REG - Secure Property Dev - Sale of Romanian Logistics Portfolio

Secure Property Development & InvestmentAnnouncement

06/10/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251006:nRSF0678Ca&default-theme=true

RNS Number : 0678C  Secure Property Dev & Inv PLC  06 October 2025

Secure Property Development & Invest PLC / Index: AIM / EPIC: SPDI /
Sector: Real Estate

 

Secure Property Development & Investment PLC ("SPDI" or "the Company")

 

Sale of Romanian Logistics Portfolio

 

Secure Property Development and Investment Limited (AIM: SPDI), the South
Eastern European focused property company, is pleased to announce that it has
sold its interest in the logistics platform it has in Romania (the "Logic"
portfolio) to Myrnes Limited, a Cyprus registered company owned by eleven
investors / legal entities, including four of SPDI's directors, Michael Beys,
Harin Thaker, Ian Domaille and Lambros Anagnostopoulos, who in aggregate own
37% of the company.

 

The consideration paid to SPDI for the Logic portfolio is €2,250,000, which
has been fully received and used to repay most of SPDI's current liabilities
(including the 2018 Bond).

 

The Logic portfolio consists of a 50% interest in a special purpose vehicle
("SPV") called SEC-NESS LOGICO PROPERTIES LIMITED ("SEC-NES"), which will be
the owner of two logistics terminals under development in Oradea and Costanta,
both let to RetuRO srl, as well as the income generating Innovations Terminal.
The remaining 50% of SEC-NES is owned by the 50/50 SPV joint venture partner,
Myrian Nes Ltd ("MNL") (as announced on 26 August 2022).

 

As was noted in the Company's H1 2025 interim results, and as part of this
transaction, the Company sold 50% of its interest in the Innovations Terminal
to MNL earlier in 2025, which in turn has contributed it into SEC-NES
(alongside SPDI's remaining 50% share). SPDI has already received part payment
of €750,000 from MNL for the disposal of this 50% stake in the Innovations
Terminal, with a further €750,000 to be deferred into 2026 as part of the
agreement.

 

Related Party Transaction

The sale of the Company's interest in the Logic portfolio is regarded as a
related party transaction for the purposes of AIM Rule 13 of the AIM Rules for
Companies due to the collective interest that four of the Company's directors
own in Myrnes Limited. Accordingly, the Independent Director, being Antonios
Kaffas, considers, having consulted with Strand Hanson Limited, the Company's
Nominated Adviser, that the terms of the sale are fair and reasonable in so
far  as the Company's shareholders are concerned.

 

Schedule Four Disclosure

As at 30 June 2025, SPDI attributed a NAV to the assets making up the Logic
portfolio of, in aggregate, approximately €4 million. During H1 2025, the
assets making up the Logic portfolio generated a loss before tax of, in
aggregate, approximately €40k. All figures are currently unaudited.

 

Disposal of Ukrainian land asset

The Company also announces that, earlier this week, it sold SC SECURE Capital
Ltd., the company owning the Rozhny land asset outside Kiev for a
consideration of $255,000. Such payment is be received in two tranches, 70% of
it to be received next week and the remaining 30% in 2026.

 

SPDI Chairman of the Board, Michael Beys, commented, "The Logic sale, that
includes both a standing asset and two properties under development,
reflecting SPDI's 50% of such portfolio generates a substantial capital inflow
for SPDI to be able to address a number of existing liabilities and follows an
extended effort by the Company to monetise said properties. Despite the
construction risk associated with the two properties under development, as
well as the cash flow delays experienced in the income generating asset of the
portfolio, I am pleased to announce the final sale generates further value for
our shareholders."

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

* * 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 3494

 Ritchie Balmer
 Jon Belliss              Novum Securities Limited   Tel: +44 (0) 207 399 9400

 Susie Geliher            St Brides Partners Ltd    Tel: +44 (0) 20 7236 1177

 Charlotte Page

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DISEXLFBEBLLFBX