TIDMNEPI
RNS Number : 9899U
New Europe Property Investments PLC
13 April 2016
NEW EUROPE PROPERTY INVESTMENTS PLC
Incorporated and registered in the Isle of Man with registered
number 001211V
Registered as an external company with limited liability under
the laws of South Africa, registration number 2009/000025/10
AIM share code: NEPI JSE share code: NEP BVB share code: NEP
ISIN: IM00B23XCH02
("NEPI" or "the Company")
UPDATE ON ACQUISITIONS AND DEVELOPMENTS
FORUM ÚSTÍ NAD LABEM SHOPPING CENTRE (CZECH REPUBLIC)
NEPI has concluded an agreement to acquire the Forum Ústí nad
Labem shopping centre, situated in the Czech Republic, from Meyer
Bergman Fund. The shopping centre, with approximately 27,800m(2) of
GLA, opened for trading in November 2009.
Ústí nad Labem is one of the largest cities in the Czech
Republic, with a population of approximately 93,000, and the
capital of the Ústecký region, with over 820,000 inhabitants,
located in the northern part of the country. The city benefits from
modern infrastructure, as it is situated at a railway junction, and
the highway connecting the city to Prague and Dresden is scheduled
for completion in 2016.
Forum Ústí nad Labem is the dominant retail scheme in the
region, situated in the centre of the city, at the intersection of
the city's arterial roads used by local, regional and transiting
traffic. It reports very good footfall figures.
The mall is anchored by a Billa supermarket and features
numerous international brands, such as Adidas, CCC, C&A,
Deichmann, dm, H&M, Humanic, KFC, Manufaktura, Mohito, New
Yorker, Nike, Orsay, Promod, Tchibo, Tommy Hilfiger, and a
five-screen Cinema City.
The aggregate purchase price for the acquisition was EUR 82.6
million and was settled from NEPI's existing cash resources. The
acquisition was completed on 8 April 2016 and has a commercial
effective date of 29 February 2016.
The transaction is not categorisable in terms of the JSE
Listings Requirements and it is not classified as a substantial
transaction under the AIM Rules.
SHOPPING CITY TIMISOARA (ROMANIA)
The first phase of this development, comprising a hypermarket
and gallery (16,300m(2) GLA), was opened in November 2015 and
includes tenants such as Carrefour, Media Galaxy, Noriel, Pepco and
Zoomania.
The second phase opened on 31 March 2016 and includes an
additional 40,500m(2) of fashion and entertainment GLA, featuring
local and international brands such as Bershka, C&A, CCC,
Collins, Cropp, Deichmann, dm, Douglas, H&M, Hervis, House,
Intersport, KFC, Koton, LC Waikiki (first store in the city), Lee
Cooper, Levi's, New Yorker, Orsay, Otter, Pimkie, Pizza Hut,
Pull&Bear, Reserved, Sephora, Sinsay, Sport Vision,
Stradivarius, Timeout, Tom Tailor and Zara (flagship store), a gym,
swimming pool, and a thirteen-screen cinema (the largest cinema
outside of Bucharest), with an IMAX and a 4DX auditorium (the only
retail centre in Romania to feature both). The occupancy rate for
the shopping centre is currently 96% and the Company is in advanced
negotiations with a large fashion anchor for the remaining 4%. The
centre has reported high footfall figures since opening and its
tenants registered significant turnovers.
This announcement is for information purposes only.
13 April 2016
For further information please contact:
New Europe Property Investments
plc
Mirela Covasa +40 21 232 1398
AIM Nominated Advisor and Broker
Smith & Williamson Corporate
Finance Limited
Azhic Basirov/Katy Birkin +44 20 7131 4000
JSE sponsor
Java Capital +27 11 722 3050
BVB advisor
SSIF Intercapital Invest SA
Razvan Pasol +40 21 222 8731
This information is provided by RNS
The company news service from the London Stock Exchange
END
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