Arcona Property Fund N.V. (ENXTAM:ARCPF) signed a purchase agreement to acquire 2,700 m² Office Building in North-west Bucharest from Secure Property Development & Investment Plc (AIM:SPDI), a fund managed by Aisi Realty Capital LLC on June 14, 2021. The value of the building is €5 million. Arcona Property Fund will acquire the second phase assets by issuing ca.

605,000 shares at an intrinsic value of €11.87 each and ca. 146,000 warrants which can be converted into Arcona Property Fund NV shares if the Fund´s shares reach a price level of €7.20. The warrants will expire after five years following their issuance and are exercisable after one year, unless a prospectus with respect to the warrant and or the underlying shares is published.

In a related transaction, Arcona Property Fund N.V. (ENXTAM:ARCPF) signed the purchase agreement to acquire 24.35% share in a Modern Office Building in Central Bucharest on June 14, 2021. On completion, the Net Asset Value of the Fund should rise by ca.€7.18 million and the debt level should rise by ca. €4.16 million.

The Loan to Value ratio, currently 47.5%, will therefore see a further decrease. The net asset value per share, currently €11.87, should not materially change. The purchases should be completed in the second half of 2021.

As on March 30, 2022, Secure Property Development & Investment transferred a 21.2% stake Delenco Office Building asset in Bucharest to Arcona Property Fund in exchange for the issue to SPDI of 315,668 new shares in Arcona and 76,085 warrants over shares in Arcona. The Transfer represents the commencement of Stage Two of the previously announced transfer to Arcona of SPDI's property portfolio, excluding its Greek logistics properties (which has been separately disposed of), in exchange for new shares and warrants in Arcona.