7th Jan 2019 13:56
LONDON (Alliance News) - Secure Property Development & Investment PLC said Monday five members of its board will step down, effective immediately, and form an advisory council, providing strategic advice and support to the company.
Paul Ensor, Vago Barseghyan, Franz Horhager, Kalypso Nomikou, and Alvaro Portela will all step down from the board of the south Eastern European focused property developer.
Chairman Michael Beys, Vice Chairman Harin Thaker, Chief Executive Officer Lambros Anagnostopoulos and Non-Executive Directors Ian Domaille and Tony Kaffas will all continue to serve on the board.
Secure Property said it is focused on completing the sale of its non-Greek portfolio for about EUR29.3 million in an all-share transaction.
The transaction is expected to close during the first quarter.
Shares in Secure Property Development & Investment were untraded Monday but last closed at 9.50 pence each.
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