Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSecure Prop Regulatory News (SPDI)

Share Price Information for Secure Prop (SPDI)

Share Price is delayed by 15 minutes
Get Live Data
1.15    0.00 (0.00%)
Bid:
0.80
Ask:
1.50
Spread: 0.70 (87.50%)
Market Cap: £1.49m
SPDI Live PriceLast checked at - London Stock Exchange

Intraday Secure Prop Share Chart

Portfolio Update

8 Sep 2014 07:00

RNS Number : 0185R
Secure Property Dev & Inv PLC
08 September 2014
 



Secure Property Development and Investment Limited PLC

("Secure" or the "Company")

 

Portfolio Update

Substantially increased Asset Value and Income

 

08 September 2014. Secure Property Development and Investment PLC (AIM:SPDI, www.secure-property.eu), a South Eastern Europe focused property investment company, today provides a market update following the four acquisitions it has announced since May 2014, which have substantially changed the Company's asset value and profile.

Secure's gross asset value, based on third party independent valuations, has more than doubled to circa US$112 million as of today from US$49 million at the end of December 2013.

Consequently, the percentage of the Company's asset base (measured by gross asset value) that is now income producing has increased by a third and reached 80% of the total, compared with only 59% at the end of December 2013. The remaining proportion of the Company's asset base is held in its non-income producing but high upside-potential land bank which as of now stands at 20% of total assets.

In line with Secure's stated strategy, we have made significant progress with broadening the geographical diversity of the Company's asset base with 55% of its gross asset value now located in Romania and Greece, and the balance in Ukraine.

The Company's annualised net operating income ("NOI") is currently approximately US$8 million, more than 60% of which is generated by assets located in Romania and Greece. This is 2.6 times higher than the full year NOI for 2013 (US$3million), all of which was generated by assets situated in Ukraine.

In Summary during the last six months the Company has:

· Increased its gross asset value by 230%

· Increased its annualised net operating income by 270%

· Increased the percentage of income producing assets in its portfolio by 30%

· Increased the geographical diversification of holding income assets (# of countries) by 300%

 

Lambros Anagnostopoulos, Chief Executive Officer of Secure Property, commented: "We have made significant progress in implementing our strategy, which remains focused on growth and diversification. We have executed four acquisitions in Romania and Greece in a short space of time, which has dramatically increased our gross asset value and net operating income. Our expectations for the half year are unchanged, and we will continue sourcing acquisitions in the region of South Eastern Europe, focusing on undervalued but good income producing assets, and creating value for shareholders."

 

 

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

Nick Taylor

 

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
PFUVDLFBZKFLBBK
Date   Source Headline
31st Aug 20211:43 pmRNSDirector/PDMR Notification
1st Jul 20217:00 amRNSShareholder Call
30th Jun 20217:00 amRNS2020 Annual Results
14th Jun 20217:00 amRNSUpdate on Arcona Property Fund N.V. Agreement
17th May 20217:00 amRNSCorporate Update
30th Dec 202012:45 pmRNSResult of AGM
8th Dec 20207:00 amRNSNotice of Annual General Meeting
30th Oct 20207:00 amRNSHalf-year Report
30th Sep 20209:05 amRNSFinal Results
14th Jul 20207:00 amRNSShareholder Call
11th Jun 20207:00 amRNSCorporate update & Accounts Publication Extension
31st Dec 201911:15 amRNSResult of AGM
31st Dec 201910:30 amRNSIssue of New Ordinary Shares & Total Voting Rights
6th Dec 201912:15 pmRNSTransfer of Bulgarian Assets & Shareholder Call
6th Dec 20197:00 amRNSNotice of AGM
1st Nov 20194:31 pmRNSTransfer of Ukraine property assets to Arcona
30th Sep 20197:00 amRNSHalf-year Report
22nd Aug 20197:00 amRNSCompletion of Sale of Greek Asset
7th Aug 20197:00 amRNSUpdate on Arcona Property Fund N.V. Agreement
25th Jul 20197:00 amRNSShareholding Notification
9th Jul 201912:32 pmRNSSale of Greek Asset
28th Jun 20191:30 pmRNS2018 Audited Annual Results
24th May 20197:00 amRNSArcona Property Fund N.V. Agreement Update
28th Mar 201912:15 pmRNSUpdate on Sale of Assets to Arcona & Investor Call
25th Mar 20197:00 amRNSShareholder Call
7th Jan 20191:00 pmRNSBoard Changes and Formation of Advisory Council
31st Dec 201810:43 amRNSResult of AGM
18th Dec 20187:00 amRNSSale of Assets to Arcona Property Fund N.V.
7th Dec 20182:00 pmRNSNotice of AGM
5th Oct 20187:00 amRNSSale of BigBlueBox
28th Sep 20183:17 pmRNSHalf-year Report
29th Jun 201811:40 amRNSFinal Results
4th Jun 20187:00 amRNSBoard Changes
25th May 20184:24 pmRNSHolding(s) in Company
25th May 20184:22 pmRNSHolding(s) in Company
15th May 201810:15 amRNSAppointment of Joint Broker
5th Apr 20189:45 amRNSBoard Appointments
2nd Mar 20184:03 pmRNSStatement re broker
27th Feb 20187:00 amRNSDisposal of Residential Units Gains Momentum
19th Feb 20187:00 amRNSGrowth in Net Asset Value of Property Portfolio
26th Jan 20183:41 pmRNSIssue of New Ordinary Shares & Total Voting Rights
17th Jan 20184:15 pmRNSShareholder Loan
29th Dec 201710:43 amRNSResult of AGM
6th Dec 20175:08 pmRNSNotice of AGM
10th Oct 20177:00 amRNSProposed acquisition of logistics properties
28th Sep 20173:00 pmRNSHalf-Year Report
26th Jul 20177:00 amRNSProfitable Disposal of Land in Bucharest
4th Jul 20177:00 amRNSConditional Sale of Development Land in Kiev
30th Jun 20171:15 pmRNSExercise of warrants
28th Jun 20177:00 amRNSFinal Results

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.