SECURE PROPERTY DEVELOPMENT & INVESTMENT PLC

Major Shareholding Notification • Dec 31, 2019

National Storage Mechanism | Additional information

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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 £0.24 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 £0.24 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 £0.35 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 £0.24 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 £0.24 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 issued	Previous holding of Ordinary Shares	Enlarged holding of Ordinary Shares	Enlarged holding percentage
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 Ritchie Balmer Jack Botros	Strand Hanson Limited	Tel: +44 (0) 20 7409 3494
Jon Belliss Elliot Hance	Beaufort Securities Limited	Tel: +44 (0) 20 7382 8300
Frank Buhagiar / Megan Dennison	St Brides Partners Ltd	Tel: +44 (0) 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.

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