The Shareholders of “FairPlay Properties” REIT voted for increasing of the nominal value of its shares

The Company does not distributes dividend for 2013

Sofia, June 30, 2014

   On the regular General Meeting of the shareholders, held on June 30th, 2014, the shareholders of “FairPlay Properties” REIT voted for increase of the nominal value of the issued by the Company shares from BGN 1(one) to BGN 2 (two) at once with decrease of their number retaining the size of the capital of the Company at BGN 55,825 mln.
   “The shareholders, whose number is not an even number, will receive one share from the majority owner “FairPlay International” JSC. This way they will not be disadvantaged when dividing to two.” – commented the CEO of the Company Manyu Moravenov.
On the Meeting was voted, dividend not to be distributed for 2013, according art.247a, Para 1 from the Commercial Law. The Report of the Board of the directors for its activity in 2013, the annual Financial statement for the previous financial year, the Auditor`s Report and the Investor Relations Director`s Report were approved and accepted. The Board of the directors was exonerated for its activity in 2013.
   “The decision for the reverse split is the first step for the implementation of the intention of the Management of the Company to ensure long-term potential for distribution of every future profit as dividend to the shareholders. The second step will be a proposal to the shareholders the fixed capital of the Company to be decreased by reducing the nominal value of the shareholders again to BGN 1. The decrease will be done for the amount of the accumulated loss from valuation of properties and transferring a part of the fixed capital into additional one.” added the CEO of the Company Manyu Moravenov.
   The shareholders of the Fund have approved and accepted the Policy for the remuneration of the members of the Board of the Directors. They have also elected a new auditor of the Company.
  “FairPlay Properties” REIT is listed on the BSE – Sofia on 17th of February, 2006. Major shareholder in the company is “FairPlay International” with 56.5% share in the capital, the rest of the shareholders are institutional investors (10 pension, 18 mutual funds and 1 investment company) and over 430 individuals and legal entities, retail investors.
As at the end of 2013, the investment portfolio of “FairPlay Properties” REIT consists of 10 projects from different market segments. The total TBA is 369 thousand sq. m., and the investment made by the Company as at the end of the year amounts to BGN 202 mln.  

The Projects of the Company have also received many prestigious awards, including:

 The Holiday Complex “Santa Marina” is the first Bulgarian holder of the prestigious award Prix d’Excellance Golden Winner, May 2014;

 The holiday village “Santa Marina” holds the great reward in the competition FIABCI Prix D’ Excellance Awards, April 2013;

 The Holiday complex „Santa Marina” was distinguished with the prize “Best Holiday Village 2010” from the Bulgarian Hotel and Restaurant Association;

 The holiday village “Santa Marina”, Sozopol owns the Golden prize “Best Project in Bulgaria” from the Russian magazine „Homes Overseas”;

 The holiday village “Santa Marina”, Sozopol is the holder of the award “Best Marina Project” from the international competition “Best project 2009”, organized in the frame of the year of Bulgaria in Russia;

 The project of the Company Hotel, SPA and Apartments “Saint Ivan Rilski”, Bansko was distinguished with an award from the Bulgarian Hotel and Restaurant Association for “Best holiday 4-star hotel in Bulgaria 2009”;

 The webpage of the holiday village “Santa Marina”, Sozopol was awarded as “Best website in the Real Estates category” from the international web festival “Albena 2008”;

 The larges project of the Fund – the holiday complex “Santa Marina”, Sozopol holds the prize “Holiday complex of the Year” from the competition “Building of the year 2006”.

The Company is a holder of plenty of prestigious awards such as:

 „Investor of the Year” in the Tourism sector for 2013 for the investment of the Company in the Holiday village “Santa Marina”, Sozopol;

 Second place in the Annual rating of Dnevnik newspaper – “Top 100 best companies on the stock exchange in Bulgaria in 2009” in the category “Best REIT”.

  „Best IR Website”, the Bulgarian Association of Investor Relations Directors for 2008;

 „Company with best Corporate governance for Special investment purpose Companies, 2006”, Investors Association in Bulgaria;
More information:
Snezhana Yotinska, Investor Relations Director
Tel.: 02/ 8 199 121; e-mail: