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PME African losses widen as it seeks to sell Dar-es-Salaam property

Fri, 10th May 2019 10:01

(Sharecast News) - PME African Infrastructure Opportunities announced its audited results for the year ended 31 December on Friday, with its net asset value falling to $3.7m from $5.2m year-on-year.The AIM-traded firm said that made for a net asset value per share of 15 US cents, down from 21 cents per share in 2017.Its loss for the year totalled $1.5m, widening from $0.9m, with basic and diluted losses per share standing at 6.15 cents, compared to 2.41 cents a year earlier."The directors will market the sale of the Dar-es-Salaam Property, provided the local economic uncertainty has receded, the caveat has been removed and confirmation that the police investigation has been finalised with no further action being taken," commented chairman Paul Macdonald.A police investigation into the firm's office property investment in the Tanzanian city was opened in February 2018 by the owners of Dovetel - the company which PME had evicted from the building after acquisition."A further and final tender will be proposed once the building has been sold. It is not possible to give a timeline as to when this may take place."
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16 Sep 2019 11:39

PME African Infrastructure Opportunities Reports Flat Net Asset Value

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10 May 2019 11:07

PME African Infrastructure Opportunities Net Asset Value Falls In 2018

LONDON (Alliance News) - PME African Infrastructure Opportunities PLC on Friday said its net asset value fell in 2018 as the value of its property in Dar-es-Salaam, Tanzania, declined.The a

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7 May 2019 14:03

PME African Infrastructure Opportunities Gets EUR400,000 Loan

LONDON (Alliance News) - PME African Infrastructure Opportunities PLC on Tuesday said it secured EUR400,000 loan from Optas GmbH to cover general working capital purposes.The investment the

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18 Sep 2018 12:27

PME African Infrastructure Interim Loss Narrows On Fair Value Gains

LONDON (Alliance News) - PME African Infrastructure Opportunities PLC on Tuesday reported a narrowed interim loss on gains on financial assets at fair value.For the six months to the end of

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10 May 2018 14:09

PME African 2017 Net Asset Value Lower As It Seeks To Sell Assets

LONDON (Alliance News) - PME African Infrastructure Opportunities PLC on Thursday reported a slight decline in net asset value per share for 2017 as it looks to realise its remaining asset value a

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