News
AGRO FINANCE REIT with investment portfolio of 14 079 hectares agricultural land as of April 30, 2012
As of April 30, 2012 the investment portfolio of Agro Finance REIT includes 14 079 hectares of agricultural land. The funds invested by the Company stand at BGN 43.230 million (EUR 22.103 million), at an average acquisition price (all costs included) of BGN 3 070.60 (EUR 1 569.97) per hectare.
AGRO FINANCE REIT with investment portfolio of 14 075 hectares agricultural land as of March 31, 2012
As of March 31, 2012 the investment portfolio of Agro Finance REIT includes 14 075 hectares of agricultural land. The funds invested by the Company stand at BGN 43.222 million (EUR 22.099 million), at an average acquisition price (all costs included) of BGN 3 070.80 (EUR 1 570.08) per hectare.
AGRO FINANCE REIT with investment portfolio of 14 080 hectares agricultural land as of February 29, 2012
As of February 29, 2012 the investment portfolio of Agro Finance REIT includes 14 080 hectares of agricultural land. The funds invested by the Company stand at BGN 43.236 million (EUR 22.106 million), at an average acquisition price (all costs included) of BGN 3 070.80 (EUR 1 570.08) per hectare.
AGRO FINANCE REIT with investment portfolio of 14 082 hectares agricultural land as of January 31, 2012
As of January 31, 2012 the investment portfolio of Agro Finance REIT includes 14 082 hectares of agricultural land. The funds invested by the Company stand at BGN 43.242 million (EUR 22.106 million), at an average acquisition price (all costs included) of BGN 3 070.80 (EUR 1 570.08) per hectare.
First interest payment on issued corporate bonds
According to its obligations on issued 5-years corporate bonds with a nominal value EUR 5 000 000 and fixed interest 8% annually, ISIN BG2100014112, the Company realized the first interest payment on February 4th, 2012. Interest payment was received by all bondholders, who were registered with the Central Depository on February 1st, 2012.
AGRO FINANCE REIT with investment portfolio of 13 091 hectares agricultural land as of December 31, 2011
As of December 31, 2011 the investment portfolio of Agro Finance REIT includes 13 091 hectares of agricultural land. The funds invested by the Company stand at BGN 37.123 million (EUR 18.981 million), at an average acquisition price (all costs included) of BGN 2 835.80 (EUR 1 449.92) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 083 hectares agricultural land as of November 30, 2011
As of November 30, 2011 the investment portfolio of Agro Finance REIT includes 13 083 hectares of agricultural land. The funds invested by the Company stand at BGN 37.097 million (EUR 18.967 million), at an average acquisition price (all costs included) of BGN 2 835.60 (EUR 1 449.80) per hectare. A replacement of 102 hectares of agricultural land was done during the month with another company. The received land is in priority territories in which Agro Finance REIT had already acquired a significant amount of agricultural land.
