Last checked at 8 May 2012 09:15
8 May 2012
Aisi Realty Public Limited("Aisi" or "the Company")
Change of Name to Secure Property Development & Investment Limited
Aisi Realty Public Limited (AIM:AISI), a South Eastern European focused property and investment company, announces that it proposes to change its name to 'Secure Property Development & Investment Limited'. The change is subject to shareholder approval at the next Annual General Meeting although the Company will start operating under the new name with immediate effect.
The name change follows the introduction of new investors and an internalised management structure in August last year, as part of an agreement with Narrowpeak Consultants Ltd, a member of the SECURE Group, a specialist private equity real estate platform focusing in South East Europe. Subsequently a number of successful turnaround initiatives have been implemented which have improved the Company's financial strength and repositioned it in order to create a platform for future growth.
Lambros Anagnostopoulos, Chief Executive Officer at the newly named Secure Property Development & Investment Limited, commented: "Having made significant improvements across all areas of the business, we believe changing the name better reflects the new company, its stronger financial position and renewed prospects. Rebranding the Company is the next logical step in our turnaround of the business and we hope to announce further positive progress in the near future."
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Enquiries:
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Secure Property Development & Investment Ltd (formerly Aisi Realty Public Ltd) | + 380 44 459 3000 | ||
Lambros Anagnostopoulos
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Seymour Pierce Limited | + 44 (0)20 7107 8000 | ||
Nandita Sahgal / David Foreman | |||
FTI Consulting | +44 (0)20 7831 3113 | ||
Richard Sunderland / Toyah Simpson |
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Notes to Editors
About Secure Property Development and Investment Limited
Secure Property Development and Investment Limited ("SPDI") is a South Eastern European focused property company incorporated in Cyprus. The Company's portfolio comprises the Terminal Brovary logistics park in Kiev (Gross Leasable Area of circa 50,000 sqm), and four development projects at different stages of progression, which have a combined value of €33 m.
Established in 2005, SPDI employs a team of 15 experienced professionals operating across three countries. In August 2011, following a transaction with Narrowpeak Consultants Ltd a new internalised management team was introduced to settle the Company's liabilities and create and execute a strategy for growth. SPDI's shares are publicly traded on the AIM market of the London Stock Exchange (AIM:AISI).
About South East Continent Unique Real Estate Management (SECURE)
South East Continent Unique Real Estate (SECURE) Management ("SECURE") is a private equity platform that manages property investment and development vehicles in South East Europe. SECURE Investments I and II, have invested in residential and mixed-use developments totalling circa 300,000 sqm in Bulgaria, Romania and Serbia. SECURE is domiciled in the European Union with offices in Cyprus and Romania and has an active presence in Bulgaria and Ukraine.
With €250m worth of Assets Under Management (AUM) SECURE employs a team of 16 full time professionals, working across five countries, with a wealth of international experience and a strong track record in the real estate development, investment and finance sectors. SECURE was established in 2007 and, through a conservative and risk management focused approach, has managed to steer its clients through the difficult global economic crisis whilst continuing to add value, having even achieved an increase in the Net Asset Value for its Investment Vehicles since inception.