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Secure Property Development successfully places 330,000 ordinary shares

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Secure Property Development and Investment Limited, formerly Aisi Realty Public Limited (AIM: AISI), a South Eastern European focused property and investment company, has successfully placed 333,000 new ordinary shares of EUR0.01 each in the Company ("Ordinary Shares") at a price of 95 pence per share, with an existing institutional investor, which will now own 561,652 Ordinary Shares in the Company (or 5.52 per cent of the enlarged total voting rights of the Company).

The placing proceeds will be used to provide additional working capital for the Company’s business. The capital injection follows a number of successful turnaround initiatives which have been implemented by the new internal management to position the Company for growth, as reported in the Company’s 2011 annual results announced on 12 March 2012.

The placing follows shareholder approval, which was obtained at the Company’s General Meeting held on 17 July 2011, for the issuance of up to 2,619,790 additional Ordinary Shares at 95 pence.  Pursuant to which, the Company has raised to date approximately USD1.35 million in aggregate.

Application has been made for the 333,000 new Ordinary Shares to be admitted to trading on AIM (Admission) and it is expected that Admission will be effective from 29 May 2012.  Following Admission, there will be a total of 10,172,975 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 FSA’s Disclosure and Transparency Rules.

The Company’s name change to Secure Property Development and Investment Limited is subject to shareholder approval at the next Annual General Meeting.

Lambros Anagnostopoulos, the Company’s Chief Executive Officer, says: “Having made significant improvements across all areas of the business, these new funds are yet further confirmation of our existing shareholders’ support for both our efforts to turnaround the Company and its prospects for future performance.”

 

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