("Black Sea Property" or the "Company")
It is expected that the Placing will become effective, and the Placing Shares issued, following full receipt of placee funds, on
The Directors intend to use the net funds from the Placing for further development of the Company's real estate portfolio, to make investments in line with the stated investment strategy that may be identified and for working capital purposes.
In addition to the Cash Placing, outlined above,
On completion of the Placing and the issue of the Loan Shares on
Mamferay 539,457,561 29.45
Neo London 515,126,806 28.13
Compass Capital 322,536,000 17.61
Capman AM 36,000,000 5.02
Following the issue of the Placing Shares and the Loan Shares, the Company will have 1,831,505,421 Ordinary Shares in issue, which also represents the total number of voting rights in the Company. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
The Directors of the issuer accept responsibility for the contents of this announcement.
For further information, please visit www.blackseapropertyplc.com or contact the following:
BLACK SEA PROPERTY PLC
Alex Borrelli - Chairman
+44(0) 774 702 0600
PETERHOUSE CAPITAL LIMITED
NEX Corporate Adviser
Heena Karani and Duncan Vasey
+44 (0) 207 469 0930
This information is provided by RNS, the news service of the