Open Offer Update

RNS Number : 5260H

Secure Property Dev & Inv PLC

16 March 2015

 



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                 [phone]

Lambros Anagnostopoulos                                                                

Constantinos Bitros

SP Angel Corporate Finance LLP                                                  [phone]

Tercel Moore                                                                                      

Jeff Keating

FTI Consulting                                                                                 [phone]

Richard Sunderland

 

END

 

 

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