Company profile

New Europe Property Investments plc is a commercial property company which indirectly holds 35 properties. The Company was registered in 2007 in Isle of Man and subsequently listed on the Main Board of the Johannesburg Stock Exchange (share code NEP), the regulated market of the Bucharest Stock Exchange (share code NEP) and the AIM market of the London Stock Exchange (share code NEPI). The shares are transferable among the three registers.

The investment portfolio is currently focused on Romania but could later include other Eastern European countries. The Group focuses on investments in dominant or potentially dominant retail assets but invests opportunistically in office and industrial properties as well. The investment strategy is biased towards long-term leases in euro with strong corporate covenants.

The Group is internally managed combining property and asset management, as well as investment and development skills, in an integrated approach.

The Company distributes its net rental profits on a semi-annual basis.

	2011	2010	2009	2008
Number of properties	34	33	30	29
Property value (€m)	342	314	146	85
Gross lettable area (sqm)	219,000	214,000	140,000	87,000
Distribution per share (€ cents)	20.25	17.61	15.77	14.72
Adjusted NAV per share (€)	2.43	2.22	1.97	1.98
Gearing ((loans - cash)/property value)	32%	49%	46%	34%
Shares in issue	102,783,693	76,933,734	40,657,663	28,150,000