AGRO FINANCE REIT with investment portfolio of 13 082 hectares agricultural land as of October 31, 2011
As of October 31, 2011 the investment portfolio of Agro Finance REIT includes 13 082 hectares of agricultural land. The funds invested by the Company stand at BGN 37.091 million (EUR 18.964 million), at an average acquisition price (all costs included) of BGN 2 835.20 (EUR 1 449.61) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 083 hectares agricultural land as of September 30, 2011
As of September 30, 2011 the investment portfolio of Agro Finance REIT includes 13 083 hectares of agricultural land. The funds invested by the Company stand at BGN 37.089 million (EUR 18.963 million), at an average acquisition price (all costs included) of BGN 2 834.90 (EUR 1 449.48) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 083 hectares agricultural land as of August 31, 2011
As of August 31, 2011 the investment portfolio of Agro Finance REIT includes 13 083 hectares of agricultural land. The funds invested by the Company stand at BGN 37.089 million (EUR 18.963 million), at an average acquisition price (all costs included) of BGN 2 834.90 (EUR 1 449.48) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 080 hectares agricultural land as of July 31, 2011
As of July 31, 2011 the investment portfolio of Agro Finance REIT includes 13 080 hectares of agricultural land. The funds invested by the Company stand at BGN 37.083 million (EUR 18.960 million), at an average acquisition price (all costs included) of BGN 2 835.00 (EUR 1 449.52) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 088 hectares agricultural land as of May 31, 2011
As of May 31, 2011 the investment portfolio of Agro Finance REIT includes 13 088 hectares of agricultural land. The funds invested by the Company stand at BGN 37.099 million (EUR 18.968 million), at an average acquisition price (all costs included) of BGN 2 834.60 (EUR 1 449.28) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 088 hectares agricultural land as of April 30, 2011
As of April 30, 2011 the investment portfolio of Agro Finance REIT includes 13 088 hectares of agricultural land. The funds invested by the Company stand at BGN 37.098 million (EUR 18.968 million), at an average acquisition price (all costs included) of BGN 2 834.50 (EUR 1 449.28) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 088 hectares agricultural land as of March 31, 2011
As of March 31, 2011 the investment portfolio of Agro Finance REIT includes 13 088 hectares of agricultural land. The funds invested by the Company stand at BGN 37.098 million (EUR 18.968 million), at an average acquisition price (all costs included) of BGN 2 834.50 (EUR 1 449.28) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 088 hectares agricultural land as of February 28, 2011
As of February 28, 2011 the investment portfolio of Agro Finance REIT includes 13 088 hectares of agricultural land. The funds invested by the Company stand at BGN 37.100 million (EUR 18.969 million), at an average acquisition price (all costs included) of BGN 2 834.70 (EUR 1 449.37) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 085 hectares agricultural land as of January 31, 2011
As of January 31, 2011 the investment portfolio of Agro Finance REIT includes 13 085 hectares of agricultural land. The funds invested by the Company stand at BGN 37.087 million (EUR 18.962 million), at an average acquisition price (all costs included) of BGN 2 834.30 (EUR 1 449.18) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 068 hectares agricultural land as of December 31, 2010
As of December 31, 2010 the investment portfolio of Agro Finance REIT includes 13 068 hectares of agricultural land. The funds invested by the Company stand at BGN 37.032 million (EUR 18.934 million), at an average acquisition price (all costs included) of BGN 2 833.80 (EUR 1 448.88) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 111 hectares agricultural land as of November 30, 2010
As of November 30, 2010 the investment portfolio of Agro Finance REIT includes 13 111 hectares of agricultural land. The funds invested by the Company stand at BGN 37.147 million (EUR 18.993 million), at an average acquisition price (all costs included) of BGN 2 833.20 (EUR 1 448.61) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 121 hectares agricultural land as of October 31, 2010
As of October 31, 2010 the investment portfolio of Agro Finance REIT includes 13 121 hectares of agricultural land. The funds invested by the Company stand at BGN 37.153 million (EUR 18.996 million), at an average acquisition price (all costs included) of BGN 2 831.50 (EUR 1 447.72) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 096 hectares agricultural land as of September 30, 2010
As of September 30, 2010 the investment portfolio of Agro Finance REIT includes 13 096 hectares of agricultural land. The funds invested by the Company stand at BGN 37.072 million (EUR 18.954 million), at an average acquisition price (all costs included) of BGN 2 830.80 (EUR 1 447.37) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 073 hectares agricultural land as of August 31, 2010
As of August 31, 2010 the investment portfolio of Agro Finance REIT includes 13 073 hectares of agricultural land. The funds invested by the Company stand at BGN 37.002 million (EUR 18.919 million), at an average acquisition price (all costs included) of BGN 2 830.40 (EUR 1 447.16) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 050 hectares agricultural land as of July 31, 2010
As of July 31, 2010 the investment portfolio of Agro Finance REIT includes 13 050 hectares of agricultural land. The funds invested by the Company stand at BGN 36.931 million (EUR 18.883 million), at an average acquisition price (all costs included) of BGN 2 830.00 (EUR 1 446.93) per hectare.
