The Company distributes BGN 0, 1433 per share
Sofia, March 10, 2008
FairPlay Properties REIT will increase its capital from BGN 50 700 000 to BGN 55 826 000, after the successful completion of the Subscription for the fourth initial public offering of shares of the Company.
Until the final term 6 March were subscribed and paid totally 5 126 000 shares with nominal BGN 1.00 and issuing value BGN 2.25 each, and in the collective account of the Company were accumulated BGN 11 533 500. The requested securities are 50, 55% from the whole offered issue of totally 10 140 000 shares.
The accumulated amounts are enough to ensure the financing of the announced new projects of FairPlay Properties REIT – commented Manu Moravenov, the Executive Director.
The Fund will distribute BGN 0, 1433 dividend per share, including the securities from the new issue. The Company announced near BGN 8.87 mln profit for distribution after 13 times growth of the net profit, in the audited financial statement for 2007.
FairPlay Properties REIT is the biggest in assets Company for securitization of real estate (without agricultural lands) with 14,59% market share and had fourth place towards this index from all the REITs invested in the real estates, listed on the BSE ( according the statistics of Financial Supervision Commission for the third quarter of 2007). According the information from the last Prospectus of the Company the market value of its assets as at November 2007 exceeds BGN 170 mln.
FairPlay Properties has an award from the Investor‘s Association for “The Best Corporate Governance of REITs 2006”.
FairPlay Properties REIT is listed on the Bulgarian Stock Exchange – Sofia on 17 February 2006. The main shareholder in the Company is FairPlay International JSC with 66,89 % quota in the capital.