Business
Proposed Transaction Update & Trading Restoration
Secure Property Development & Investment PLC (SPDI) has announced an update to its proposed transaction with Adven Inc. UK Ltd, where Adven will now acquire SPDI, leading to Adven's admission to AIM and a subsequent share exchange with SPDI shareholders, followed by SPDI's cancellation from AIM. The estimated value of SPDI in these share purchase agreements is €2 million, and SPDI shareholders have the opportunity to invest up to £2 million in Adven at a discount. SPDI's cash and receivables stood at approximately €1.65 million as of March 31, 2026, with borrowings of around €1.2 million, providing sufficient working capital. The company's shares are expected to be restored to trading on AIM today. Disclaimer*
About this update from Secure Property Development & Investment Plc
Secure Property Development & Invest PLC/ Index: AIM / Epic: SPDI / Sector: Real Estate 7 April 2026 Secure Property Development & Investment PLC ('SPDI' or 'the Company') Adven Proposed Transaction Update and Restoration to Trading Secure Property Development and Investment PLC (AIM: SPDI), the South Eastern European focused property and investment company, announces the following: Further to the Company's announcements on 5 November 2025 and 5 March 2026, the Company and Adven Inc. UK Ltd ("Adven") announce that they have now signed an amended heads of terms, changing the proposed transaction structure so that it is now proposed Adven will acquire SPDI. Accordingly, the proposed transaction no longer constitutes a reverse takeover pursuant to the AIM Rules for Companies but rather is proposed to involve the admission to trading on AIM of Adven ("Admission") followed shortly thereafter by the issuance of new ordinary shares in the share capital of Adven to SPDI shareholders in exchange for the sale of their SPDI shares to Adven, and a follow-on intended cancellation from trading on AIM of SPDI (the "Potential Transaction"). In order to facilitate the share exchange, Adven proposes to enter in to share purchase agreements ("SPAs") with at least 51% of the SPDI shareholders. SPDI has agreed to use reasonable endeavours to procure that 75% of SPDI shareholders sign SPAs. The value of the whole of SPDI in these SPAs is expected to be approximately €2 million. The structure of the Potential Transaction has been changed in order to enable Adven to raise EIS qualifying funds prior to the conclusion of the Potential Transaction closing whilst maintaining the potential for SPDI shareholders to participate in the growing energy storage sector. The Potential Transaction remains subject to a number of factors including but not limited to the completion of due diligence to the satisfaction of both parties, regulatory and third party consents, definitive documentation as well as SPDI shareholder approval of a potential delisting. As part of the revised heads of terms, various amendments have been made to the financing arrangements that SPDI has provided to Adven. Whilst the parties are working together to achieve completion of the proposed transaction by 30 June 2026, there can be no ass...
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