Member Info for Nousernameavail

The liquidation should result in the sale of £120m of property assets (see Savills valuation), against which there is debt of circa £20m. There should also be cash accumulating from rental income. The current market cap is £40m, which looks a good buy if you are going to get £100m back in the next few years; as long as there are no building remediation horrors. The Annual Report indicates that this risk is reducing.

By my quick calculations a good outcome would see £1 a share returned over next two years. A bad outcome, with some significant remediation issues, would see 80 pence a share returned over the next five years.

Looks like a good bet to me.