GRIVALIA PROPERTIES Α.Ε.Ε.Α.Π.
UPDATE TO THE REPORT OF "EUROBANK PROPERTIES REAL ESTATE INVESTMENT COMPANY S.A." BOARD OF DIRECTORS PURSUANT TO ARTICLES 9 OF L. 3016/2002 AND 4.1.4.1.2. OF THE ATHENS EXCHANGE REGULATION
In its report dated 6th August 2007, which was published pursuant to articles 9 of L. 3016/02 and 4.1.4.1.2. of the Athens Exchange Regulation, the Board of Directors of EUROBANK PROPERTIES REAL ESTATE INVESTMENT COMPANY S.A. (the "Company") stated that the investments to which the Company will proceed by utilising the proceeds from the share capital increase as decided by the Extraordinary General Assembly of 3rd September 2007 and 15th October 2007 have not yet been fully determined in relation to specific properties. However, the Company's strategy regarding the use of proceeds, as stated in the aforementioned report, remains as follows:
The Company intends to use the proceeds for the acquisition of high quality office, retail, logistics and industrial spaces, in prime or potentially prime locations both in Greece and in CEE, in order to lease them to corporate tenants in accordance with its investment strategy and in compliance with applicable laws.
In the aforementioned report, the Company's Board of Directors committed itself to provide the information required (pursuant to article 4.1.4.1.2. of the ATHEX Regulation) upon the realisation of the relevant investments and to comply with all its regulatory obligations.
In this context, the company announces a further step in the materialisation of its investment plan via the conclusion of the agreement, dated February 2, 2009, for the acquisition from ICAP GROUP S.A. Management and Financial Consulting Economic Market Research Investment of an office building which is located in the municipality of Athens, 7 Papadiamantopoulou street. The building consists of 1.281,5 sq.m. of office spaces and 238,03 sq.m. of supporting use spaces. The acquisition price of the property was euro 4,0m. whereas the fair value of the property as determined by the Body of Sworn In Valuers of Greece (SOE) is euro 4,034m.
The property was leased back to "ICAP GROUP S.A." through a commercial lease with an entry yield of 8,0%.
It is noted that the company has also published a relevant press release, as required by law.
The Company intends to use the proceeds for the acquisition of high quality office, retail, logistics and industrial spaces, in prime or potentially prime locations both in Greece and in CEE, in order to lease them to corporate tenants in accordance with its investment strategy and in compliance with applicable laws.
In the aforementioned report, the Company's Board of Directors committed itself to provide the information required (pursuant to article 4.1.4.1.2. of the ATHEX Regulation) upon the realisation of the relevant investments and to comply with all its regulatory obligations.
In this context, the company announces a further step in the materialisation of its investment plan via the conclusion of the agreement, dated February 2, 2009, for the acquisition from ICAP GROUP S.A. Management and Financial Consulting Economic Market Research Investment of an office building which is located in the municipality of Athens, 7 Papadiamantopoulou street. The building consists of 1.281,5 sq.m. of office spaces and 238,03 sq.m. of supporting use spaces. The acquisition price of the property was euro 4,0m. whereas the fair value of the property as determined by the Body of Sworn In Valuers of Greece (SOE) is euro 4,034m.
The property was leased back to "ICAP GROUP S.A." through a commercial lease with an entry yield of 8,0%.
It is noted that the company has also published a relevant press release, as required by law.