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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| New Euro.Pty | LSE:NEPI | London | Ordinary Share | IM00B23XCH02 | ORD EUR0.01 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 10.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMNEPI
RNS Number : 1358Y
New Europe Property Investments PLC
13 May 2016
NEW EUROPE PROPERTY INVESTMENTS PLC
Incorporated and registered in the Isle of Man with registered number 001211V
Registered as an external company with limited liability under the laws of South Africa, registration number 2009/000025/10
Registered office: 2nd Floor, Anglo International House, Lord Street, Douglas, Isle of Man, IM1 4LN
AIM share code: NEPI JSE share code: NEP BVB share code: NEP ISIN: IM00B23XCH02
("NEPI", the Group" or "the Company")
UNAUDITED CONDENSED CONSOLIDATED FINANCIAL RESULTS FOR THE THREE MONTHSED 31 MARCH 2016
The Company is required to publish financial results for the three months ended 31 March 2016 in terms of the rules of the Romanian Financial Supervisory Authority ('RFSA') and the Rule Book of the Bucharest Stock Exchange ('BVB'). Accordingly, this announcement presents the unaudited condensed consolidated financial results of the Group in respect of the financial period from 1 January 2016 to 31 March 2016 in a form compliant with the requirements of the RFSA and the BVB. Earnings guidance for the financial year remains unchanged.
Management Accounts
All amounts in EUR '000 unless otherwise stated
Hot Features
Premium
CONSOLIDATED STATEMENT OF INCOME 31 Mar 31 Dec 31 Mar
2016 2015 2015
-------------------------------------- -------- -------- --------
Gross rental income 31 601 110 937 23 943
-------- -------- --------
Net service charge and operating
expenses (465) (2 526) (592)
-------- -------- --------
Service charge and other recoveries 13 509 44 074 9 491
-------- -------- --------
Property operating expenses (13 974) (46 600) (10 083)
-------- -------- --------
Net operating income 31 136 108 411 23 351
Corporate expenses (2 698) (9 618) (1 554)
-------- -------- --------
Property management net result 842 2 902 760
--------------------------------------- -------- -------- --------
EBITDA 29 280 101 695 22 557
Net finance (expense)/ income (4 492) (5 759) (256)
-------- -------- --------
Finance expense (6 433) (17 829) (3 446)
Finance income 557 3 822 619
Interest capitalised on development
costs 1 384 8 248 2 571
-------- -------- --------
Non-controlling interest 2 676 (7 427) 1 755
-------- -------- --------
Dividends received from financial
investments 292 - -
-------- -------- --------
Current income tax (79) - -
-------- -------- --------
Direct investment result 27 677 88 509 24 056
-------- -------- --------
Indirect investment result (5 619) 69 889 (3 040)
-------- -------- --------
Profit for the period attributable
to equity holders 22 058 158 398 21 016
-------- -------- --------
Reverse indirect result 5 619 (69 889) 3 040
Company specific adjustments (1 531) 12 096 (102)
-------- -------- --------
Distributable earnings before
issue cum distribution 26 146 100 605 23 954
--------------------------------------- -------- -------- --------
Issue cum distribution adjustment 341 1 954 362
Distributable earnings 26 487 102 559 24 316
--------------------------------------- -------- -------- --------
Distributable earnings per share
(euro cents) 8.75 35.34 8.61
of which recurring distributable
earnings per share (euro cents) 8.75 34.76 8.61
Distribution per share (euro cents) - 35.34 -
--------------------------------------- -------- -------- --------
CONSOLIDATED STATEMENT OF FINANCIAL 31 Mar 31 Dec 31 Mar
POSITION 2016 2015 2015
------------------------------------------ ------- ------- -------
ASSETS
------- ------- -------
1 899 1 858 1 529
Non-current assets 181 740 040
------- ------- -------
1 856 1 814 1 469
Investment property 792 357 842
------- ------- -------
1 714 1 655 1 200
Investment property at fair value 808 219 850
Developments at cost 141 984 159 138 268 992
------- ------- -------
Goodwill 23 986 23 986 22 828
Other long-term assets 17 255 18 115 36 219
Financial assets at fair value
through profit or loss 1 148 2 282 151
Current assets 408 421 410 095 175 983
------- ------- -------
Investment property held for sale 23 605 25 255 27 688
------------------------------------------- ------- ------- -------
Trade and other receivables 50 495 55 229 50 039
Financial investments at fair
value through profit or loss 22 015 - -
Cash and cash equivalents 312 306 329 611 98 256
------- ------- -------
2 307 2 268 1 705
