Portfolio Valuation

13 Mar 2008 13:19

Aisi Realty Public Limited13 March 2008 13 March 2008 Aisi Realty Public Limited ("Aisi" or the "Company") Founding Investment Portfolio Valuation Aisi Realty Public Limited, the property investment group focusing on developingreal estate projects and related investments in Ukraine, is pleased to announcethe valuation of its investment portfolio as of 1st February 2008. As set out in the Company's admission document dated 25 July 2007, the Companyheld interests in five projects at the time of its Admission to AIM ("FoundingInvestment Portfolio"). DTZ, the property consultant, conducted a valuation offour out of the five projects in the Founding Investment Portfolio as at 1stAugust 2007 and also at 1st February 2008 as part of the calculations for thewarrants to be issued to pre-IPO shareholders. The fifth investment in theFounding Investment Portfolio is held as a loan. DTZ have undertaken their valuations (as at 1 August 2007 and 1 February 2008)of the projects in the Founding Investment Portfolio on the basis of 100 percent. ownership of the projects. On this basis the aggregate value of theprojects in the Founding Investment Portfolio as at 1st February 2008 is $67.6 million an increase of $27.1 million, over the valuation of the projectsFounding Investment Portfolio at 1st August 2008 which was $40.5 million. Taking into account the Company's partial ownership interest in the TsymlianskiyLane project and project related costs, the net valuation increase of theCompany's interests in the Founding Investment Portfolio is approximately $12.8million. The number of warrants to be issued will be based upon the net valuationincrease of the Company's interests in the Founding Investment Portfoliotogether with the net sale proceeds received by the Company from the disposal ofits interest in the Tarasovskaya Street project in May 2007. The number ofwarrants to be issued will be announced at the time of completing the audit ofthe Company's financial results and pre-IPO shareholders will be informed oftheir individual entitlement at that time. Commenting on the valuation, director of Aisi, Beso Sikharulidze, said: "TheBoard is very pleased with the performance of the Company's Founding InvestmentPortfolio. The increase in value endorses our approach to quality investmentsand indeed, to Ukraine itself. We continue to explore opportunities to enhancereturns to shareholders." Information on the warrants to be issued to the pre-IPO investors and theCompany's Founding Investment Portfolio is set out in the Company's admissiondocument which is available to be viewed on the Company's website atwww.aisicap.com Enquiries Aisi Realty:Beso Sikharulidze 0038 044 459 3000 Corfin Communications:Neil Thapar, William Cullum 020 7977 0020 Libertas Capital:Andrew Hardy, Aamir Quraishi 020 7569 9650 This information is provided by RNS The company news service from the London Stock Exchange