LONDON - 21/12/2016, December 21,2016 /PRNewswire/ --
21 December 2016
BCRE - Brack Capital Real Estate Investments N.V.
("BCRE" or the "Company")
Revised terms of convertible loan notes
Further to its announcement on 2 December 2016, the Company announces that it has agreed with the lenders under the convertible loan notes of 24 December 2014, in the aggregate amount of €16,800,000, to extend the maturity date of the convertible loan notes until 30 November 2018.
The amended conversion price of the convertible loan notes is equal to €1.5 per share (save for certain customary exceptions) and the ratchet protection provided to the lenders will be only for the first year of the convertible loan notes' term.
BCRE - Brack Capital Real Estate Investments N.V. Ariel Podrojski, Chief Executive Officer Nansia Koutsou, Chief Financial Officer / Chief Operating Officer +31 20 514 1004 Novella Communications Tim Robertson Toby Andrews +44 203 151 7008
BCRE is an international real estate development and investment group, headquartered in the Netherlands and listed on the London Stock Exchange. Through its subsidiary and associated undertakings, the Company is interested in, develops and operates an international portfolio of real estate assets, predominantly located in the USA, Germany and Russia.
The Company has established local management team platforms with significant local market expertise in the US, Germany, Russia, India and the UK with exclusive access to over 550 staff. At present, the Company has offices and teams in New York, London, Frankfurt, Dusseldorf, Moscow, Kazan, New Delhi, Amsterdam and Limassol.
This is a disclosure announcement from PR Newswire.
SOURCE BCRE - Brack Capital Real Estate Investments N.V.