Issue of Equity to Directors and Advisers

About this update from Secure Property Development & Investment Plc

[{"type":"text","content":"\n \nRNS Number : 0597F Secure Property Dev & Inv PLC 15 May 2017  \n\nSecure Property Development & Invest PLC/ Index: AIM / Epic: SPDI / Sector: Real Estate\n \nSecure Property Development & Investment PLC \n('SPDI' or 'the Company')\n15 May 2017\nIssue of Equity to directors and advisers at 100% premium \n \nSecure Property Development and Investment PLC (AIM: SPDI), the South Eastern European focused property and investment company, announces the issue of new ordinary shares to the Non-executive directors of the Company who were in office in 2015 in lieu of fees accrued in 2015.  The new shares are to be issued at £0.35 per share, which represents a 100% premium to the closing share price on 12 May 2017.  \n \nThe Company has also issued a number of new ordinary shares to an adviser in lieu of fees for services offered in 2017.  Pursuant to the above, a total of 626,133 new ordinary shares will be issued, of which Non-executive Directors will receive 519,474 shares and third party advisers and former directors will receive 106,659 shares.  The new ordinary shares are to be allocated as follows:\n \n\n\n\n\nName\n\n\nNumber of Shares\n\n\n\n\nIan Domaille\n\n\n93,429\n\n\n\n\nHarin Thaker\n\n\n70,507\n\n\n\n\nFranz Hoerhager\n\n\n68,571\n\n\n\n\nPaul Ensor\n\n\n68,571\n\n\n\n\nAlvaro Portela\n\n\n68,571\n\n\n\n\nAntonios Kaffas\n\n\n78,857\n\n\n\n\nVagharshak Barseghyan\n\n\n35,484\n\n\n\n\nKalypso Maria Nomikou \n\n\n35,484\n\n\n\n\nAdvisors & Ex- directors\n\n\n106,659\n\n\n\n\n \nThe 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 30 December 2016.\n \nApplication has been made for the 626,133 new ordinary shares to be admitted to trading on AIM (\"Admission\") and it is expected that Admission will be effective on 18 May 2017. Following Admission, there will be a total of 90,640,856 ordinary shares in issue. This figure may be used by shareholders as the denominator for the calculations by w...

More updates from Secure Property Development & Investment Plc