Last checked at 19 Jul 2010 09:00
Mountview Estates P.L.C.
19 July 2010
Mountview Estates P.L.C. ("the Company")
Annual Report and Accounts 2010 and Notice of Annual General Meeting
Mountview Estates P.L.C. has posted its Annual Report and Accounts for the year ended 31 March 2010 to shareholders together with its Notice of Annual General Meeting ("AGM").
The AGM will be held at the offices of Norton Rose LLP, 3 More London Riverside, London SE1 2AQ on 11 August 2010 at 11.30am.
The Chairman's statement released with the final results on 24 June 2010 was written before the government's first budget statement had been published and so the impact of the budget was not known at that time.
Given that the budget has since been published, the Chairman's statement included in the Annual Report and Accounts has been updated as follows:
This statement which was released on 24 June 2010 was necessarily written before the new government's first budget statement and so I could not know what further difficulties might be imposed upon us. We know now that Corporation Tax is to be reduced each year for four years which may benefit the Company but we know also that everyone will probably have less disposable income which may influence the strength of the housing market.
However I believe that the Company is very soundly positioned to survive the difficult times that may lie ahead and indeed to take advantage of the opportunities that may arise. During the year the Company has reduced its long-term borrowings by £23 million and has further reduced them since 1 April. I believe that during the next twelve months and more the Company will be presented with opportunities to make the asset purchases that will serve it well for years to come.
Copies of the Annual Report and Accounts and the Notice of AGM have been submitted to the UK Listing Authority. They will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at Financial Services Authority, 25 North Colonnade, Canary Wharf, London, E14 5HS, telephone +44 (0) 20 7066 1000.
These documents are also available for inspection at the Company's registered office at Mountview House, 151 High Street, Southgate, London N14 6EW.