AGRO FINANCE REIT with investment portfolio of 13 009 hectares agricultural land as of June 30, 2010
As of June 30, 2010 the investment portfolio of Agro Finance REIT includes 13 009 hectares of agricultural land. The funds invested by the Company stand at BGN 36.805million (EUR 18.818 million), at an average acquisition price (all costs included) of BGN 2 829.20(EUR 1 446.56) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 929 hectares agricultural land as of May 31, 2010
As of May 31, 2010 the investment portfolio of Agro Finance REIT includes 12 929 hectares of agricultural land. The funds invested by the Company stand at BGN 36.539 million (EUR 18.682 million), at an average acquisition price (all costs included) of BGN 2 826.10 (EUR 1 444.99) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 861 hectares agricultural land as of April 30, 2010
As of April 30, 2010 the investment portfolio of Agro Finance REIT includes 12 861 hectares of agricultural land. The funds invested by the Company stand at BGN 36.327 million (EUR 18.574 million), at an average acquisition price (all costs included) of BGN 2 824.50 (EUR 1 444.14) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 813 hectares agricultural land as of March 31, 2010
As of March 31, 2010 the investment portfolio of Agro Finance REIT includes 12 813 hectares of agricultural land. The funds invested by the Company stand at BGN 36.169 million (EUR 18.493 million), at an average acquisition price (all costs included) of BGN 2 822.80 (EUR 1 443.27) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 755 hectares agricultural land as of February 28, 2010
As of February 28, 2010 the investment portfolio of Agro Finance REIT includes 12 755 hectares of agricultural land. The funds invested by the Company stand at BGN 35.980 million (EUR 18.396 million), at an average acquisition price (all costs included) of BGN 2 820.90 (EUR 1 442.28) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 696 hectares agricultural land as of January 31, 2010
As of January 31, 2010 the investment portfolio of Agro Finance REIT includes 12 696 hectares of agricultural land. The funds invested by the Company stand at BGN 35.794 million (EUR 18.301 million), at an average acquisition price (all costs included) of BGN 2 819.30 (EUR 1 441.47) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 644 hectares agricultural land as of December 31, 2009
As of December 31, 2009 the investment portfolio of Agro Finance REIT includes 12 644 hectares of agricultural land. The funds invested by the Company stand at BGN 35.648 million (EUR 18.227 million), at an average acquisition price (all costs included) of BGN 2 819.40 (EUR 1 441.56) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 577 hectares agricultural land as of November 30, 2009
As of November 30, 2009 the investment portfolio of Agro Finance REIT includes 12 577 hectares of agricultural land. The funds invested by the Company stand at BGN 35.383 million (EUR 18.091 million), at an average acquisition price (all costs included) of BGN 2 813.40 (EUR 1 438.44) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 504 hectares agricultural land as of October 31, 2009
As of October 31, 2009 the investment portfolio of Agro Finance REIT includes 12 504 hectares of agricultural land. The funds invested by the Company stand at BGN 35.142 million (EUR 17.968 million), at an average acquisition price (all costs included) of BGN 2 810.40 (EUR 1 436.95) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 433 hectares agricultural land as of September 30, 2009
As of September 30, 2009 the investment portfolio of Agro Finance REIT includes 12 433 hectares of agricultural land. The funds invested by the Company stand at BGN 34.910 million (EUR 17.849 million), at an average acquisition price (all costs included) of BGN 2 808.00 (EUR 1 435.71) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 354 hectares agricultural land as of August 31, 2009
As of August 31, 2009 the investment portfolio of Agro Finance REIT includes 12 354 hectares of agricultural land. The funds invested by the Company stand at BGN 34.653 million (EUR 17.718 million), at an average acquisition price (all costs included) of BGN 2 805.00 (EUR 1 434.17) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 306 hectares agricultural land as of July 31, 2009
As of July 31, 2009 the investment portfolio of Agro Finance REIT includes 12 306 hectares of agricultural land. The funds invested by the Company stand at BGN 34.497 million (EUR 17.638 million), at an average acquisition price (all costs included) of BGN 2 803.20 (EUR 1 433.25) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 230 hectares agricultural land as of June 30, 2009
As of June 30, 2009 the investment portfolio of Agro Finance REIT includes 12 230 hectares of agricultural land. The funds invested by the Company stand at BGN 34.243 million (EUR 17.508 million), at an average acquisition price (all costs included) of BGN 2 800.00 (EUR 1 431.62) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 160 hectares agricultural land as of May 31, 2009
As of May 31, 2009 the investment portfolio of Agro Finance REIT includes 12 160 hectares of agricultural land. The funds invested by the Company stand at BGN 34.027 million (EUR 17.398 million), at an average acquisition price (all costs included) of BGN 2 798.30 (EUR 1 430.75) per hectare.
