Mountview Estates PLC
16 November 1999
Mountview Estates plc ('Mountview' or 'the Company')
Acquisition of A.L.G. Properties Limited ('ALG') and Louise
Goodwin Limited ('Louise Goodwin')
The Board of Mountview today announces the acquisition of
ALG and Louise Goodwin, two London property investment and
management companies, both in the ownership of the Goodwin
family. Combined consideration for both companies is
£18,027,000, being £2,884,320 for ALG and £15,142,680 for
Louise Goodwin, payable in cash from Mountview's own
resources.
Financial Information on ALG and Louise Goodwin
For the financial year to 25th March, 1999 ALG recorded a
loss before taxation of £94,895; net assets at the year end
were £1,649,773.
For the financial year to 31st March 1999, Louise Goodwin's
profits before taxation were £108,266; net assets at the
year end were £11,589,956.
Reasons for Acquisitions
ALG and Louise Goodwin own and rent residential properties
in the Belsize Park area of London; a typical property is a
large dwelling house that has been sub-divided into a number
of separate apartments. Historically, the property
portfolios owned by ALG and Louise Goodwin have been managed
on a long-term investment basis. Mountview believes that
its active approach to the management of residential
property should improve the returns from both acquisitions.
Further Information:
Frank Malcolm Tel: 0131 225 2566
Bell Lawrie White & Co.
(a division of Brewin Dolphin
Securities Ltd., stockbrokers to Mountview)