Etaireia Investments Acquisition of Commercial Property Investment

Etaireia Investments Acquisition of Commercial Property Investment


Acquisition of Commercial Property Investment

17 August 2016


(Etaireia” or the “Company”)

Acquisition of Commercial Property Investment

The  Directors of Etaireia are pleased to announce that the Company has completed the acquisition  of  100%  of  the share capital of Pacha Cleator Limited, a single purpose company that owns  a  freehold  commercial property investment. The property at 5-6 High Street, Cleator Moor, Cumbria, CA25 5AH  has been recently valued by at GBP182,000. A tenant has recently agreed a 10 year lease rental for the  sum of GBP20,000 p.a.

The purchase price of GBP182,000 has been satisfied by the issue of 203,076,923 new ordinary shares  of 0.01p  each,  at a price of 0.0065p per new ordinary share and GBP50,000 cash consideration.  The  cash consideration has been deferred for 12 months.

Baron Bloom was previously a shareholder and Director of a company called Pacha Properties Ltd, which owned  the  property prior to its recent transfer. He is not a beneficiary of the sale proceeds.  The independent  directors have evaluated the deal, including instructing a RICS valuation  and  consider the  property  an excellent addition to the existing property portfolio, enhancing the balance  sheet and anticipated to provide income to the company.

Equity Subscription and Share Options

Etaireia  is  pleased to announce that the Company has raised GBP35,000 by way of  a  subscription  for 38,888,889  new  ordinary  shares of 0.01p each, at a price of 0.09p  per  new  ordinary  share  (the “Subscription”).  The  new funds raised will be used to implement the Company’s  investment  strategy which  is focused on the property and real estate sector. In addition, the Company has granted  share options to Mr Babak Shirazi over a total of 333,333,334 Ordinary Shares at an exercise price of 0.09p (“Exercise  Price”) per share (“Options”). The Options are exercisable in whole or in  part,  at  any time up to and including 9 April 2019. Assuming full exercise, the Ordinary Shares, which are subject to the Options, represent approximately 18.23% of the Company’s fully diluted share capital.

Board Changes

The  Company  announces that due to other business commitments, Philip McGinlay, the Company’s  Chief  Executive Officer and, James Kirkwood, the Company’s Directors are unable to dedicate their  time  to Etaireia  and  consequently are stepping down from their role of Directors and the  Board,  effective from  the end of August 2016. The board would like to thank them for their support during their  time with  the  Company  and  wish  them well in their other ventures. The  board  have  agreed  to  issue 28,036,667  new ordinary shares to Philip McGinlay in lieu of unpaid salary, representing GBP25,233  at 0.09p  per  new ordinary share and the issue of 21,095,556 new ordinary shares to James  Kirkwood  in lieu  of  unpaid  salary representing GBP18,986 at 0.09p per new ordinary share. The current  Directors will handle the duties of both Directors in the interim.

Issue of Equity

The  Company  announces  that  3,333,333 new ordinary shares of  0.01p  each,  have  been  issued  to Peterhouse  Corporate  Finance Limited, representing GBP3,000 at 0.09p  per  new  ordinary  share  and, 6,666,667 new ordinary shares of 0.01p each, have been issued to Alexander David Securities  Limited, representing GBP6,000 at 0.09p per new ordinary share in lieu of fee payments.

The Company announces that 2,000,000 new ordinary shares of 0.01p each, have been issued to Mousehoff  Limited,  representing  GBP5,000  at 0.25p per new ordinary share, in lieu  of  payment  for  marketing services.

Following the issue of the new shares above, the issued share capital of the Company will increase to 1,828,505,510 ordinary shares of 0.01p each.  The new ordinary shares shall rank pari passu  wih  the Company’s existing ordinary shares.

The following parties have an interest of more than 3% in the shares of the Company:

Number of Shares                % Total
Castle Trust & Management Services Limited          459,190,692                      25.11%
Oliver Fattal                                       308,076,923                      16.85%
Mayer Management Limited                            145,000,000                       7.93%
WB Nominees Limited                                 120,860,000                       6.61%
Baron Bloom                                         115,000,000                       6.29%
JIM Nominees Limited                                113,094,467                       6.19%
SVS (Nominees) Limited                               80,696,000                       4.41%
Redmayne (Nominees) Limited                          60,398,400                       3.30%
Ronald William Dougall                               58,000,000                       3.17%
Asset Trust Savings Nominee Limited                  54,977,929                       3.01%

Shareholders  may  use the above figure as the denominator for the calculations by  which  they  will determine  if  they are required to notify their interest in, or a change to their interest  in,  the share capital of the Company under the Disclosure and Transparency Rules.

The Directors of the Company accept responsibility for this announcement.

Etaireia Investments Plc
Tel:  079 1756 5565
Baron Bloom, Chairman

Alexander David Securities Limited
David Scott – Corporate Finance
James Dewhurst – Institutional Sales
Telephone: +44 (0) 20 7448 9820
49 Queen Victoria Street, London EC4N 4SA

Etaireia Investments Plc

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