Transfer of Ukrainian property asset to Arcona
Transfer of Ukrainian property asset Kiyanovskiy Residence to Arcona Property Fund for €1.05m cash and 68,782 Arcona shares.
- Cash consideration c.€1.05 million
- Arcona shares issued 68,782
- Asset valuation based on Arcona NAV c.€1.8 million
- Property size 0.55Ha
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Transfer of Ukrainian property asset to Arcona Property Fund N.V.
Secure Property Development and Investment PLC (AIM: SPDI), the South Eastern European focused property company, is pleased to announce the transfer of a 100% interest in the Kiyanovskiy Residence, a 0.55Ha freehold and leasehold land property near to Kyiv city centre (the 'Kiyanovskiy Residence'), to Arcona Property Fund N.V. ('Arcona') in exchange for c.€1,05 million in cash and the issue to SPDI of 68,782 new shares in Arcona ('the Transfer').
Based on the latest announced Net Asset Value of Arcona's shares on 30 September 2024, the Transfer values the interest in the Kiyanovskiy Residence at c.€1,8 million.
The Kiyanovskiy Residence asset is part of Stage Two of the previously announced transfer to Arcona of SPDI's property portfolio, in exchange for new shares and warrants in Arcona, to create a larger Central and South Eastern European focused investment vehicle (the 'Arcona Transaction').
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.