016
BCRE - Brack Capital Real Estate Investments N.V.
("BCRE" or the "Company")
Share buyback programme
The Company announces a share buyback programme up to a maximum of €3.000.000,00. The Company intends to cancel the shares upon repurchase. The purpose of the share buyback is to reduce the discount between the current share price and the net asset value per share. The share buyback programme will commence on 3 June 2016 and is expected to be completed on or before 30 June 2016.
The share buyback will be executed by the board of the Company within the limitations of the existing authority granted by the shareholders meeting of the Company on 30 June 2015 and assuming this authority is renewed, of the authority granted by the shareholders meeting at the annual general meeting to be held on 24 June 2016. Shares may be repurchased in the market or in private transactions at a price which is around the prevailing stock price at the time of the transaction. Due to the generally low trading volume of BCRE's shares on the London Stock Exchange, repurchases of shares under the share buyback programme on any trading day will likely represent a significant proportion of the daily trading volume in the shares.
All transactions under this programme will be published on the Company's website (www.brack-capital.com) on a daily basis.
The Company is exploring other options to reduce the discount between the current share price and the net asset value per share and increase the trading volume in its shares.
ENQUIRIES:
BCRE - Brack Capital Real Estate Investments N.V. |
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Ariel Podrojski, Chief Executive Officer |
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Nansia Koutsou, Chief Financial Officer / Chief Operating Officer | +31 20 514 1004 |
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Novella Communications |
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Tim Robertson |
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Toby Andrews | +44 203 151 7008 |
About BCRE
BCRE is an international real estate development and investment group, headquartered in the Netherlands and listed on the London Stock Exchange. Through its subsidiary and associated undertakings, the Company is interested in, develops and operates and international portfolio of real estate assets, predominantly located in the USA, Germany, Russia, India and the UK.
The Company has established local management team platforms with significant local market expertise in the US, Germany, Russia, India and the UK with exclusive access to over 550 staff. At present, the Company has offices and teams in New York, London, Frankfurt, Dusseldorf, Moscow, Kazan, New Delhi, Amsterdam, Limassol and Budapest.
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