IMPT.L Regulatory News (IMPT)

18 Feb 2008 16:09

Close High Income Properties PLC18 February 2008 Close High Income Properties PLCNet Asset Value AnnouncementAs at 31 January 2008 The board of Close High Income Properties Plc (the "Company") advise that as atclose of business on 31 January 2008, the unaudited net asset value per OrdinaryShare of 1 penny each of the Company was 101.00 pence (31 December 2007: 101.16pence). The unaudited net asset value per "D" Ordinary Share of 1 penny each was71.26 pence (31 December 2007: 72.52 pence). This represents a decrease of 0.16per cent per Ordinary Share and a decrease of 1.74 per cent per "D" OrdinaryShares. The net asset value is based on the external valuation of the Company's propertyportfolio prepared by DTZ Debenham Tie Leung Limited at 31 December 2007 as wellas property transactions completing during the month of January 2008. During the month of January 2008 three properties within the Ordinary shareportfolio were sold for £3.71 million before costs of sale. These propertieswere valued at 31 December 2007 at £3.63 million and the sales represent a netloss of £0.017 million after including costs of sale. The net proceeds from the sales have been applied partially towards the existingloan facility and partially to maintain liquidity reserves within the Company. The net asset value is calculated under International Financial ReportingStandards ("IFRS"). Set out below is a breakdown of the change to the unaudited net asset values pershare calculated over the period from 31 December 2007 to 31 January 2008. Ordinary Share "D" Ordinary Share Pence per share % of opening Pence per % of opening NAV share NAVNet asset value per share as at 31 December 2007 101.16 72.52Movement from sales of property during January 2008 (0.02) (0.02%) - -Decrease in interest rate swap valuation (0.04) (0.04%) (0.19) (0.26%)Movement in revenue reserves (0.10%) (1.07) (1.48%) (0.10)Net asset value per share as at 31 January 2008 101.00 (0.16%) 71.26 (1.74%) The Board will release revised net asset values for 29 February 2008 based uponproperty transactions and the revaluation of interest rate 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