3rd Mar 2015 10:57
LONDON (Alliance News) - Secure Property Development & Investment PLC said it has received indicated demand of at least EUR6 million gross from its shareholders in relation to the open offer it announced last month, and it has extended the closing date for the offer.
The south eastern Europe focused property investment company announced last month that it was planning to raise up to EUR10 million via an open offer to existing shareholders, by issuing up to 29.7 million new shares at a price of 25 pence per share. The maximum issuance under the open offer would almost double the number of shares it currently has in issue. The company currently has 33.9 million shares on the market.
Shareholders are being offered 1 new share for every 1.14 existing shares they hold. Any shares not taken up by existing shareholders may be offered to new investors, it said last month.
The company said Tuesday that it has also extended the closing date for its open offer to March 11, from March 4. It said the extended date will give shareholders who have not yet applied for open offer shares the opportunity to do so.
Secure Property Development & Investment shares were untraded Tuesday morning. The stock was last quoted at 21.70 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Secure Prop