AGRO FINANCE REIT with investment portfolio of 12 054 hectares agricultural land as of April 30, 2009
As of April 30, 2009 the investment portfolio of Agro Finance REIT includes 12 054 hectares of agricultural land. The funds invested by the Company stand at BGN 33.690 million (EUR 17.225 million), at an average acquisition price (all costs included) of BGN 2 794.90 (EUR 1 429.00) per hectare.
AGRO FINANCE REIT with investment portfolio of 11 909 hectares agricultural land as of March 31, 2009
As of March 31, 2009 the investment portfolio of Agro Finance REIT includes 11 909 hectares of agricultural land. The funds invested by the Company stand at BGN 33.220 million (EUR 16.985 million), at an average acquisition price (all costs included) of BGN 2 789.50 (EUR 1 426.25) per hectare.
AGRO FINANCE REIT with investment portfolio of 11 758 hectares agricultural land as of February 28, 2009
As of February 28, 2009 the investment portfolio of Agro Finance REIT includes 11 758 hectares of agricultural land. The funds invested by the Company stand at BGN 32.739 million (EUR 16. 739 million), at an average acquisition price (all costs included) of BGN 2 784.50 (EUR 1 423.67) per hectare.
AGRO FINANCE REIT with investment portfolio of 11 606 hectares agricultural land as of January 31, 2009
As of January 31, 2009 the investment portfolio of Agro Finance REIT includes 11 606 hectares of agricultural land. The funds invested by the Company stand at BGN 32.239 million (EUR 16.484 million), at an average acquisition price (all costs included) of BGN 2 777.80 (EUR 1 420.27) per hectare.
AGRO FINANCE REIT with investment portfolio of 11 418 hectares agricultural land as of December 31, 2008
As of December 31, 2008 the investment portfolio of Agro Finance REIT includes 11 418 hectares of agricultural land. The total amount of the acquired land increased with 73 % from the beginning of the year. The funds invested by the Company stand at BGN 31.609 million (EUR 16.162 million), at an average acquisition price (all costs included) of BGN 2 768.30 (EUR 1 415.41) per hectare.
AGRO FINANCE REIT with investment portfolio of 10 785 hectares agricultural land as of November 30, 2008
As of November 30, 2008 the investment portfolio of Agro Finance REIT includes 10 785 hectares of agricultural land. The total amount of the acquired land increased with 63 % from the beginning of the year. The funds invested by the Company stand at BGN 29.297 mln (EUR 14.980 mln), at an average cumulative acquisition price (all costs included) of BGN 2 716.40 (EUR 1 388.87) per hectare.
The investment portfolio of AGRO FINANCE REIT exceeded 10 000 hectares agricultural land as of November 4, 2008
As of October 31, 2008 the investment portfolio of Agro Finance REIT includes 9 961 hectares of agricultural land. The total amount of the acquired land increased with 51 % from the beginning of the year and almost twice in comparison with October 31, 2007. The funds invested by the Company stand at BGN 26.158 mln (EUR 13.375 mln), at an average cumulative acquisition price (all costs included) of BGN 2 626.00 (EUR 1 342.65) per hectare.
