SECURED
PROPERTY DEVELOPMENTS PLC
Unit 6
,Orchard Mews ,42 Orchard Road
Highgate, London N6 5TR
SECURED
PROPERTY DEVELOPMENTS PLC
(The Company)
Date 28 September 2016
RELATED PARTY
TRANSACTION
Further to the announcement made by The Company on 2 September 2016, and in accordance with ISDX
Growth Market Rule 55, The Company announces that at a General
Meeting of The Company held on 28 September
2016, the ordinary resolution set out in the General Meeting
Notice sent to shareholders (Ordinary Resolution) was duly
passed.
The Ordinary Resolution sought shareholders' approval for the
provision of development finance to Space Property Corporation
Limited (Space Property) in an aggregate amount of £600,000 (plus
an amount in respect of interest) for a term of 12 months at a rate
of 10.2 per cent per annum secured by a second-ranking legal
mortgage on a freehold commercial property in York.
R. A. Shane is a director of The
Company and owns 29.15 per cent of the issued share capital of The
Company.
R. A. Shane is also the sole
director and controlling shareholder of Space Property and as such
the transaction is a related party transaction.
John Townsend, Chairman commented
“We are pleased that the shareholders of The Company have voted to
approve the financing of this project in York and look forward to generating a return
on our funds whilst we pursue other opportunities for The
Company.”
John Townsend
Chairman
Company
No. 2055395
Registered office: as above