Total assets 602 835 023
------------------------------------------- ------- ------- -------
LIABILITIES 804 272 772 285 454 947
------- ------- -------
Bank borrowings 223 846 201 095 294 912
Bonds 394 456 393 414 -
Deferred tax liabilities 98 154 93 571 69 756
Other long-term liabilities 15 538 15 443 14 348
Financial liabilities at fair
value through profit or loss 3 480 3 417 4 878
------- ------- -------
Trade and other payables 68 798 65 345 71 053
------- ------- -------
Equity attributable to equity 1 503 1 496 1 250
holders 330 550 076
------------------------------------------- ------- ------- -------
Total liabilities and equity attributable 2 307 2 268 1 705
to equity holders 602 835 023
------------------------------------------- ------- ------- -------
Adjusted net asset value per share
(euro) 5.21 5.25 4.62
------------------------------------------- ------- ------- -------
RECONCILIATION OF PROFIT FOR THE 31 Mar 31 Dec 31 Mar
PERIOD TO DISTRIBUTABLE EARNINGS 2016 2015 2015
------------------------------------------ ------- --------- -------
Profit for the period attributable
to equity holders 22 058 158 398 21 016
------- --------- -------
Unrealised foreign exchange (gain)/
loss (145) 348 19
------- --------- -------
Acquisition fees 721 933 520
------- --------- -------
Share-based payment expense - 670 7
------- --------- -------
Accrued interest on share-based
payments 1 89 100
------- --------- -------
Fair value adjustments of investment
property - (89 946) -
------- --------- -------
Loss on disposal of investment
property held for sale 235 - -
------- --------- -------
Fair value adjustment of financial
assets and liabilities 1 197 (1 398) (202)
------- --------- -------
Amortisation of financial assets (1 670) (3 554) (166)
------- --------- -------
Fair value gains of financial
investments (995) - -
------- --------- -------
Dividends received from financial
investments (292) - -
------- --------- -------
Accrued dividend for financial
investments 394 - -
------- --------- -------
Deferred tax expense 4 583 19 508 2 591
------- --------- -------
Shares issued cum distribution 341 1 954 362
------------------------------------------- ------- --------- -------
Adjustments related to non controlling
interest
------------------------------------------ ------- --------- -------
Fair value adjustment of Investment
property - 18 598 -
------------------------------------------- ------- --------- -------
Deferred tax expense 59 (3 041) 69
------------------------------------------- ------- --------- -------
Distributable earnings for the
period 26 487 102 559 24 316
Less: distribution declared - (102 559) -
------- --------- -------
Interim distribution - (51 304) -
------- --------- -------
Final distribution - (51 255) -
------- --------- -------
Earnings not distributed 26 487 - 24 316
302 714 298 590 282 423
Number of shares entitled to distribution 153 564 985
------------------------------------------- ------- --------- -------
Distributable earnings per share
for the period (euro cents) 8.75 35.34 8.61
Less: Distribution declared per
share (euro cents) - (35.34) -
------- --------- -------
Interim distribution per share
(euro cents) - (18.17) -
------- --------- -------
Final distribution per share (euro
cents) - (17.17) -
------------------------------------------- ------- --------- -------
Earnings not distributed (euro
cents) 8.75 - 8.61
------------------------------------------- ------- --------- -------
LEASE EXPIRY 2016 2017 2018 2019 2020 2021 2022 2023 2024 >=2025 Total
PROFILE
--------------- ---- ---- ----- ----- ----- ----- ---- ---- ---- ------ -----
Total based on
rental income 2.9% 9.5% 12.2% 13.8% 16.7% 15.5% 5.1% 3.0% 4.3% 17.0% 100%
--------------- ---- ---- ----- ----- ----- ----- ---- ---- ---- ------ -----
Total based on
rented area 1.0% 6.4% 12.1% 12.5% 14.0% 14.1% 5.6% 5.4% 5.6% 23.3% 100%
--------------- ---- ---- ----- ----- ----- ----- ---- ---- ---- ------ -----
BASIS OF PREPARATION
These unaudited condensed consolidated financial results for the three months ended 31 March 2016 have been prepared in accordance with the recognition and measurement criteria of the International Financial Reporting Standards ("IFRS"), its interpretations adopted by the International Accounting Standards Board ("IASB"), the presentation and the disclosure requirements of IAS 34 Interim Financial Reporting and the JSE Listings Requirements. The accounting policies which have been applied are consistent with those used in the preparation of the annual financial statements for the year ended 31 December 2015.
