Secure Property Dev & Inv PLC Exercise of warrants (2190U)
July 27 2015 - 12:00PM
UK Regulatory
TIDMSPDI
RNS Number : 2190U
Secure Property Dev & Inv PLC
27 July 2015
Secure Property Development & Invest PLC/ Index: AIM / Epic:
SPDI / Sector: Real Estate
27 July 2015
Secure Property Development & Investment PLC ('SPDI' or 'the
Company')
Exercise of warrants and extension of warrant exercise
period
Secure Property Development & Investment PLC, the AIM quoted
property company focused on Emerging Europe, announces that it has
received valid notices of exercise from holders of 8,785,580 of the
18,028,294 warrants (48.73%) that were issued as part of the
consideration for the purchase of certain assets as announced on 11
June 2015. Each warrant entitles the warrant holder to purchase one
ordinary share in SPDI at an exercise price of 10 pence per
warrant.
Valid notices of exercise have been received, inter alia, from:
Ionian Equity Participations Limited, a substantial shareholder in
the Company, in respect of 2,995,360 warrants; an entity in which
Lambros Anagnostopoulos (the CEO and a director of the Company) has
a majority stake in respect of 716,014 warrants; and, Constantinos
Bitros (the CFO of the Company) in respect of 98,010 warrants.
The Company also announces that, as a result of prevailing Greek
capital controls preventing certain of the warrant holders from
being able to lodge funds pursuant to valid exercise, the Board of
SPDI has agreed to extend the date by which these warrants may be
exercised from 25 July 2015 to 6 August 2015.
The warrants referred to above form part of the consideration
issued to purchase a series of property assets as described in the
Company's announcement of 21 May 2015. As noted in the Company's
announcement of 8 June 2015, assuming full exercise of all the
warrants and conversion of the Redeemable Convertible Preference
Shares (which were issued as part of such consideration) the
blended issuance price of all equity instruments forming the total
consideration for the purchase of the series of assets is 45 pence
per share.
Application will be made for the new 8,785,580 ordinary shares
to be admitted to trading on AIM ("Admission") and it is expected
that Admission will be effective on 31 July 2015. Following
Admission, the Company will have a total of 84,475,676 ordinary
shares in issue. The new ordinary shares will be credited as fully
paid and will rank pari passu with the existing ordinary shares,
including the right to receive all dividends and other
distributions declared in respect of such shares.
* * ENDS * *
For further information please visit www.secure-property.eu or
contact:
Lambros Anagnostopoulos SPDI Tel: +30-210-7226470
Constantinos Bitros SPDI Tel: +30-210-7226470
Tercel Moore SP Angel Corporate Finance Tel: +44 (0) 20 3463
LLP 2260
Jeff Keating SP Angel Corporate Finance Tel: +44 (0) 20 3463
LLP 2260
Lottie Brocklehurst St Brides Partners Ltd Tel: +44 (0) 20 7236
1177
Frank Buhagiar St Brides Partners Ltd Tel: +44 (0) 20 7236
1177
Notes
Secure Property Development and Investment plc is an AIM listed
property development and investment company focussed on the East
and Southeast European markets. The Company's strategy is focussed
on generating healthy investment returns principally derived from:
the operation of income generating commercial properties and
capital appreciation through investment in high yield real estate
assets. The Company is focussed primarily on commercial and
industrial property in populous locations with blue chip tenants on
long term rental contracts. The Company's senior management
consists of a team of executives that possess extensive experience
in managing real estate companies both in the private and the
publicly listed sector, in various European countries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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