AGM Statement

RNS Number : 6050K

Secure Property Dev & Inv PLC

31 December 2015

 

Secure Property Development & Invest PLC/ Index: AIM / Epic: SPDI / Sector: Real Estate

31 December 2015

Secure Property Development & Investment PLC ('SPDI' or 'the Company')

AGM Statement

Secure Property Development and Investment Limited, (AIM: SPDI), a South Eastern European focused property and investment company, held its Annual General Meeting ("AGM") today at 11:00 a.m., at Kiriakos Matsis 16, Ag Omologites, Nicosia, Cyprus.  All resolutions at the AGM were duly passed.

At the AGM, SPDI CEO Lambros Anagnostopoulos made the following statement:

"The 2015 calendar year has been a transformational period for SPDI.  We have undergone a structural shift which has seen us build a portfolio of prime real estate with a broad geographic spread, highly attractive yields and significant capital growth potential.  We have grown the business from one income producing property in one country in 2013, to our current portfolio which now includes six properties covering four South Eastern European countries with blue chip tenants, generating significant cash return for our shareholders.   As a result our Assets Under Management ('AUM') now amount to EUR126 million.

"Despite the strong asset backing we have secured this year, it is clearly evident that our current share price is trading at a significant discount to the net asset value of our existing properties.  We expect this disconnect to narrow as the income generating capability of our existing portfolio becomes apparent.  At the same time, we will continue to identify and invest in highly attractive growth opportunities in the real estate market whilst maintaining our focus on efficient asset management as we look to repeat the successes of 2015, and continue into the New Year with yet another positive and growing EBITDA.

"I would like to take this opportunity to thank our shareholders for their continued support throughout the year.  This was further demonstrated by the raising of EUR8 million via an open offer in March which has helped facilitate our progress in 2015.  I wish you all a Happy New Year and look forward to 2016 and beyond as we continue to focus on our goal to become a leading institutional SEE focused dividend yielding company."

* * ENDS * *

For further information please visit www.secure-property.eu or contact:

Lambros Anagnostopoulos SPDI Tel: [phone] Constantinos Bitros Tercel Moore SPDI SP Angel Corporate Finance LLP Tel: [phone] Tel: [phone] Jeff Keating SP Angel Corporate Finance LLP Tel: [phone] Lottie Brocklehurst St Brides Partners Ltd Tel: [phone] Frank Buhagiar St Brides Partners Ltd Tel: [phone]

 

END

 

 

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