AGRO FINANCE REIT with investment portfolio of 9 440 hectares agricultural land as of September 30, 2008
As of September 30, 2008 the investment portfolio of Agro Finance REIT includes 9 440 hectares of agricultural land. The total amount of the acquired land increased with 42,87% from the beginning of the year. The funds invested by the Company stand at BGN 24,058 mln (EUR 12,301 mln), at an average cumulative acquisition price (all costs included) of BGN 2 548,60 (EUR 1 303,08) per hectare.
Agricultural land portfolio of AGRO FINANCE REIT exceeded 9 000 hectares at the end of August 2008
As of August 31, 2008 the investment portfolio of Agro Finance REIT includes 9 043 hectares of agricultural land. The total amount of the acquired land increased with 36.87% from the beginning of the year. The funds invested by the Company stand at BGN 22.551 mln (EUR 11.530 mln), at an average cumulative acquisition price (all costs included) of BGN 2 493.70 (EUR 1275) per hectare.
AGRO FINANCE REIT with investment portfolio of 8 736 hectares agricultural land as of July 31, 2008
As of July 31, 2008 the investment portfolio of Agro Finance REIT includes 8 736 hectares of agricultural land. The total amount of the acquired land increased with 32.21% from the beginning of the year. The funds invested by the Company stand at BGN 21.435 mln (EUR 10.959 mln), at an average cumulative acquisition price (all costs included) of BGN 2 453.70 (EUR 1254.56) per hectare.
THE COMMERCIAL REGISTER ENTERED THE CAPITAL INCREASE OF AGRO FINANCE REIT
On July 22, 2008 the Commercial Register entered the capital increase of Agro Finance REIT from BGN 16 137 954 to BGN 32 219 708 through the issue of 16 081 754 new ordinary dematerialized voting shares, with an issue value of BGN 1.20 and par value of BGN 1.
Certificate № 20080723090707/23.07.2008 from the Commercial Register (in Bulgarian)
AGRO FINANCE REIT with investment portfolio of 8 299 hectares agricultural land as of June 30, 2008
As of June 30, 2008 the investment portfolio of Agro Finance REIT includes 8 299 hectares of agricultural land. The total amount of the acquired land increased with over 25% from the beginning of the year. The funds invested by the Company stand at BGN 19.942 mln (EUR 10.196 mln), at an average cumulative acquisition price (all costs included) of BGN 2 403.00 (EUR 1 228.65) per hectare.
The investment portfolio of AGRO FINANCE REIT exceeded more than 8 000 hectares agricultural land on June 11, 2008
33 % of the acquired land is rented out as of May 31, 2008
As of May 31, 2008 the investment portfolio of Agro Finance REIT includes 7842 hectares of agricultural land. The total amount of the acquired land increased with almost 20% from the beginning of the year. The funds invested by the Company stand at BGN 18.423 mln (EUR 9.420 mln), at an average cumulative acquisition price (all costs included) of BGN 2 349.30 (EUR 1 201.18) per hectare.
Annual General Meeting of the Shareholders
The Board of Directors of Agro Finance REIT calls an annual general meeting of the shareholders on 30 June, 2008 at 14.00 PM at the following address: Sofia, 71 Vladayska str., 1st floor
Invitation for the general meeting of the shareholders (in Bulgarian)
ANNOUNCEMENT
On April 18th, 2008 „Agro Finance” REIT submitted in the Financial Supervision Commission Annex to the Prospectus for the public offering of shares related to the third capital increase of Agro Finance REIT, approved with decision № 1572-Е from November 28th, 2007.
It is expected the announcement for the beginning of the public offering of the shares to be published in the State Gazette on April 25th, 2008.
AGRO FINANCE REIT HAS ACQUIRED 7256 HECTARES OF AGRICULTURAL LAND
As of March 31, 2008 the investment portfolio of Agro Finance REIT includes 7256 hectares of agricultural land. The total amount of the acquired land increases over 5 times in comparison with March 31, 2007. The funds invested by the Company stand at BGN 16,619 mln (EUR 8.497 mln), at an average cumulative acquisition price (all costs included) of BGN 2 290.40 (EUR 1 171.06) per hectare.
