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15 May 2008 09:54
CLOSE HIGH INCOME PROPERTIES PLC (the "Company")
ANNOUNCEMENT OF NAV
The board of Close High Income Properties PLC advises that as at close of business on 30 April 2008, the unaudited net asset value per Ordinary Share of 1 penny each of the Company was 87.13 pence (31 March 2008: 89.01 pence). The unaudited net asset value per "D" Ordinary Share of 1 penny each was 62.68 pence (31 March 2008: 64.88 pence). This represents a decrease of 2.11 per cent per Ordinary Share and a decrease of 3.39 per cent per "D" Ordinary Share.
The net asset value is based on the external valuation of the Company's property portfolio prepared by DTZ Debenham Tie Leung Limited at 31 March 2008.
There were no property sales completed during April 2008.
The net asset value is calculated under International Financial Reporting Standards ("IFRS").
Set out below is a breakdown of the change to the unaudited net asset values per share calculated over the period from 31 March 2008 to 30 April 2008.
|
Ordinary Share |
"D" Ordinary Share |
|||
|
Pence per share |
% of opening NAV |
Pence per share |
% of opening NAV |
|
|
Net asset value per share as at 31 March 2008 |
89.01 |
64.88 |
||
|
Capital distribution paid to shareholders |
(1.63) |
(1.83) |
(1.25) |
(1.93) |
|
Increase / (decrease) in interest rate swap valuation |
(0.09) |
(0.10) |
0.04 |
0.07 |
|
Movement in revenue reserves |
(0.16) |
(0.18) |
(0.99) |
(1.53) |
|
Net asset value per share as at 30 April 2008 |
87.13 |
(2.11) |
62.68 |
(3.39) |
The property portfolio will next be valued by an external valuer at 30 June 2008 and the net asset value per share as at 31 May 2008 will be announced in June 2008.
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