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Sigma Capital completes placing to raise funds to develop portfolio

Wed, 12th Aug 2015 10:41

(ShareCast News) - Residential development group Sigma Capital has raised £20m in a share placing as it seeks to build its own portfolio of assets.The London-listed company issued 26.7m at 75p each, representing a 6.8% discount to the prior's day closing price, and said the proceeds will be invested in a portfolio of private rented assets, which would complement its existing joint ventures with Bank and Grainger.In a separate announcement on Wednesday, the group said the delivery of 927 new rental homes in the North West was ahead of schedule."Our PRS portfolio target with Gatehouse has now expanded to 10,000 new homes over the next five years," said group chairman David Sigsworth."Complementing this, we are expecting to commence our first PRS site with Grainger in the second half."Meanwhile, the group reported a 0.5% year-on-year decline in reported net assets per share to 16.7p at the end of June, while the interim pre-tax loss more than doubled to £0.41m, as revenue declined 44.4% year-on-year to £1m.However, the group stressed it only started generating income from its PRS activities in the last quarter of 2014 and that PRS income comprised the major part of first half revenues.Sigma expects its own portfolio or private rented sector assets to improve returns and generate long-term income, the company said on Wednesday, adding it expects new rental homes to produce net income in excess of £2m per year and an indicative £13m of capital uplift."We are already deploying this platform successfully with Gatehouse with the first phase of 927 PRS homes well underway," said group chief executive Graham Barnet."The development of our own portfolio will significantly enhance returns and generate additional material long-term recurring income."Sigma shares were up 0.25% to 80.70p at 1100 BST on Wednesday.

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24 Apr 2018 14:45

Sigma Capital's 2017 Profit Rises On Exceptional Gains

LONDON (Alliance News) - Private-rented sector developer Sigma Capital Group PLC said on Tursday it saw a rise in profit for 2017 but revenue fell due to altered development schedules to create a

20 Apr 2018 13:04

Sigma Capital Buys Three Private Sector Sites To Deliver 214 New Homes

LONDON (Alliance News) - Sigma Capital Group PLC on Friday said it intends to buy three private rented sector sites in the North West and West Midlands for an undisclosed sum.The firm said

6 Feb 2017 13:51

Sigma Capital acquires three sites for its self-funded PRS portfolio

(ShareCast News) - Sigma Capital's shares fell almost 1% on news it is acquiring three sites in the West Midlands and North West to deliver about 200 more new rental homes for its self-funded PRS portfolio. The private rented sector specialist said the total gross development cost of the new homes,

6 Feb 2017 08:03

Sigma Capital Buys Three New UK Sites For Self-Funded Portfolio

24 Oct 2016 14:20

Sigma Capital launches £39m Liverpool regeneration scheme

(ShareCast News) - Property developer Sigma Capital has launched a £39m regeneration scheme in Liverpool, as part of a long standing relationship with the city's council. Funding for the regeneration scheme close to Lime Street Station, in the city centre, was secured with Curlew Student Trust, to b

24 Oct 2016 07:09

Sigma Capital Launches GBP39 Million Liverpool Regeneration Scheme

30 Sep 2016 14:01

Sigma Capital partners with UK gov to accelerate rental homes development

(ShareCast News) - Shares in urban regeneration developer Sigma Capital plummeted more than 13% on Friday afternoon when the AIM-listed company announced it had agreed a loan with the Homes and Communities Agency to accelerate construction at its rental homes development. The company agreed to a £45

3 Jun 2016 07:02

Sigma Signs Partnership With Keepmoat For Private Rented Sector Build

29 Apr 2016 11:46

DIRECTOR DEALINGS: Wife Of Sigma Capital Boss Sells Shares

19 Apr 2016 08:48

Sigma Capital Profit Soars As Progress Made On Developments

8 Apr 2016 08:59

Sigma Capital Executive Director William MacLeod Resigns

5 Jan 2016 08:31

LONDON MARKET OPEN: Next Left Behind As Stocks Rally On Chinese Action

5 Jan 2016 07:49

Sigma Capital to beat market expectations

(ShareCast News) - Private rented sector and regeneration specialist Sigma Capital expects to report pre-tax profit for the year to the end of December significantly ahead of current market expectations thanks to a solid second half. The group said the second half of the financial year has progre

5 Jan 2016 07:39

Sigma Capital To Beat Market View After Strong Second Half

20 Dec 2015 14:14

Sunday share tips: Sigma, Concha, ETFs

(ShareCast News) - Shares in Concha should be sold, said the Sunday Times' Inside the City column. The cash shell's shares have plunged after chairman Chris Akers failed to seal the deal on a "specific global opportunity", with nine months of talks coming to an end last Thursday. The share price now

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