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NEW EUROPE PROPERTY INVESTMENTS PLC - Election to receive either a cash dividend or a return of capital: Finalisation announcement

Release Date: 26/02/2016 11:00
Code(s): NEP     PDF:  
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Election to receive either a cash dividend or a return of capital: Finalisation announcement

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”)


ELECTION TO RECEIVE EITHER A CASH DIVIDEND OR A RETURN OF CAPITAL: FINALISATION ANNOUNCEMENT


NEPI shareholders are referred to the Circular to NEPI shareholders, Notice to NEPI shareholders in respect of an election to
receive either a cash dividend or a return of capital and the Update in respect of the distribution for the six months ended
31 December 2015, all announced on 19 February 2016, and are advised as follows:

    - The reference price is ZAR161.12141 (“reference price”), being a 5% discount to the five-day volume weighted average
      traded price (less distribution) of NEPI shares on the JSE as at Thursday, 25 February 2016. For NEPI shares on the UK
      and Romanian registers, the reference price is EUR9.38657 (being the reference price of ZAR161.12141 converted to Euro
      at the Rand exchange rate of EUR1.00 : ZAR 17.16510).
    - Shareholders electing to receive the return of capital will receive 1.83 new NEPI shares for every 100 NEPI shares held by
      such shareholders on the record date of Friday, 11 March 2016, representing the ratio that the cash dividend bears to the
      reference price.

If no shareholders were to elect to receive the return of capital, the value of the dividends would amount to EUR €51 268 000.
Should all shareholders elect to receive the return of capital, the maximum total number of new NEPI shares to be issued by NEPI
pursuant to the return of capital will be 5 464 207.

The share capital of the company as at the date of this announcement is as follows:

                                                                                                                       ‘000 EUR
 Share capital
 Authorised
 600 000 000 ordinary shares of €0.01 each                                                                                6 000
 Issued share capital
 298 590 564 ordinary shares of €0.01 each                                                                                2 986
 Share premium                                                                                                        1 213 325
 Total                                                                                                                1 216 311

Should all eligible NEPI shareholders elect to receive the return of capital, the share capital of NEPI after issue of the new NEPI
shares will be as follows:

                                                                                                                       ‘000 EUR
 Share capital
 Authorised
 600 000 000 ordinary shares of €0.01 each                                                                                6 000
 Issued share capital
 304 054 771 ordinary shares of €0.01 each                                                                                3 041
 Share premium                                                                                                        1 213 270
 Total                                                                                                                1 216 311


For further information please contact:

New Europe Property Investments plc
Mirela Covasa                                  +40 21 232 13 98

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

26 February 2016

Date: 26/02/2016 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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