As the Group is focusing on being consistent in those areas of reporting that are seen to be of most relevance to investors and on providing a meaningful basis of comparison for users of the financial information, it has prepared unaudited management accounts. The main difference between the management accounts and the financial statements is that the management accounts statements are prepared using the proportionate consolidation method for investments in joint-ventures, which is not in accordance with IFRS (but consistent with financial statements prepared in accordance with IFRS reported before 1 January 2013), while the IFRS financial statements use the equity method for accounting for these investments (following the adoption of IFRS 11 'Joint Arrangements' effective 1 January 2013). The management accounts have been prepared by and are the responsibility of the Directors of NEPI. Due to their nature, the management accounts may not fairly reflect the financial position and results of the Group after the differences set out above.
The condensed consolidated financial results for the three months ended 31 March 2016, prepared in accordance with IFRS and the management accounts have not been reviewed or reported on by the Group's external auditors.
By order of the Board of Directors
Alex Morar (Chief Executive Officer), Mirela Covasa (Finance Director)
13 May 2016
IFRS Accounts
All amounts in EUR '000 unless otherwise stated
CONSOLIDATED STATEMENT OF COMPREHENSIVE Unaudited Audited Unaudited
INCOME 31 Mar 31 Dec 31 Mar
2016 2015 2015
------------------------------------------- --------- -------- ---------
Net rental and related income 29 773 104 067 22 298
--------- -------- ---------
Contractual rental income and expense
recoveries 43 206 148 799 31 938
--------- -------- ---------
Property operating expenses (13 433) (44 732) (9 640)
--------- -------- ---------
Administrative expenses (1 825) (6 695) (703)
EBITDA 27 948 97 372 21 595
Acquisition fees (721) (933) (520)
--------- -------- ---------
Fair value adjustments of investment
property - 81 742 -
--------- -------- ---------
Fair value gains on financial investments
at fair value through profit or
loss 995 - -
Dividends received from financial
investments 292 - -
Share-based payment expense - (670) (7)
Foreign exchange gain/ (loss) 111 (339) (55)
Loss on disposal of investment property
held for sale (235) - -
-------------------------------------------- --------- -------- ---------
Profit before net finance income/(expense) 28 390 177 172 21 013
Net finance income/(expense) (3 003) (916) 774
--------- -------- ---------
Finance income 1 613 7 613 1 380
-------------------------------------------- --------- -------- ---------
Finance expense (4 616) (8 529) (606)
-------------------------------------------- --------- -------- ---------
Changes in fair value of financial
instruments (740) 1 149 298
Share of (loss)/ profit of joint
ventures (838) 2 399 (161)
Profit before tax 23 809 179 804 21 924
Current tax expense (79) - -
Deferred tax expense (4 348) (13 979) (2 663)
Profit after tax 19 382 165 825 19 261
--------- -------- ---------
Total comprehensive income for the
year 19 382 165 825 19 261
Non-controlling interest 2 676 (7 427) 1 755
Profit for the period attributable
to equity holders 22 058 158 398 21 016
-------------------------------------------- --------- -------- ---------
Weighted average number of shares 298 977 284 461 274 638
in issue 923 222 368
Diluted weighted average number 299 002 285 813 278 186
of shares in issue 923 260 394
Basic earnings per share (euro cents) 7.38 55.68 7.65
Diluted earnings per share (euro
cents) 7.38 55.42 7.55
-------------------------------------------- --------- -------- ---------
CONSOLIDATED STATEMENT OF FINANCIAL Unaudited Audited Unaudited
POSITION 31 Mar 2016 31 Dec 31 Mar
2015 2015
---------------------------------------- ------------ ------- ---------
ASSETS
------------ ------- ---------
1 829 1 502
Non-current assets 1 866 744 440 668
------------ ------- ---------
1 732 1 402
Investment property 1 774 558 760 862
------------ ------- ---------
1 576 1 140
Investment property at fair value 1 635 486 019 791
Investment property under development 139 072 156 741 262 071
------------ ------- ---------
Goodwill 23 986 23 986 22 828
Investments in joint ventures 14 802 15 640 9 033
Long-term loans granted to joint
ventures 35 038 36 674 31 578
Other long-term assets 17 212 18 098 36 216
Financial assets at fair value through
profit or loss 1 148 2 282 151
Current assets 380 794 381 097 144 547
