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South African Property Opportunities

12:58 on 20/11/2017

Current Price 0.75p | Bid 0.75p | Ask 1.25p | Change -11.11%

Company Overview

South African Property Opportunities plc's strategy will be to generate attractive returns by targeting opportunities in the South African property market with a view to benefiting both from active portfolio management and underlying economic growth. The Directors and Investment Manager believe that South African commercial investment property offers attractive income yields against a backdrop of South Africa's solid macroeconomic fundamentals. At the same time, property development opportunities and returns are being driven by increasing urbanisation and the rapid emergence of a black middle class. The Company intends to invest primarily in the following manner: greenfield developments including large mixed-use sites targeted to meet the demands of increased urbanisation; brownfield redevelopments targeted mainly at providing housing and amenities for the emerging black middle class; provision of mezzanine finance to existing Investors and developers, which should provide access to immediate opportunities at attractive yields; and commercial investment property with attractive income yields. The Company may also invest in special situation corporate opportunities (whether listed or not) where potential is perceived to generate returns from underlying properties. Investments will be made throughout South Africa but concentrated in and around South Africa's economic hub, Gauteng. Investment elsewhere in Southern Africa may also be considered. The proceeds of the Placing are expected to be deployed within 18 months following Admission. The proportions to be made up of these different elements are likely to fluctuate according to market conditions and the availability of investment opportunities. The Investment Manager and the Directors understand the importance of Black Economic Empowerment and the transformation of the property sector in South Africa. To this end they have engaged the Strategic Adviser to facilitate the Company's participation in this important segment in the market. The Investment Manager and the Directors believe that this arrangement will provide significant and attractive opportunities going forward. There is no fixed period in which the Company is required to make an investment before being obliged to return funds to shareholders. Following the identification of a potential new investment opportunity, the Investment Adviser, in conjunction with external advisers and partners as appropriate, will be tasked with providing a detailed feasibility study which will aim to validate the quality and suitability of the opportunity. Should the Investment Adviser recommend the opportunity, the feasibility study and recommendation will be presented to the Investment Manager for an 'in principle' decision on whether to proceed with the investment on behalf of the Company. Final investment decisions will be made in accordance with procedures to be approved from time to time by the Board and, in any event where the total amount to be invested by the Company exceeds 15 per cent. of its net assets or there is a potential conflict of interest, Board approval will be required. Once an investment decision is made in principle, the Investment Manager, assisted by the Investment Adviser, as appropriate, will carry out due diligence on the proposed investmen

Stock Details

Shares in Issue 62,292,810
Market cap £ 4.05m
Sector Real Estate Investment & Services

Financial Highlights Year Ended 30/06/2014

Turnover £13.36 million
Operating Profit £-2.27 million
Dividend Yield 0.00
Dividend Per Share 0.00
Dividend Cover 0.00
P/E Ratio -0.61
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Price Summary

Mid Price ? 1.00p
Bid Price ? 0.75p
Ask Price ? 1.25p
Volume ? 168170
Change Today -0.13p
% Change Today -11.11%
Open 1.00p
Previous Close 1.13p
Intraday High 1.20p
Intraday Low 0.75p
52 Week High 18.88p
52 Week Low 5.00p

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