Secure Property Dev & Inv PLC Update on Ukraine Assets (7452D)

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RNS Number : 7452D

Secure Property Dev & Inv PLC

04 March 2022

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

4 March 2022

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

Update on Ukraine Assets

Secure Property Development & Investment PLC, the AIM quoted South Eastern European focused property company, advises that in light of the unfolding military events in Ukraine, it has temporarily closed its Ukrainian office and is housing some family members of its Ukrainian staff in the Company's accommodation in Romania.

The Company's assets in Ukraine consist of land plots in the wider Kiev region, and as such the financial impact of the invasion is expected to be minimal on the Company. Two of the land plots are the subject of Stage 2 of the ongoing transaction with Arcona, and discussions with Arcona in this regard are occurring as per Arcona Property Fund N.V.'s press release of 24 February 2022. Further updates will be provided as and when appropriate.

Our thoughts and prayers are with the people suffering, and our sincere hope is that all is resolved sooner rather than later.

**ENDS**

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

 
Lambros Anagnostopoulos  SPDI                        Tel: [phone] 
 
 
  Rory Murphy              Strand Hanson Limited       Tel: [phone] 
  Ritchie Balmer 
  Robert Collins 
 
 
  Jon Belliss              Novum Securities Limited    Tel: [phone] 
 
  Catherine Leftley        St Brides Partners Ltd      Tel: [phone] 
  Isabelle Morris 
 

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.

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March 04, 2022 11:10 ET (16:10 GMT)