Member Info for tqhussain

U +I (LSE:UAI), the specialist regeneration developer and investor, announces that Mayfield in Manchester has secured £23 million in grant funding from the Government's £900 million Getting Building Fund.



This is a major milestone for this £1.5 billion Gross Development Value scheme, as the funding primes the first phase of Mayfield for delivery, ensuring work can start on Manchester city's first public park in over one hundred years in the final quarter of 2020. Other parts of Phase 1 include a nine-storey 75,900 sq.ft. office building, a 13-storey 244,000 sq.ft. office building and a 581-space multi-storey car park in the heart of Manchester. These will also start construction this year, with the first buildings completed in 2022.



The overall scheme is expected to deliver c.£60-80 million of profit and c.£40 million in development management fees to U+I over its lifespan. Development management fees start to accrue to U+I in FY2021.

Mayfield secures £23m in Government funding

Financial highlights

· Revenue £98.5m (2019: £52.6m) +87%

· Organic growth of revenue c. 5%

· Operating profits £26.2m (2019: £15.2m) +72%

· Adjusted* profit before tax £8.0m (2019: £5.9m) +36%

· Non-recurring acquisition costs and related material items £1.7m (2019: £14.3m)

· Adjusted** diluted earnings per share 14.9p (2018: 18.8p) -21%, reflecting equity issue

· Dividend cancelled in view of uncertainty caused by Covid-19 (2019: 6.0p)

· Net cash generated by operating activities £14.7m (2019: £5.9m)

· Net borrowings £9.0m (2018: net borrowings £2.9m), £1.2 million of external debt repaid since draw down in June 2019 and pay down continuing

agree, its just a change in holdings not a reduction.

They way I see it, 1AF2 (AZ is a director) has taken a loan using its shares in SYME as collateral and is using these funds to inject money in to SYME's Open-Funding and Self-Funding structures.

Not that its of any major interest but I can't see any mention of the loan terms from the lenders to IAF2 but IAF2 intends to repay the loans in minimum 2 years. IMO AZ must feel fairly confident on the returns in the investment from SYME.

Taken from a recent presentation:

? 20,000 -100,000 tpa perlite (sales value up to c. $10m per annum at
mine gate)
? 100,000-500,000 tpa pozzolan (sales value up to c. $50m per annum
when ground and delivered)

JTS - I am a simple trader/investor and I don't know anything about standard leveraging, I just follow the price of spot gold and I didn't see a massive drop hence my comment.

Massive? gold @ $1918

'Client companies already originated and awaiting inventory funding stand at 97'

I take this as 97 businesses already wanting to take up this model of funding and we are taking about decent size businesses.

Really like the principle of the business. Companies hate having inventory on their books (locked up money) but at the same time inventory is crucial to running a successful business. This system allows businesses to free up cash at a small cost while being able to hold physical stock to operate properly.

I have a feeling this will be big.

Now is the time to get the funding sorted and on the best terms for KAT.

Totally agree, the current share price just about reflects Yanfolila production.

40p should be broken today.

DTM - I doubt it will come down if BTC price keeps rising but I don't care, the higher BTC price the more valuable is ARB.

nice update, happy with my 5m+ shares.

massive news, this will re-rate now.

GB - with all the money being printed worldwide, major currencies are being devalued which bodes well for gold.

This is one on the cheapest if not the cheapest gold production stock on the market imo.

thanks for the info, I just took the LSE data for face value.

MC 3m? where does it say that?

Listing MED on the market will give KIBO are better visibility of its worth.

I'm in for a bit of fun, with recent crazy rises anything is possible.