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Secure Property Development & Investment PLC has announced an update on its proposed transaction with Adven, under revised terms that remove its classification as a reverse takeover. Adven is expected to enter share purchase agreements with at least 51 per cent of SPDI shareholders, valuing the company at around EUR 2 million. As part of the deal, SPDI shareholders will also get an option to invest up to GBP 2 million in Adven at a discounted price. The development follows ongoing restructuring efforts and is expected to support trading restoration and improve financial stability.
Secure Property Development & Investment PLC (SPDI) has provided an update on its proposed transaction involving Adven, stating that the revised structure of the deal will no longer be treated as a reverse takeover. This change is expected to simplify the process and support the restoration of trading in the company's shares. Advertisement
Under the amended heads of terms, Adven is planning to acquire a controlling stake in SPDI by entering into share purchase agreements with shareholders holding at least 51 per cent of the company's equity. The valuation of SPDI under these agreements is expected to be around EUR 2 million, indicating a modest pricing benchmark for the transaction.
As part of the arrangement, existing SPDI shareholders are being offered an opportunity to invest further capital into Adven. The offer allows investments of up to GBP 2 million at a discounted rate, which could help strengthen the acquiring entity's financial position while providing shareholders with continued exposure to the business.
The company also indicated that the restructuring of the transaction removes earlier regulatory complexities linked to reverse takeover classification. This shift is likely to make the deal execution smoother and align it better with market requirements.
SPDI, which has faced operational and financial challenges in recent years, has been working towards restructuring its business and stabilising operations. The proposed transaction with Adven is part of these broader efforts to improve liquidity, streamline ownership, and restore investor confidence.
Source Reuters
5th Jun, 2025
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