AGRO FINANCE REIT HAS ACQUIRED 7 140 HECTARES OF AGRICULTURAL LAND
As of February 29, 2008 the investment portfolio of Agro Finance REIT includes 7 140 hectares of agricultural land. The total amount of the acquired land increases over 6 times in comparison with February 28, 2007. The funds invested by the Company stand at BGN 15.933 mln (EUR 8.146 mln), at an average cumulative acquisition price (all costs included) of BGN 2 271.50 (EUR 1 161.40) per hectare.
Decision of Board of Directors of Agro Finance REIT for issuing corporate bonds
On March 10, 2008 the Board of Directors of the Company decided to issue corporate bonds (ordinary, registered and book - entry securities, interest-bearing, freely transferable, unsecured) with total nominal value up to BGN 5 000 000.
AGRO FINANCE REIT is included in BG REIT
At its meeting held on 06.03.2008, Record No 08, the Board of Directors of BSE-Sofia has taken a decision to add Agro Finance REIT /AGROF/ in the BG REIT index. The above amendment to the basis of the BG REIT index shall take place on the seventh day as from the BSE Board of Directors decision, i.e. on 13.03.2008.
AGRO FINANCE REIT HAS ACQUIRED MORE THAN 6 800 HECTARES OF AGRICULTURAL LAND
As of January 31, 2008 the investment portfolio of Agro Finance REIT includes 6 815 hectares of agricultural land. The total amount of the acquired land increases over 6 times in comparison with January 31, 2007.
The funds invested by the Company stand at BGN 15.397 mln (EUR 7.872 mln), at an average cumulative acquisition price (all costs included) of BGN 2 259.40 (EUR 1 155.21) per hectare.
AGRO FINANCE REIT HAS ACQUIRED MORE THAN 6 600 HECTARES OF AGRICULTURAL LAND
As of December 31, 2007 the investment portfolio of Agro Finance REIT reached 6 607 hectares of agricultural land. The total amount of the acquired land increases over 6 times in comparison with December 31, 2006.
The funds invested by the Company stand at BGN 14.86 mln (EUR 7.60 mln), at an average acquisition price (all costs included) of BGN 2 248.90 (EUR 1 149.84) per hectare.
AGRO FINANCE REIT HAS ACQUIRED MORE THAN 6 000 HECTARES OF AGRICULTURAL LAND
As of November 30, 2007 the investment portfolio of Agro Finance REIT reached 6 188 hectares of agricultural land, up by 14.91% on monthly basis. The total amount of the acquired land increases almost 9 times in comparison with the same period last year, as the purchased land in November reaches 803 hectares.
The funds invested by the Company stand at EUR 7.07 mln, at an average acquisition price (all costs included) of EUR 1 142.84 per hectare.
As regards the forthcoming third capital increase of Agro Finance REIT, the Financial Supervision Commission approved on November 28, 2007 the Prospectus for the public offering of shares.
AGRICULTURAL LAND PORTFOLIO OF AGRO FINANCE REIT HAS INCREASED BY MORE THAN 15% LAST MONTH. THE COMPANY SUBMITTED A PROSPECTUS FOR ITS THIRD CAPITAL INCREASE TO THE FINANCIAL SUPERVISION COMMISSION.
As of October 31, 2007 the investment portfolio of Agro Finance REIT reached 5 384.9 hectares of agricultural land. The increase is 15.57% in comparison with the previous month. The company gained additional 725,4 hectares of agricultural land.
The funds invested by the Company stand at EUR 6.046 millions, at an average acquisition price (all costs included) of EUR 1122.3 per hectare. The portfolio structure consists of 96.08% agricultural land, classified in categories from I to VI. More than 91.8% of the agricultural lands acquired are in three of the six regions of the country - Northwestern, North Central and Northeastern regions. The land of these regions is of high-quality and has a strong potential for further development of agricultural activities.
