Yep14 May 2018 09:10
2013 Mediapolis nav below. Doesn�t include now all the various court cases and bitcoin mining business.
Big re rate coming imo:
The Company is pleased to announce that Mediapolis SA ("Mediapolis"), its 69.45 per cent. owned real estate subsidiary, has today published its audited consolidated results for the year ended 31 December 2012.
Mediapolis has recorded net assets of EUR 27 million, with a loss of EUR 0.5 million, due mainly to mortgage interest payments of EUR 0.3 million.
A recent appraisal of the land has been conducted by Coldwell and Banker (http://www.coldwellbanker.it) and as at 10 April 2013, the land asset was valued at EUR 47 million. However, due to the current nature of the real estate market in Italy, the Board of Mediapolis has reduced this valuation by 25 per cent. to EUR 35million. This figure has been applied to Mediapolis' audited balance sheet.
Regarding the holiday properties owned by Mediapolis in Porto Cervo, Sardinia, a similar reduction in the book valuation has been applied. This has lowered the asset's value by 39 per cent., bringing the balance sheet value in line with the outstanding mortgage on the asset. In absolute terms the new valuation, for the purposes of Mediapolis' audited balance sheet, will be EUR 5 million, down from the original investment cost of EUR 8.