Last checked at 30 Jun 2017 13:15
Secure Property Development & Invest PLC/ Index: AIM / Epic: SPDI / Sector: Real Estate
30 June 2017
Secure Property Development & Investment PLC
('SPDI' or 'the Company')
Exercise of warrants
Secure Property Development & Investment PLC, the AIM quoted property company focused on Emerging Europe, announces that it has received valid notices of exercise from holders of Class B warrants that were issued in August 2011. The total number of Class B warrants were exercised at an exercise price of 0.01 euro per share and 12,948,694 ordinary shares shall be issued. Narrowpeak Consultants Limited, an existing shareholder of the Company, following the exercise of the warrants will receive 10,358,955 ordinary shares and will have 17.7% of the outstanding share capital of the Company. Following this exercise, there are no more Class B Warrants outstanding.
Application will be made for the new 12,948,694 ordinary shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will be effective on 6 July 2017. Following Admission, the Company will have a total of 103,589,550 ordinary shares in issue. The new ordinary shares will be credited as fully paid and will rank pari passu with the existing ordinary shares, including the right to receive all dividends and other distributions declared in respect of such shares.
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For further information please visit www.secure-property.eu or contact:
Lambros Anagnostopoulos Constantinos Bitros | SPDI | Tel: +357 22 030783 |
Andrew Emmott Ritchie Balmer | Strand Hanson Limited | Tel: +44 (0) 20 7409 3494 |
Jon Belliss Elliot Hance | Beaufort Securities Limited | Tel: +44 (0) 20 7382 8300 |
Lottie Brocklehurst Frank Buhagiar | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
Notes to Editors
Secure Property Development and Investment plc is an AIM listed property development and investment company focused on the South East European markets. The Company's strategy is focused on generating healthy investment returns principally derived from: the operation of income generating commercial properties and capital appreciation through investment in high yield real estate assets. The Company is focused primarily on commercial and industrial property in populous locations with blue chip tenants on long term rental contracts. The Company's senior management consists of a team of executives that possess extensive experience in managing real estate companies both in the private and the publicly listed sector, in various European countries.