------------ ------- ---------
Trade and other receivables 49 763 54 487 49 087
Financial investments at fair value
through profit or loss 22 015 - -
Cash and cash equivalents 309 016 326 610 95 460
------------ ------- ---------
Investment property held for sale 23 605 25 255 27 688
----------------------------------------- ------------ ------- ---------
2 235 1 674
Total assets 2 271 143 792 903
----------------------------------------- ------------ ------- ---------
EQUITY AND LIABILITIES
Total equity attributable to equity 1 496 1 250
holders 1 503 330 550 076
------------ ------- ---------
Share capital 3 027 2 986 2 793
1 213 1 075
Share premium 1 213 265 325 750
Share-based payment reserve 4 797 4 797 4 135
Currency translation reserve (1 229) (1 229) (1 229)
Accumulated profit 284 517 275 042 176 181
Non-controlling interest (1 047) 1 629 (7 554)
----------------------------------------- ------------ ------- ---------
Total liabilities 767 813 739 242 424 827
----------------------------------------- ------------ ------- ---------
Non-current liabilities 687 594 661 717 233 892
------------ ------- ---------
Bank borrowings 183 737 162 788 149 252
Bonds 393 048 392 140 -
Deferred tax liabilities 94 000 89 652 67 322
Other long-term liabilities 15 054 14 988 14 054
Financial liabilities at fair value
through profit or loss 1 755 2 149 3 264
------------ ------- ---------
Current liabilities 80 219 77 525 190 935
------------ ------- ---------
Trade and other payables 66 978 62 827 69 873
Bank borrowings 11 833 13 424 121 062
-------
Interest accrued on bonds 1 408 1 274 -
------------ ------- ---------
2 235 1 674
Total equity and liabilities 2 271 143 792 903
----------------------------------------- ------------ ------- ---------
SEGMENTAL ANALYSIS Retail Office Industrial Corporate Total
-------------------------- ------- ------- ---------- --------- -------
31 March 2016 (unaudited)
-------------------------- ------- ------- ---------- --------- -------
Contractual rental income
and expense recoveries 35 475 7 226 505 - 43 206
-------------------------- ------- ------- ---------- --------- -------
Profit before net finance
expense 22 838 4 579 443 530 28 390
-------------------------- ------- ------- ---------- --------- -------
1 570 2 271
Total Assets 301 379 650 17 407 303 785 143
-------------------------- ------- ------- ---------- --------- -------
Total Liabilities 262 240 108 558 2 403 394 612 767 813
-------------------------- ------- ------- ---------- --------- -------
31 March 2015 (unaudited)
-------------------------- ------- ------- ---------- --------- -------
Contractual rental income
and expense recoveries 24 693 6 746 499 - 31 938
-------------------------- ------- ------- ---------- --------- -------
Profit before net finance
expense 18 233 2 855 403 (478) 21 013
-------------------------- ------- ------- ---------- --------- -------
1 242 1 674
Total Assets 768 322 220 17 407 92 508 903
-------------------------- ------- ------- ---------- --------- -------
Total Liabilities 256 321 137 380 2 417 28 709 424 827
-------------------------- ------- ------- ---------- --------- -------
CONSOLIDATED Share Share Share-based Currency Accumulated Non-controlling Total
STATEMENT OF capital premium payment translation profit interest
CHANGES IN EQUITY reserve reserve
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
Balance at 1 1 074 1 241
January 2015 2 746 310 4 127 (1 299) 167 133 (5 798) 289
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
Transactions 139
with owners 240 015 670 - (50 489) - 89 436
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
129
- Issue of shares 205 767 - - - - 129 972
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
* Sale of shares issued under the Initial Share Scheme 35 9 248 - - - - 9 283
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
* Vesting of shares issued under the Initial Share
Scheme - - 670 - - - 670
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
- Earnings distribution - - - - (50 489) - (50 489)
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
Total comprehensive
income - - - - 158 398 7 427 165 825
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
- Profit for
the period - - - - 158 398 7 427 165 825
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
Balance at 31 1 213 1 496
December 2015 2 986 325 4 797 (1 229) 275 042 1 629 550
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
Balance at 1 1 213 1 496
January 2016 2 986 325 4 797 (1 229) 275 042 1 629 550
