TIDMSPDI
RNS Number : 3939Y
Secure Property Dev & Inv PLC
31 December 2019
31 December 2019
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 certain
executive and non-executive directors, senior management team
members and external advisers have elected to receive new Ordinary
shares in the Company in lieu of certain cash fees accrued.
Accordingly, the Company has issued, in aggregate, 1,920,961 new
Ordinary Shares to these individuals on the following basis:
Issue of new Ordinary Shares pursuant to closing of Stage 1 of
the transaction with Arcona Property Fund
1,219,000 new Ordinary Shares have been issued at a price of
GBP0.24 per new Ordinary Share to certain advisers in lieu of
certain cash fees for services offered to the Company during 2019
for assistance in closing Stage 1 of the transaction with Arcona
Property Fund, as well as to certain executives in lieu of a bonus
for the same reason. Michael Beys (the Chairman of the Company) and
Lambros Anagnostopoulos (a director of the Company and the CEO) are
among the recipients of 165,000 and 553,000 new Ordinary Shares,
respectively.
Issue of new Ordinary Shares to Non-Executive Directors in lieu
of accrued fees
261,100 new Ordinary Shares have been issued at a price of
GBP0.24 per new Ordinary Share to the Company's Non-Executive
directors who were in office in 2019 in lieu of cash fees accrued
in 2019.
The Company has also issued 176,576 new Ordinary Shares at a
price of GBP0.35 per new Ordinary Share to the Non-Executive
Directors at the time in lieu of outstanding liabilities of the
Company from relevant fees accrued during the period up to 2016.
Consequently all accrued past directors fees are now been paid.
Issue of new Ordinary Shares to adviser and senior management
team member for services
200,000 new Ordinary Shares have been issued at a price of
GBP0.24 per new Ordinary Share to SPDI's adviser, Emmanuel Blouin,
in lieu of cash fees for services offered to the Company in 2019,
as well as 64,285 new Ordinary Shares at a price of GBP0.24 per new
Ordinary Share to a member of its senior management team, George
Dopoulos, in lieu of compensation for services rendered in
2018.
Director Shareholdings, Admission to Trading and Total Voting
Rights
Pursuant to the above, a total of 1,920,961 new Ordinary Shares
have been issued, of which 553,000 have been allocated to the
Executive Director and 490,677 have been allocated to the
Non-Executive Directors of the Company currently in office, as set
out in the below table:
Name New Shares Previous Enlarged Enlarged
issued holding of holding of holding percentage
Ordinary Ordinary
Shares Shares
Lambros Anagnostopoulos 553,000 448,092 1,001,092 0.77%
----------- ------------ ------------ --------------------
Ian Domaille 95,013 719,975 814,988 0.63%
----------- ------------ ------------ --------------------
Harin Thaker 82,541 214,651 297,192 0.23%
----------- ------------ ------------ --------------------
Michael Petros
Beys 221,000 258,976 479,976 0.37%
----------- ------------ ------------ --------------------
Antonios Kaffas 92,123 251,709 343,832 0.27%
----------- ------------ ------------ --------------------
Total 1,043,677 1,893,403 2,937,080 2.27%
----------- ------------ ------------ --------------------
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 31 December 2018.
Application has been made for the 1,920,961 new Ordinary Shares
to be admitted to trading on AIM ("Admission") and it is expected
that Admission will become effective on 08 January 2020. Following
Admission, there will be a total of 129,191,442 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 Limited Tel: +44 (0) 20 7409
Ritchie Balmer 3494
Jack Botros
Jon Belliss Beaufort Securities Tel: +44 (0) 20 7382
Elliot Hance Limited 8300
Frank Buhagiar / Megan St Brides Partners Tel: +44 (0) 20 7236
Dennison Ltd 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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