Secure Property Dev & Inv PLC Board Changes and Formation of Advisory Council (4010M)
08 January 2019 - 12:00AM
UK Regulatory
TIDMSPDI
RNS Number : 4010M
Secure Property Dev & Inv PLC
07 January 2019
Secure Property Development & Investment PLC/ Index: AIM /
Epic: SPDI / Sector: Real Estate
Secure Property Development & Investment PLC ('SPDI' or 'the
Company')
Board Changes and Formation of Advisory Council to the Board
Secure Property Development & Investment PLC, the AIM-quoted
South Eastern European focused property company, announces changes
to its board of directors ("Board"), effective immediately. Michael
Beys (Chairman), Harin Thaker (Vice-Chairman), Ian Domaille
(Non-executive Director), Tony Kaffas (Non-executive) and Lambros
Anagnostopoulos (Chief Executive Officer) will all continue to
serve on the Board, forming a smaller and more efficient Board, as
the Company begins 2019 focused on completing the sale of SPDI's
non-Greek property portfolio for approximately EUR29.25 million in
an all-share transaction ('the Transaction') to Arcona Property
Fund N.V. ('Arcona'). Please see announcement of 18 December 2018
for further details.
The Transaction is expected to close during Q1 2019 and, subject
to completion, will provide SPDI shareholders with exposure to a
dividend-paying, Amsterdam and Prague-listed company with a
diversified portfolio of income producing properties in various
Central and East European countries, valued after closing at ca.
EUR161 million.
The Company also announces the establishment of an Advisory
Council ('the Council') to provide strategic advice and support to
the Board, as it focuses on building a high-return, asset-backed
property company focused on the fast-growing economies and
intercontinental trade routes of South Eastern Europe. The Council
will be comprised of former directors of the Company, namely, Paul
Ensor, Vago Barseghyan, Franz Hörhager, Kalypso Nomikou, and Alvaro
Portela, all of whom have stepped down from the Board effective
immediately, and they will be joined by Emmanuel Blouin, the
Company's investment banking advisor. Colin Chapin's tenure also
ended at last week's AGM, and has therefore left the Board too.
Lambros Anagnostopoulos, Chief Executive Officer of SPDI, said:
"I have been honoured to have worked with and been guided by Vago
Barseghyan, Paul Ensor, Franz Hörhager, Kalypso Nomikou, Alvaro
Portela, and Colin Chapin whom I would like to thank wholeheartedly
for their support and dedication to SPDI."
* * ENDS * *
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014
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 3494
Ritchie Balmer
Jack Botros
Jon Belliss Novum Securities Limited Tel: +44 (0) 207 399 9400
Lottie Wadham St Brides Partners Ltd Tel: +44 (0) 20 7236 1177
Frank Buhagiar
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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