REG - Secure Property Dev - Update on Ukraine Assets

Secure Property Development & InvestmentAnnouncement

04/03/2022 16:15

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RNS Number : 7452D  Secure Property Dev & Inv PLC  04 March 2022

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

 4 March 2022

 

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

 

Update on Ukraine Assets

 

Secure Property Development & Investment PLC, the AIM quoted South Eastern
European focused property company,  advises that in light of the unfolding
military events  in Ukraine, it has temporarily closed its Ukrainian
office and is housing some family members of its Ukrainian staff
in the Company's accommodation in Romania.

 

The Company's assets in Ukraine consist of land plots in the wider Kiev
region, and as such the financial impact of the invasion is expected to be
minimal on the Company. Two of the land plots are the subject of Stage 2 of
the ongoing transaction with Arcona, and discussions with Arcona in this
regard are occurring as per Arcona Property Fund N.V.'s press release of 24
February 2022. Further updates will be provided as and when appropriate.

 

Our thoughts and prayers are with the people suffering, and our sincere hope
is that all is resolved sooner rather than later.

 

**ENDS**

For further information please visit www.secure-property.eu
(http://www.secure-property.eu/#_blank)  or contact:

 

 Lambros Anagnostopoulos  SPDI                       Tel: +357 22 030783

 Rory Murphy              Strand Hanson Limited      Tel: +44 (0) 20 7409 3494

 Ritchie Balmer

 Robert Collins

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

 Catherine Leftley        St Brides Partners Ltd     Tel: +44 (0) 20 7236 1177

 Isabelle Morris

 

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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