Board Changes and Formation of Advisory Council

Secure Property Development & Investment PLC/ Index: AIM / Epic: SPDI / Sector: Real Estate

Secure Property Development & Investment PLC ('SPDI' or 'the Company')

Board Changes and Formation of Advisory Council to the Board

Secure Property Development & Investment PLC, the AIM-quoted South Eastern European focused property company, announces changes to its board of directors ("Board"), effective immediately.  Michael Beys (Chairman), Harin Thaker (Vice-Chairman), Ian Domaille (Non-executive Director), Tony Kaffas (Non-executive) and Lambros Anagnostopoulos (Chief Executive Officer) will all continue to serve on the Board, forming a smaller and more efficient Board, as the Company begins 2019 focused on completing the sale of SPDI's non-Greek property portfolio for approximately €29.25 million in an all-share transaction ('the Transaction') to Arcona Property Fund N.V. ('Arcona').  Please see announcement of 18 December 2018 for further details.  

The Transaction is expected to close during Q1 2019 and, subject to completion, will provide SPDI shareholders with exposure to a dividend-paying, Amsterdam and Prague-listed company with a diversified portfolio of income producing properties in various Central and East European countries, valued after closing at ca. €161 million.

The Company also announces the establishment of an Advisory Council ('the Council') to provide strategic advice and support to the Board, as it focuses on building a high-return, asset-backed property company focused on the fast-growing economies and intercontinental trade routes of South Eastern Europe.  The Council will be comprised of former directors of the Company, namely, Paul Ensor, Vago Barseghyan, Franz Hörhager, Kalypso Nomikou, and Alvaro Portela, all of whom have stepped down from the Board effective immediately, and they will be joined by Emmanuel Blouin, the Company's investment banking advisor. Colin Chapin's tenure also ended at last week's AGM, and has therefore left the Board too.

Lambros Anagnostopoulos, Chief Executive Officer of SPDI, said: "I have been honoured to have worked with and been guided by Vago Barseghyan, Paul Ensor, Franz Hörhager, Kalypso Nomikou, Alvaro Portela, and Colin Chapin whom I would like to thank wholeheartedly for their support and dedication to SPDI."  

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This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

For further information please visit www.secure-property.eu or contact:

Notes to Editors

Secure Property Development and Investment plc is an AIM listed property development and investment company focused on the South East European markets.  The Company's strategy is focused on generating healthy investment returns principally derived from: the operation of income generating commercial properties and capital appreciation through investment in high yield real estate assets.  The Company is focused primarily on commercial and industrial property in populous locations with blue chip tenants on long term rental contracts.  The Company's senior management consists of a team of executives that possess extensive experience in managing real estate companies both in the private and the publicly listed sector, in various European countries.