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CYPRUS - Secure Property Development & Investment PLC (AIM:SPDI) has received approval from the Cyprus Registrar of Companies for its reduction of share capital, the company announced Wednesday.
The capital reduction, which was approved by shareholders on April 23, 2025, will enable the AIM-quoted property company to distribute its holdings of Arcona Property Fund shares to SPDI shareholders on a pro-rata basis according to their existing shareholdings.
The company’s board will work with advisers to finalize the distribution process and plans to provide additional details in the future, according to the press release statement.
SPDI describes itself as focused on South Eastern European markets, with a strategy centered on generating returns from operating income-generating commercial properties and capital appreciation through investments in high-yield real estate assets.
The company primarily targets commercial and industrial properties in populous locations with long-term rental contracts from blue-chip tenants.
No timeline was provided for when shareholders might expect to receive the Arcona Property Fund shares.
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