7th April 2008
Develica Deutschland directors increase shareholding
Develica Deutschland directors continue to acquire shares in the company, with almost 150,000 shares bought in the week commencing 24th March alone. John Hallam acquired a further 25,000 shares in DDL taking his total holding to 100,000 shares, while Grant Tromans announced the acquisition of a further 124,313 shares, bringing his holding to 3,624,813 shares, equivalent to 1.45% of the issued share capital.
Mr Hallam said "I believe that the Company's shares are undervalued and the current price levels present an excellent opportunity to increase my holding in the business which I believe has a tremendous future."
Mr Tromans commented that "The company is virtually fully invested at €1.07bn of well let property that is delivering sustainable and mainly index-linked income from a wide range of strong covenants. This generates a healthy revenue surplus and will produce a positive yield to shareholders. I also believe that within our well balanced portfolio there are opportunities to enhance both income and capital values over the medium term."