Business
Valuation Announcement
Valuation Announcement.
About this update from Audioboom Group Plc
[{"type":"text","content":"\n RNS Number : 3672B Off-Plan Fund Limited (The) 14 August 2008 \n \n\n\n\n\nFor Immediate Release\n\n\n14 August 2008\n\n\n\n\n\n\nThe Off-plan Fund Limited\n\nValuation Announcement\n\nThe Board of The Off-plan Fund Limited (the 'Fund'), which specialises in providing forward finance to UK housebuilders, is pleased to announce the Fund's quarterly valuation for the period ending 30 June 2008.\n\n\n\nThe net asset value of the Fund prepared under historical cost convention as at that date was £9.4m (84.6p per share) (84.9p as at 31 March 2008)\n\n\n\n\n\nUsing Red Book* valuations for the underlying properties, the estimated net asset value of the Fund was £10.9m (98.2p per share) (101.6p as at 31 March 2008)\n\n\n\n* The nature of the Fund's investments mean that, under current accounting standards, the discounts to market value achieved by the Fund, cannot be recognised in the reported balance sheet. The Fund therefore obtains an independent 'Red Book' valuation of the assets within the property portfolio in order that shareholders can identify this additional value. The Red Book is the Asset Valuation Practice and Guidance Notes of the Royal Institution of Chartered Surveyors and is the industry standard method for valuing investment properties. The valuations were prepared by independent surveyors as at 31 March 2008, the date of the last interim financial statements.\n\n\nList of Contacts\nDevelopment Capital Management\nRoger Hornett\nAndy Gardiner\n020 7399 4270\n\nNumis Securities Limited\nNominated Adviser\nNick Westlake\n020 7260 100\nCorporate Broking\nCharles Farquhar\n020 7260 100\n\nBuchanan Communications\nCharles Ryland\nIsabel Podda\n020 7466 5000\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCEADPLFLXPEFE \n ","length":3450,"tagName":"div"}]