2 Sep 2008 15:57
DAEJAN HOLDINGS PLC
INTERIM MANAGEMENT STATEMENT
Daejan Holdings PLC (the Company) presents its interim management statement for the period ending 30 June 2008 as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
The Company published its Annual Report on 22 July 2008 for the full year to 31 March 2008. This interim management statement summarises any further relevant information for the first quarter of the current financial year.
Net Rental Income in the period in both the UK and USA is in line with our expectations. Sales of properties are rarely evenly spaced throughout the year and this year is no exception with no significant sales of property to report in the first quarter.
Since the refurbishment of our property at 164 Shaftesbury Avenue was completed in March three of the six floors have been let and there is strong interest in the remaining floors.
The redevelopment of properties in Worship Street in the City of London and Great Marlborough Street in the West End are on schedule to be completed at the end of the year.
On 29 August the freehold interests in nine care homes operated by Southern Cross Healthcare Group Plc were acquired for a consideration of £31.1 million with leasebacks to Southern Cross for a total rental of £2.5 million per annum.
As previously reported a final dividend for the year ended 31 March 2008 has been proposed for payment on 7 November 2008 subject to approval at the Annual General Meeting which will be held on Tuesday 16 September 2008. To qualify for the dividend shareholders must be on the register on 10 October 2008.
Other than the matters described above the Board is not aware of any material events during the period from 1 April to the date of this statement which would have a material impact on the financial position of the Company.
For further information call:
Mark Jenner
Company Secretary
Daejan Holdings PLC
020 7836 1555
Terry Garrett
Weber Shandwick
020 7067 0700