Etaireia Investments Plc
LSE : ETIP

February 15, 2016 10:45 ET

Comercial Property Investment

                                      ETAIREIA INVESTMENTS PLC
                                    ("Etaireia" or the "Company")

                                   Commercial Property Investment

The  Directors  of  Etaireia are pleased to announce that the Company has acquired the  entire  share
capital  of  Pacha  Sunderland  Limited (the "Acquisition"), a single purpose  company  that  owns  a
freehold  commercial property. The property, known as the 'Ivy Leaf Club', is at 38a Suffolk  Street,
Sunderland,  occupies  circa 11,000 sq.ft. and is currently let on a license  producing  £31,200  per
annum. The Directors believe that there are good prospects for a change of use of the property, which
is currently a social club, to include residential/ student accommodation.

The purchase price of £210,000 has been satisfied by the issue of 210,000,000 new ordinary shares  of
0.01p each ("Ordinary Shares") at a price of £0.001 per share.

Pacha  Sunderland Limited isjointly owned by Baron Bloom, a Director of Etaireia, and the Acquisition
therefore constitutes a related party transaction. As part of the Acquisition, Baron Bloom  has  been
issued  105,000,000  Ordinary Shares. The independent Directors have evaluated  the  deal,  including
obtaining  a  RICS  compliant valuation of the Ivy Leaf Club and consider the property  an  excellent
addition to our existing property portfolio, enhancing the balance sheet and providing income to  the
Company.

As  a  result of the issue of Ordinary Shares as consideration for the Acquisition, Baron  Bloom  and
Oliver Fattal hold the following interests in the Company:

Name of Shareholder                   Ordinary Shares held                    % Holding in Company
Oliver Fattal                          105,000,000                              6.90
Baron Bloom                            115,000,000                              7.56

Following  the issue of the shares referred to above, Etaireia has a total of 1,521,407,476  Ordinary
Shares in issue carrying voting rights.

The  above figure of 1,521,407,476 Ordinary Shares may be used by shareholders 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, Etaireia under the FCA's Disclosure and Transparency Rules.

The Directors of the Company accept responsibility for this announcement.

ENDS

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

Peterhouse Corporate Finance Limited
Tel: 020 7469 0934
Fungai Ndoro and Mark Anwyl

Contact Information

  • Etaireia Investments Plc