The reduction will be made by reducind the nominal value of the shared from BGN 2 to BGN 1
On December 22, 2014, the Commercial register by the Registry Agency has registered reduction of the nominal value of the issued by “FairPlay Properties” REIT shares from BGN 2.00 (two) to BGN 1 (one) by maintaining the number of the issued by the Company shares to 27 912 685. A relevant reduction of the amount of the fixed capital from BGN 55 825 370 to BGN 27 912 685 was registered as well. This was in accordance with the decision taken by the shareholders on the held on September 8th, 2014 Extraordinary General Meeting.
“With the reduction of the fixed capital of the Company at the expense of the accumulated until present loss from revaluation of properties, concluded the second step from the implementation of the Management strategy of to ensure long-term possibility for distribution of every future profit as dividend to the shareholders. The first stage of this strategy – the decision for a reverse split, was voted by the shareholders on the Regular General Meeting at the end of June, the previous year. The correction of the fixed capital does not affect the Equity of the Company, which stays unchanged. As an additional effect from the transformation of the capital and the number of shares, the book value per share with nominal value BGN 1 increases double to this value before the start of the above mentioned two steps.” – mentioned the CEO of the Company Manyu Moravenov.
“FairPlay Properties” REIT is listed on the BSE – Sofia on 17th of February, 2006. Major shareholder in the company is “FairPlay International” with 56% share in the capital, the rest of the shareholders are institutional investors (10 pension, 15 mutual funds and 1 investment company) and over 400 individuals and legal entities, retail investors.
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;
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More information:
Snezhana Yotinska, Investor Relations Director
Tel.: 02/ 8 199 121; e-mail: s.yotinska@fpp.bg
