TIDMSPDI
RNS Number : 1052D
Secure Property Dev & Inv PLC
26 January 2018
Secure Property Development & Invest PLC/ Index: AIM / Epic:
SPDI / Sector: Real Estate
26 January 2018
Secure Property Development & Investment PLC
('SPDI' or 'the Company')
Issue of New Ordinary Shares and Total Voting Rights
Secure Property Development & Investment PLC, the AIM-quoted
property company focused on Emerging Europe, announces that further
to the Company's announcement on 10 October 2017, it has received
notice of exercise of 17,066,560 warrants (at a price of GBP0.10
per warrant) from the holders of the Instrument (as defined in the
10 October 2017 announcement). Accordingly, 17,066,560 new ordinary
shares in the Company ("Ordinary Shares") shall be issued and
admitted to trading on AIM.
Following this exercise, there are no more warrants outstanding
pursuant to the Instrument.
Certain of the warrants were exercised by the three directors of
the Company who participated in the Instrument either directly or
through connected entities. Accordingly, an entity in which Lambros
Anagnostopoulos (a Director of the Company and the CEO) has a
majority stake in; two entities in which Kalypso Nomikos (a
Director of the Company) has a stake in and Ian Domaille (a
Director of the Company) who participated directly are beneficially
entitled to 819,000, 1,507,458 and 286,000 new Ordinary Shares,
respectively ("Director Warrant Shares").
Issue of Director Fee Shares and option exercise
The Company further announces the issue of 344,371 new Ordinary
Shares to the Non-Executive Directors of the Company who were in
office in 2016 in lieu of fees accrued in 2016 (the "Director Fee
Shares"). The Director Fee Shares have been issued at GBP0.35 per
new Ordinary Share. Please refer to the below table for the
allocation of the Director Fee Shares.
The Company also announces the issue of 10,000 new Ordinary
Shares to an ex-employee of the Company, who exercised 10,000
options held over Ordinary Shares (exercisable at GBP0.15 per
share).
Issue of new Ordinary Shares to certain advisers
The Company has also issued 6,260,000 new Ordinary Shares (at an
average price of GBP0.10 per new Ordinary Share) to certain
advisers in lieu of cash fees for services offered to the Company
in 2017 for raising capital and facilitating capital markets
strategies.
Narrowpeak Consultants Limited ("Narrowpeak"), an existing
shareholder of the Company, will receive 2,660,000 new Ordinary
Shares ("Narrowpeak Fee Shares") and following this, will have an
interest in 9.72 per cent. of the enlarged share capital of the
Company.
Lambros Anagnostopoulos, a Director of the Company and CEO, has
an indirect interest in Narrowpeak of approximately 15.38 per cent.
and is therefore entitled to 409,002 of the Narrowpeak Fee Shares.
Mr Anagnostopoulos, also owns 448,092 Ordinary Shares in his own
name.
PIRAEUS PARTNERS LLC, which participated in the Instrument and
exercised 9,708,598 warrants (at a price of GBP0.10 per warrant),
will also receive 3,250,000 new Ordinary Shares, taking its total
holding of Ordinary Shares in SPDI to 12,958,598 Ordinary Shares,
representing 10.18% of the enlarged share capital of the
Company.
Director Shareholdings, Admission to Trading and Total Voting
Rights
Pursuant to the above, a total of 23,680,931 new Ordinary Shares
will be issued, of which 2,137,829 are to be allocated to
Non-Executive Directors of the Company as set out in the below
table.
Name Director Director Enlarged Enlarged
Warrant Fee Shares holding holding
Shares issued of Ordinary percentage
issued Shares
-------------- ---------- ------------ ------------- ------------
Ian Domaille 286,000 54,500 719,975 0.57%
-------------- ---------- ------------ ------------- ------------
Harin
Thaker n/a 43,871 214,651 0.17%
-------------- ---------- ------------ ------------- ------------
Franz
Hoerhager n/a 40,000 285,575 0.22%
-------------- ---------- ------------ ------------- ------------
Paul Ensor n/a 40,000 311,597 0.24%
-------------- ---------- ------------ ------------- ------------
Alvaro
Portela n/a 40,000 208,844 0.16%
-------------- ---------- ------------ ------------- ------------
Antonios
Kaffas n/a 46,000 251,709 0.20%
-------------- ---------- ------------ ------------- ------------
Vagharshak
Barseghyan n/a 40,000 75,484 0.06%
-------------- ---------- ------------ ------------- ------------
Kalypso
Maria
Nomikos 1,507,458 40,000 1,582,942 1,24%
-------------- ---------- ------------ ------------- ------------
Total 1,793,458 344,371 3,650,777 2.87%
-------------- ---------- ------------ ------------- ------------
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 after the date of their issue. Approval for
the issue of the new Ordinary Shares on a non-pre-emptive basis was
obtained at the Annual General Meeting of the Company's
shareholders held on 30 December 2016.
Application has been made for the 23,680,931 new Ordinary Shares
to be admitted to trading on AIM ("Admission") and it is expected
that Admission will become effective on 1 February 2018. Following
Admission, there will be a total of 127,270,481 Ordinary Shares in
issue. This figure may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the Company under the FCA's Disclosure and Transparency
Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
* * ENDS * *
For further information please visit www.secure-property.eu or
contact:
Lambros Anagnostopoulos SPDI Tel: +357 22
030783
Rory Murphy Strand Hanson Tel: +44 (0)
Ritchie Balmer Limited 20 7409 3494
Jack Botros
Jon Belliss Beaufort Securities Tel: +44 (0)
Elliot Hance Limited 20 7382 8300
Lottie Wadham St Brides Partners Tel: +44 (0)
Frank Buhagiar Ltd 20 7236 1177
Notes to Editors
Secure Property Development and Investment plc is an AIM listed
property development and investment company focused on the South
East European markets. The Company's strategy is focused 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 focused 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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