AGRO FINANCE REIT submitted a Prospectus for its third capital increase to the Financial Supervision Commission on October 31st, 2007. Due to the expansion of its activity the company concluded a contract with another servicing company ProfiNet EOOD.
AGRO FINANCE REIT OWNS OVER 5 000 HECTARES OF AGRICULTURAL LAND
The investment portfolio of AGRO FINANCE REIT reached 5 225 hectares as at 25 October 2007. The closing of transactions for more than 260 hectares is pending.
According to financial reports made publicly available the profit of the company as at 30 September 2007 amounts to EUR 1 616 881, real property in possession reached EUR 7 141 893 and the net asset value per one share is EUR 0.665.
AGRO FINANCE REIT as one of the main participants in the market of agricultural land is a sponsor of the conference concerning Investment in Agricultural Land which is due to be held soon.
AGRO FINANCE REIT HAS REPORTED THE PERFORMANCE RESULTS FROM ITS ACTIVITY FOR THE THIRD QUARTER
According to its financial report as of 30.09.2007 Agro Finance REIT has concluded the third quarter with positive financial result – profit amounting to EUR 1 616 881.32.
The investment portfolio of the company as at 30.09.2007 includes 4659.5 hectares of agricultural land valued at EUR 7 141 892.70. The investment property in the portfolio has grown at a considerable rate as compared to 31.12.2006 when the company owned 1030.6 hectares of agricultural land.
The balance sheet value of 1 share in the capital of the company amounts to EUR 0.66 per share. The own capital of the company as at 30.09.2007 stands at EUR 10 725 816.66 and shareholders’ equity amounts to EUR 8 251 204.86, distributed into 16 137 954 ordinary dematerialized shares giving the right to vote, with a par value of EUR 0.51129 each.
THE PORTFOLIO OF AGRO FINANCE REIT INCLUDING AGRICULTURAL LAND HAS INCREASED BY 15 % FOR THE LAST MONTH
As at 30 September 2007 the investment portfolio of AGRO FINANCE REIT reached 4 659.5 hectares of agricultural land which is by 15.26% more in comparison with previous month. The quantity of agricultural land acquired by the company has increased almost 5 times only for the last 9 months. The portfolio is invested 95.8% in agricultural land whose quality is within 1st to 6th category in which AGRO FINANCE REIT invests with priority and 4.2% are invested in land pertaining to lower categories. Lands within priority categories acquired during the month represents 97 % of total lands acquired.
Over 91.4% of agricultural lands acquired are in the Northwestern, Northern Central and Northeastern regions which are characterized with the high quality of the land and potential for development of agriculture. The average price of the portfolio with all expenses included amounts to EUR 1094 per hectare.
A THIRD INCREASE OF THE CAPITAL OF AGRO FINANCE REIT IS DUE
At its meeting held on 12 October 2007 the Board of Directors passed a resolution for the increase of the company’s capital through the issuance of 16 137 954 new ordinary dematerialized shares giving the right to vote.
The issue price of one share shall be EUR 0.61. Against one share outstanding prior to the increase a right shall be issued entitling its owner to subscribe 1 new share.
The capital raised through the issuance of shares shall be used for the acquisition of real estate (agricultural land) in accordance with the company’s objects of activity and in conformity with the investment objectives of the company.
The management of the increase of the capital shall be effected by the investment intermediaries UniCredit Bulbank JSC and TBI Invest EAD (single-owner JSC).
AGRICULTURAL LAND ACQUIRED BY AGRO FINANCE REIT HAS INCREASED BY 20 % FOR A MONTH’S PERIOD
As at the end of August the investment portfolio of Agro Finance REIT reached the mark 4000 hectares of agricultural land in comparison with 3400 hectares in possession as at the end of July. The total amount of the cash invested by the Company in agricultural property is almost EUR 4.3 million with an average price for per hectare of acquired land with expenses included - EUR 1074. Almost 96% of the investment property possessed is high quality land – within the range of category 1 to category 6.
