2023 Annual Results

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[{"type":"text","content":"\n\nSecure Property Development & Invest PLC/ Index: AIM / Epic: SPDI / Sector: Real Estate\n \n28 June 2024\n \nSecure Property Development & Investment PLC ('SPDI' or 'the Company')\n2023 Annual Results\n \nSecure Property Development & Investment PLC, the AIM quoted South Eastern European focused property company, is pleased to announce its full year audited financial results for the year ended 31 December 2023. \n \nHighlights\n \n·    Advanced strategy to maximise shareholder value by working towards the contribution of Ukrainian assets to Arcona Property Fund N.V. as part of the larger transaction, with finalisation expected in Q3 2024.\n·    The Company externalised HR and office costs, through an agreement with a Cyprus-based advisory company, expected to further reduce annual costs by 35% to 50% compared to 2021 and 2020 levels.\n·    The Company settled the longstanding claim vis a vis Bluehouse Capital, removing the relevant provision, thus generating a one-off profit of ~€2 million.\n·    Consequently, NAV per share increased by 40% to €0.14 from €0.10.\n·    The Romanian economy saw strong growth of 2.1%, a decrease in inflation to 9.7%, and a marginal reduction in unemployment to 5.5%.         \n \nCopies of the Annual report and Accounts are being posted to Shareholders today and are available on the Company's website at www.secure-property.eu.\n \n* * ENDS * *\n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014\n \nFor further information please visit www.secure-property.eu or contact:\n \n\n\n\n\nLambros Anagnostopoulos\n\n\nSPDI\n\n\nTel: +357 22 030783\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \nRory Murphy\nRitchie Balmer\n \n\n\n \nStrand Hanson Limited\n\n\n \nTel: +44 (0) 20 7409 3494\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \nJon Belliss\n \nSusie Geliher\n \n\n\n \nNovum Securities Limited\n \nSt Brides Partners Ltd\n\n\n \nTel: +44 (0) 207 399 9400\n \nTel: +44 (0) 20 7236 1177\n\n\n\n\n \n \n1.     Letter to Shareholders\n2023 experienced further market disruption with one war continuin...

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