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DJ Secured Property Developments Plc Result of General Meeting Reated Party Transaction

 
TIDMSPD 
 
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 GBP600,000 (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 
 
 
 
END 
 

(END) Dow Jones Newswires

September 28, 2016 13:29 ET (17:29 GMT)