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
Transactions
with owners 41 (60) - - (12 583) - (12 602)
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
- Issue of shares 41 (60) - - - - (19)
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
- Earnings distribution - - - - (12 583) - (12 583)
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
Total comprehensive
income - - - - 22 058 (2 676) 19 382
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
- Profit for
the period - - - - 22 058 (2 676) 19 382
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
Balance at 31 1 213 1 503
March 2016 3 027 265 4 797 (1 229) 284 517 (1 047) 330
----------------------------------------------------------- ------- ------- ----------- ----------- ----------- --------------- --------
CONDENSED CONSOLIDATED STATEMENT Unaudited Audited Unaudited
OF CASH FLOWS 31 Mar 31 Dec 31 Mar
2016 2015 2015
--------------------------------------------- --------- -------- ---------
Profit after tax 19 382 165 825 19 261
--------------------------------------------- --------- -------- ---------
Adjustments 7 007 (66 987) 1 653
--------------------------------------------- --------- -------- ---------
Changes in working capital 5 031 1 378 34 934
--------------------------------------------- --------- -------- ---------
Cash flows from operating activities 31 420 100 216 55 848
--------------------------------------------- --------- -------- ---------
Proceeds from issue of shares (19) 139 255 1 487
--------------------------------------------- --------- -------- ---------
Earnings distribution (12 583) (50 489) (11 968)
--------------------------------------------- --------- -------- ---------
Net movements in bank loans and bonds
borrowings 20 558 297 522 (6 703)
--------------------------------------------- --------- -------- ---------
Other payments - (2 395) -
--------------------------------------------- --------- -------- ---------
Cash flows from financing activities 7 956 383 893 (17 184)
--------------------------------------------- --------- -------- ---------
(265
Investments in acquisitions and developments (36 242) 735) (51 440)
--------------------------------------------- --------- -------- ---------
Net cash flow used in financial investments (20 728) - -
--------------------------------------------- --------- -------- ---------
(265
Cash flows used in investing activities (56 970) 735) (51 440)
--------------------------------------------- --------- -------- ---------
Net increase in cash and cash equivalents (17 594) 218 374 (12 776)
--------------------------------------------- --------- -------- ---------
Cash and cash equivalents brought
forward 326 610 108 236 108 236
--------------------------------------------- --------- -------- ---------
Cash and cash equivalents carried
forward 309 016 326 610 95 460
--------------------------------------------- --------- -------- ---------
RECONCILIATION OF NET ASSET VALUE Unaudited Audited Unaudited
TO ADJUSTED NET ASSET VALUE 31 Mar 31 Dec 31 Mar
2016 2015 2015
------------------------------------- --------- -------- ---------
Net Asset Value per the Statement 1 503 1 496 1 250
of financial position 330 550 076
--------- -------- ---------
Loans in respect of the Initial
Share Scheme 64 64 8 003
--------- -------- ---------
Deferred tax liabilities 94 000 89 652 67 322
--------- -------- ---------
Goodwill (23 986) (23 986) (22 828)
--------- -------- ---------
Deferred tax liabilities for joint
ventures 4 154 3 919 2 434
--------- -------- ---------
1 577 1 566 1 305
Adjusted Net Asset Value 562 199 007
------------------------------------- --------- -------- ---------
Net Asset Value per share (euro) 4.97 5.01 4.48
--------- -------- ---------
Adjusted Net Asset Value per share
(euro) 5.21 5.25 4.62
--------- -------- ---------
Number of shares for Net Asset Value 302 689 298 565 279 250
per share purposes 153 564 260
--------- -------- ---------
Number of shares for adjusted Net 302 714 298 590 282 423
Asset Value per share purposes 153 564 985
------------------------------------- --------- -------- ---------
RECONCILIATION OF PROFIT FOR THE Unaudited Audited Unaudited
PERIOD TO HEADLINE EARNINGS 31 Mar 31 Dec 31 Mar
2016 2015 2015
------------------------------------- --------- -------- ---------
Profit for the period attributable
to equity holders 22 058 158 398 21 016
--------- -------- ---------
Fair value adjustments of investment
property - (81 742) -
--------- -------- ---------
Loss on sale of investment property
held for sale 235 - -
