European Investment Grade Properties P.L.C - Update to Bondholders

European Investment Grade Properties P.L.C (Prospectus Expired)

European Investment Grade Properties P.L.C - Update to Bondholders

25/10/2017 09:49
[ Return to previous page ]

Notice: 289

                                                                     European Investment Grade Properties P.L.C – Update to Bondholders

Recent developments relating to the issuer of European Investment Grade Properties PLC Fixed Interest Rate 6.5% Unsecured 31/3/2023 Bonds with ISIN code GB00BYP0Y667.

1. Disposal of underlying real estate asset.
The Issuer has appointed Colliers International to organise a private internal auction in order to dispose of the Issuer’s underlying real estate asset in Germany.

2. Business strategy post-asset disposal.
Following the sale of the above-mentioned real estate asset, the Issuer will invest in new physical real estate assets in Germany. The Issuer will also endeavour to maintain a cash reserve equivalent to the value of one full year’s interest on all bonds in issue in order to ensure liquidity for the foreseeable future.

3. Nasdaq First North equity listing.
The Issuer intends to submit an application to list its Ordinary Shares on the Nasdaq Firth North stock exchange. The Issuer will seek to issue additional Ordinary Shares prior to the listing on Nasdaq First North. The Issuer is hopeful that this equity listing project will be completed by early next year.

4. Human resource changes.
The Issuer has appointed a new head of sales, and is in the process of hiring an in-house lawyer/ compliance officer. Both individuals have extensive experience in the real estate sector and are expected to provide significant value to the Issuer by its directors.

Recently Added:
Why? Source: Gibraltar Stock Exchange

GSX Main Market

GSX Global Market

See above for Member Firm details.