BPD Bulgarian Prop.

RNS Number:2464Z
Bulgarian Property DevelopmentsPLC
28 June 2007

                                        
FOR IMMEDIATE RELEASE                                               28 JUNE 2007
                                                                              

                      BULGARIAN PROPERTY DEVELOPMENTS PLC
                                ("the Company")

(The Group is primarily focussed on the development of commercial property and
in particular building pre-let warehousing, distribution centres and offices)

                    RESULT OF EXTRAORDINARY GENERAL MEETING

At the Extraordinary General Meeting held in London today all resolutions were
passed.

The Company will now issue 34,250,000 new Ordinary Shares which were
conditionally placed with institutional investors at 64 pence per Placing Share
to raise #21.9 million before expenses.

Application will be made for the Placing Shares to be admitted to trading on AIM
and dealings are expected to commence on 3 July 2007. Following admission of
these shares to trading, the number of ordinary shares in issue will be
106,790,657.

It is anticipated that the net proceeds of the Placing will be used to fund the
following:

* Euro13 million for the initial phases of the development and construction of the
  Group's existing projects over the next 12 months; and

* Euro17 million for the acquisition of projects in the Group's pipeline.

It is expected that these funds will be invested over the next twelve months.


Enquiries:

Bulgarian Property Developments
Ivo Hesmondhalgh (Joint Chief Executive)                    +44 (0) 20 7243 1336

Bulgarian Property Developments
Philip Pashov (Joint Chief Executive)                         +359 (0) 963 13 59

Cubitt Consulting
Brian Coleman-Smith / James Versinghe                       +44 (0) 20 7367 5100

Matrix Corporate Capital LLP
Ken Vere Nicoll                                              +44 (0) 20 925 3300






                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
REGUWSVRBURNUAR

Bulgarian Property Developments (LSE:BPD)
Historical Stock Chart
From Jun 2024 to Jul 2024

Bulgarian Property Developments (LSE:BPD)
Historical Stock Chart
From Jul 2023 to Jul 2024