Balanced Commercial Property Trust Regulatory News (BCPT)

12 Oct 2007 10:24

F&C Commercial Property Trust Ltd12 October 2007 To: Company Announcements Date: 12 October 2007 Company: F&C Commercial Property Trust Limited Subject: Net Asset Value Net asset value The unaudited net asset value per share of F&C Commercial Property Trust Limitedas at 30 September 2007 was 143.3 pence. This represents a decrease of 2.8 percent from the net asset value per share as at 30 June 2007 of 147.4 pence. The net asset value is based on the external valuation of the Group's propertyportfolio prepared by DTZ Debenham Tie Leung Limited. The net asset value is calculated under International Financial ReportingStandards ("IFRS"). The net asset value includes all income to 30 September 2007 and is calculatedafter deduction of all dividends paid prior to that date. It does not includeprovision for the quarterly interim dividend, which had an ex-dividend date of26 September 2007 and which will be paid on 26 October 2007, or the quarterlyinterim dividend, which had an ex-dividend date of 10 October 2007 and whichwill be paid on 25 January 2008. The adjusted Net Asset Value per share afterdeducting such quarterly dividend payments was 140.3 pence. Breakdown of NAV movement Set out below is a breakdown of the change to the unaudited net asset value pershare calculated under IFRS over the period from 30 June 2007 to 30 September2007.+----------------------------------------------------+-------+-------+| | Pence| % of|| | per|opening|| | share| NAV|+----------------------------------------------------+-------+-------+|Net asset value per share as at 30 June 2007 | 147.4| |+----------------------------------------------------+-------+-------+|Unrealised decrease in valuation of property | (3.9)| (2.7)*||portfolio (including the effect of gearing) | | |+----------------------------------------------------+-------+-------+|Realised gains on sales of properties | -| -|+----------------------------------------------------+-------+-------+|Gain arising from share buy backs | 0.1| 0.1|+----------------------------------------------------+-------+-------+|Movement in revenue reserves | (0.3)| (0.2)|+----------------------------------------------------+-------+-------+|Net asset value per share as at 30 September 2007 | 143.3| (2.8)|+----------------------------------------------------+-------+-------+ \* The ungeared decrease in the valuation of the property portfolio (including theindirect property funds valued at Net Asset Value) over the quarter to 30September 2007 was 2.3%. The property portfolio will next be valued by an external valuer during December2007 and the net asset value per share as at 31 December 2007 will be announcedin January 2008. Enquiries: The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QL Tel: 01481 745001Fax: 01481 745051 Richard Kirby F&C Investment Business LimitedTel: 0207 628 8000 This information is provided by RNS The company news service from the London Stock Exchange