IMPT.L Regulatory News (IMPT)

17 Jan 2008 16:14

Close High Income Properties PLC17 January 2008 Close High Income Properties PLCNet Asset Value AnnouncementAs at 31 December 2007 The board of Close High Income Properties Plc (the "Company") advise that as atclose of business on 31 December 2007, the unaudited net asset value perOrdinary Share of 1 penny each of the Company was 101.16 pence (30 November:118.91 pence). The unaudited net asset value per "D" Ordinary Share of 1 pennyeach was 72.52 pence (30 November: 87.13 pence). This represents a decrease of14.9 per cent per Ordinary Share and a decrease of 16.8 per cent per "D"Ordinary Shares. The net asset value is based on the external valuation of the Company's propertyportfolio prepared by DTZ Debenham Tie Leung Limited. The net asset value is calculated under International Financial ReportingStandards ("IFRS"). The net asset value is calculated ex the dividend declared and payable on 31January 2008 of 2.125 pence per Ordinary Share and 1.625 pence per "D" OrdinaryShare. Set out below are a breakdown of the change to the unaudited net asset valuesper share calculated over the period from 30 November 2007 to 31 December 2007. Ordinary Share "D" Ordinary Share Pence per share % of opening Pence per % of opening NAV share NAV Net asset value per share as at 30 November 2007 118.91 87.13Unrealised decrease in valuation of property portfolio (18.53) (15.6%) (12.73)(including the effect of gearing) (14.6%)Decrease in interest rate swap valuation (0.48) (0.4%) (0.34) (0.4%)Movement in revenue reserves 1.26 1.1% (1.54) (1.8%)Net asset value per share as at 31 December 2007 101.16 (14.9%) 72.52 (16.8%) \* The ungeared decrease in the valuation of the property portfolio for OrdinaryShares were 7.9% and for the "D" Ordinary Shares were 8.1% over the quarter to31 December 2007. The Board will release revised net asset values for 31 January 2008 and 29February 2008 based upon property transactions and the revaluation of interestrate swaps in due course. The property portfolio will next be valued by an external valuer at 31 March2008 and the net asset value per share as at 31 March 2008 will be announced inApril 2008. This information is provided by RNS The company news service from the London Stock Exchange