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Pin to quick picksSouth African Property Opportunities Share News (SAPO)

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South African Property Opportunities Planning To Voluntarily Wind-Up

Tue, 03rd Apr 2018 11:45

LONDON (Alliance News) - South African Property Opportunities PLC confirmed on Tuesday it is to seek shareholder approval to voluntarily liquidate the company.

On Thursday last week, the company said it would propose the wind-up after an unsuccessful attempt to sell its Brakpan asset in Gauteng province, South Africa.

South African Property expects its shares to be suspended from trading on London's AIM market on May 2, and if approved by shareholders, they will be cancelled the day after.

The firm said last week it had contracted to sell the Brakpan asset for ZAR11 million, or GBP650,000. However, the company attempted to enforce this contract without success.

For the six months to December 31, the company posted a comprehensive loss of GBP685,618, reflecting costs for the period together with an estimate of the future costs of the company up to the conclusion of the liquidation and the write off of remaining investment balances in South Africa.

The comprehensive loss compared to a GBP260,000 profit a year before. The company's pretax loss came in at GBP406,000, compared to a profit of GBP5.2 million a year earlier.

Shares were untraded on Tuesday at 0.20 pence each.

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South African Property Makes Board Changes As Trading On AIM Resumes

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2 May 2018 13:44

South African Property Opportunities Shares Temporarily Suspended (ALLISS)

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27 Apr 2018 16:57

South African Property Non-Exec Director Stephen Coe Steps Down

LONDON (Alliance News) - South African Property Opportunities PLC said Friday Non-Executive Director Stephen Coe has resigned with immediate effect for personal reasons.Non-Executive David

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24 Apr 2018 11:02

Investors In South African Property Opportunities Oppose Wind-Up Plans (ALLISS)

LONDON (Alliance News) - South African Property Opportunities PLC said Tuesday that investors holding a 81% stake were prepared to vote against proposals to de-list and wind-up the firm in early -

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29 Mar 2018 10:11

South African Property Shares Sink As It Plans Cancellation From AIM (ALLISS)

LONDON (Alliance News) - South African Property Opportunities PLC on Thursday said it intends to propose the winding-up of the company shortly after the unsuccessful attempt a

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6 Jan 2017 14:35

South African Property Opportunities making capital return

(ShareCast News) - South African Property Opportunities confirmed on Friday that a return of capital of 7.25p per ordinary share will be paid to shareholders. The company said this "represented the cash proceeds available for distribution from the portfolio realisations to date". The distribution c

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23 Dec 2016 09:03

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24 Mar 2016 11:23

South African Property Opportunities Net Assets Fall In Half

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21 Dec 2015 15:03

South African Property Opportunities Sees Challenges For Six Assets

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21 Dec 2015 10:39

Worsening rand a problem for SAPRO

(ShareCast News) - The South African rand played a smaller part in South African Property Opportunities' losses for the financial year, but the group still saw asset value decline in its results posted on Monday. SAPRO declared an operating loss of £6.147m for the year ended 30 June, widening from t

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