--------- -------- ---------
Total tax effects of adjustments - 14 333 -
--------- -------- ---------
Fair value adjustment of investment
property for joint ventures - (8 204) -
--------- -------- ---------
Total tax effects of adjustments
for joint ventures - 1 312 -
------------------------------------- --------- -------- ---------
Headline earnings 22 293 84 097 21 016
------------------------------------- --------- -------- ---------
Weighted average number of shares 298 977 284 461 274 638
in issue 923 222 368
Diluted weighted average number 299 002 285 813 278 186
of shares in issue 923 260 394
Headline earnings per share (euro
cents) 7.46 29.56 7.65
Diluted headline earnings per share
(euro cents) 7.46 29.42 7.55
------------------------------------- --------- -------- ---------
key performance indicators 31 Mar
2016
-------------------------------------------------- ----------
Current liquidity ratio* 5.74
----------------------------------------------------- ----------
Gearing ratio** 15.6%
----------------------------------------------------- ----------
Tenant's receivable turnover 30.37
----------------------------------------------------- ----------
Return on investment property 7.28%
----------------------------------------------------- ----------
* Current liquidity ratio=(Current assets+Unused Revolving
Facilities)/ Current liabilities
** Gearing ratio=(Loans and borrowings-Cash and cash
equivalents)/(Investment property+Financial investments
at fair value through profit or loss)
-----------------------------------------------------------------
DEBT REPAYMENT Type Secured/ Ownership Outstanding Available 2016 2017 2018 2019 2020 2021
PROFILE Unsecured amount for and
drawdown beyond
---------------- ---------- ---------- --------- ----------- --------- ----- ------ ------ ----- ------ -------
Aupark Kosice Term loan Secured 100% 103 618 - 4 145 5 526 5 526 5 526 82 895 -
---------------- ---------- ---------- --------- ----------- --------- ----- ------ ------ ----- ------ -------
Floreasca
Business
Park* Term loan Secured 100% 46 807 - 2 940 3 920 39 947 - - -
---------------- ---------- ---------- --------- ----------- --------- ----- ------ ------ ----- ------ -------
Aupark Zilina Term loan Secured 100% 45 405 - 1 547 43 858 - - - -
---------------- ---------- ---------- --------- ----------- --------- ----- ------ ------ ----- ------ -------
Ploiesti
Shopping
City (joint
venture) Term loan Secured 50% 16 060 - 821 1 095 1 095 1 095 1 095 10 859
---------------- ---------- ---------- --------- ----------- --------- ----- ------ ------ ----- ------ -------
The Office,
Cluj-Napoca
(joint venture) Term loan Secured 50% 12 539 4 500 513 630 630 630 630 9 506
---------------- ---------- ---------- --------- ----------- --------- ----- ------ ------ ----- ------ -------
Timisoara
City Business
Centre One Term loan Secured 100% - 20 000 - - - - - -
---------------- ---------- ---------- --------- ----------- --------- ----- ------ ------ ----- ------ -------
Fixed
NE Property coupon
Cooperatief bonds Unsecured 100% 400 000 - - - - - - 400 000
---------------- ---------- ---------- --------- ----------- --------- ----- ------ ------ ----- ------ -------
NE Property Revolving
Cooperatief facility Unsecured 100% - 80 000 - - - - - -
---------------- ---------- ---------- --------- ----------- --------- ----- ------ ------ ----- ------ -------
Total 624 429 104 500 9 966 55 029 47 198 7 251 84 620 420 365
---------------------------------------- --------- ----------- --------- ----- ------ ------ ----- ------ -------
The reference base rate (1 month EURIBOR, 3 month EURIBOR) was hedged with
a weighted average interest rate cap of 0.3% for 47% of the outstanding
notional amount and a weighted average interest rate swap of 1.7% for 53%
of the outstanding notional amount.
*Floreasca Business Park term loan was voluntarily repaid in April 2016.
--------------------------------------------------------------------------------------------------------------------------
For further information please contact:
New Europe Property Investments Plc
Mirela Covasa: +40 21 232 1398
AIM Nominated Adviser and Broker:
Smith & Williamson Corporate Finance Limited
Azhic Basirov/Katy Birkin: +44 20 7131 4000
JSE sponsor:
Java Capital: +27 11 277 3050
BVB advisor: SSIF Intercapital Invest SA
Razvan Pasol: +40 21 222 8731
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRFGGUPAAUPQGQP
(END) Dow Jones Newswires
May 13, 2016 02:00 ET (06:00 GMT)
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