AGRO FINANCE REIT OWNS OVER 3400 HECTARES OF AGRICULTURAL LANDS
At the end of July of this year AGRO FINANCE REIT owned a portfolio of investment properties in agricultural territories with total volume of 3400 hectares, it has been announced by the company. The average price of acquisition of agricultural land with included costs was EUR 1058 per hectare.
THE FINANCIAL SUPERVISION COMMISSION APPROVED AMENDMENTS IN THE ARTICLES OF ASSOCIATION
The Financial Supervision Commission has issued an approval of the amendments to the Articles of Association of AGRO FINANCE REIT voted at the regular annual General Meeting of the shareholders of the company held on July 13, 2007.
THE REGULAR ANNUAL GENERAL MEETING OF THE SHAREHOLDERS OF AGRO FINANCE REIT WAS HELD ON July 13, 2007.
The regular annual General Meeting of the shareholders of Agro Finance REIT was held on July 13, 2007. The report for the company’s activity and the annual financial statement for 2006 were adopted and the members of the Board of Directors were relieved of responsibility for their activity. Amendments to the Articles of Association were voted and changes in the Board of Directors were effected - Insurance and Reinsurance JSC Bulstrad AD, Insurance JSC BULSTRAD Life AD, CSIF AD and PERCIMON AD were relieved from duty as members of the Board of Directors and new members were elected – Dessislava Ivanova Yordanova as Chairman of the Board of Directors, Sava Vassilev Savov as Vice-Chairman and Ognian Yordanov Kalev. Ognian Yordanov Kalev shall be the executive director of the company.
TRADE IN SHARES OF AGRO FINANCE REIT FROM THE SECOND INCREASE OF THE CAPITAL HAS STARTED
Following a resolution of the Board of Directors of the Bulgarian Stock Exchange AD passed on July 6, 2007 a subsequent issue of shares of Agro Finance REIT amounting to 16 137 954 ordinary registered dematerialized voting shares after the increase was registered for secondary trade at the Unofficial market of shares, segment A. The issue will be introduced for trade on 10.07.2007.
LANDS OWNED BY AGRO FINANCE REIT INCREASED BY 94.5%
As at June 27, 2007 AGRO FINANCE REIT owns 2 628 hectares of agricultural land. In comparison with the first quarter of 2007 the assets representing agricultural land securitized by the company increased with 1 277 hectares or by 94.5%.
THE SUBSCRIPTION FOR THE SECOND INCREASE OF THE CAPITAL OF AGRO FINANCE REIT WAS COMPLETED SUCCESSFULLY
On 3 May 2007 the subscription of the issue of ordinary dematerialized shares of AGRO FINANCE REIT from the second increase of the capital was closed. The capital of the company has increased from EUR 332 340 to EUR 8 251 205 through the issuance of 15 487 954 ordinary dematerialized voting shares with a par value of EUR 0.51129 each.
TODAY A SUBSCRIPTION HAS STARTED FOR THE SECOND INCREASE IN THE CAPITAL OF AGRO FINANCE REIT
Following the approval by the Financial Supervision Commission of the prospectus for initial public offering of shares from the second increase in the capital of Agro Finance REIT, on 26 March, 2007 a subscription for the second increase of the company’s capital started, it was announced by Agro Finance REIT. The rights will be traded by 10 April, 2007, and the auction for the unexercised rights will be held on 17 April. The deadline for subscription and payments of the shares is 3 May, 2007.
SUBSTANTIAL INCREASE IN THE CAPITAL OF AGRO FINANCE REIT IS FORTHCOMING
On 7 March, 2007 the Financial Supervision Commission has approved the prospectus for initial public offering of shares from the second increase in the capital of Agro Finance REIT. The funds raised from the capital increase will be used for the purchase of agricultural land and repayment of the utilized resources from the two bank credit lines.
