Portfolio Valuation

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[{"type":"text","content":"\n Aisi Realty Public Limited\n13 March 2008\n\n\n13 March 2008\n\n Aisi Realty Public Limited\n ('Aisi' or the 'Company')\n\n Founding Investment Portfolio Valuation\n\nAisi Realty Public Limited, the property investment group focusing on developing\nreal estate projects and related investments in Ukraine, is pleased to announce\nthe valuation of its investment portfolio as of 1st February 2008.\n\nAs set out in the Company's admission document dated 25 July 2007, the Company\nheld interests in five projects at the time of its Admission to AIM ('Founding\nInvestment Portfolio'). DTZ, the property consultant, conducted a valuation of\nfour out of the five projects in the Founding Investment Portfolio as at 1st\nAugust 2007 and also at 1st February 2008 as part of the calculations for the\nwarrants to be issued to pre-IPO shareholders. The fifth investment in the\nFounding Investment Portfolio is held as a loan.\n\nDTZ have undertaken their valuations (as at 1 August 2007 and 1 February 2008)\nof the projects in the Founding Investment Portfolio on the basis of 100 per\ncent. ownership of the projects. On this basis the aggregate value of the\nprojects in the Founding Investment Portfolio as at 1st February 2008 is \n$67.6 million an increase of $27.1 million, over the valuation of the projects\nFounding Investment Portfolio at 1st August 2008 which was $40.5 million.\n\nTaking into account the Company's partial ownership interest in the Tsymlianskiy\nLane project and project related costs, the net valuation increase of the\nCompany's interests in the Founding Investment Portfolio is approximately $12.8\nmillion.\n\nThe number of warrants to be issued will be based upon the net valuation\nincrease of the Company's interests in the Founding Investment Portfolio\ntogether with the net sale proceeds received by the Company from the disposal of\nits interest in the Tarasovskaya Street project in May 2007. The number of\nwarrants to be issued will be announced at the time of completing the audit of\nthe Company's financial results and pre-IPO shareholders will be informed of\ntheir individual entitlement at that time.\n\nCommenting on the valuation, director of Aisi, Beso Sikharulidze, said: 'The\nBoard is very pleased with the performance of the Company's Founding Investment\nPortfolio. The increase in value endorses our approach to ...

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