Last checked at 16 Mar 2015 11:14
16 March 2015
Secure Property Development and Investment Limited PLC (SPDI.L)
("Secure" or the "Company")
SECURE Property raises €8 million from Open Offer:
OPEN OFFER UPDATE
Subsequent to the Company's statement on 13th March that it has successfully raised €8 million through an Open Offer, Secure announces today that its Board has agreed to accept a small number of late, but otherwise valid, applications for 333 New Ordinary Shares. This brings the total number of New Ordinary Shares to be issued under the Open Offer to 23,777,748.
Following Admission of the New Ordinary Shares, the Company's total issued and voting share capital will comprise 57,661,802 ordinary shares.
The net proceeds of the Open Offer will primarily be deployed in acquiring, or securing the acquisition of, income generating industrial, retail and commercial property assets in Bulgaria, Romania and Greece. The Company continues to target income producing assets that enjoy high acquisition yields and are expected to generate double digit cash on cash returns.
- Ends -
SECURE PROPERTY Development & Investment plc +30-210-7226470
Lambros Anagnostopoulos
Constantinos Bitros
SP Angel Corporate Finance LLP +44 (0) 20 3463 2260
Tercel Moore
Jeff Keating
FTI Consulting +44 (0) 20 3727 1000
Richard Sunderland