RNS Number : 3910L
Cardiff Property PLC
30 April 2020
 

 

THE CARDIFF PROPERTY PUBLIC LIMITED COMPANY

AND ITS SUBSIDIARIES

 

FOR RELEASE                                    7.00 AM                                 30 April 2020

 

                                        THE CARDIFF PROPERTY PLC

LEI: 213800GE3FA4C52CIN05

 

The group, including Campmoss, specialises in property investment and development in the Thames Valley. The total portfolio under management, valued in excess of £30m, is primarily located to the west of London, close to Heathrow Airport and in Surrey and Berkshire.

 

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED 31 MARCH 2020

 

Highlights:

 

 

Six months

31 March

2020

(Unaudited)

Six months

31 March

2019

(Unaudited)

Year

30 September

2019

(Audited)

 

Net assets          

£'000

28,135

27,204

28,343

Net assets per share

£

23.03

21.84

22.85

Profit before tax

£'000

387

304

1,653

Earnings per share (basic and diluted)

pence

24.9

20.1

123.1

Interim/total dividend per share

 Pence

4.8

4.6

17.1

Gearing

%

Nil

Nil

Nil

 

Richard Wollenberg, Chairman, commented:

 

We are experiencing unprecedented and uncertain times. The property market endured three years of protracted Brexit negotiations and now the physical restrictions and economic concerns surrounding the Covid-19 pandemic. The Thames Valley property market has historically proved resilient to fluctuations in the wider UK market and whilst I expect this to remain it is extremely concerning to view the potential long-term damage caused to growth and stability by the necessary and important government lockdown measures.

 

For further information:

The Cardiff Property plc

Richard Wollenberg

  01784 437444

 

Shore Capital

       Patrick Castle

020 7468 7923

 

 

 

 

       

 

 

 

THE CARDIFF PROPERTY PLC

 

 

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED 31 MARCH 2020

 

 

 

INTERIM MANAGEMENT REPORT

 

 

Dear Shareholder,

 

We are experiencing unprecedented and uncertain times. The property market endured three years of protracted Brexit negotiations and now the physical restrictions and economic concerns surrounding the Covid-19 pandemic. The Thames Valley property market has historically proved resilient to fluctuations in the wider UK market and whilst I expect this to remain it is extremely concerning to view the potential long-term damage caused to growth and stability by the necessary and important government lockdown measures.

 

In the first quarter, September to December 2019, commercial property lettings and rent reviews were successfully completed. Residential lettings were similarly active with rental values remaining unchanged. Inevitably since early January activity in all sectors of the property market has been placed on hold. The commercial property investment market has slowed down albeit investors continue to search for income as benchmark interest rates have again moved lower.

 

In the current environment across the group we are liaising and assisting tenants who have requested a deferment of rent, these include agreeing to monthly payments in arrears rather than quarterly in advance and part payment allowed from rental deposits held.

 

The waiving of business rates, deferral of VAT payments, salary support and business grants should assist a number of our tenants. We are not proposing to accommodate a waiver of rent preferring to assist with cash flow where possible.

 

FINANCIALS

For the six months ending 31 March 2020 profit before tax amounted to £0.39m (March 2019: £0.30m; September 2019: £1.65m). This figure includes an after-tax loss from Campmoss Property Company Limited ("Campmoss") our 47.62% joint venture of £0.03m (March 2019 after tax loss £0.05m; September 2019 after tax profit £0.90m).

 

Revenue for the six months to 31 March 2020 represented by rental income totalled £0.34m (March 2019: £0.32m; September 2019: £0.65m). The Groups share of revenue from Campmoss was £0.32m (March 2019: £0.27m; September 2019: £0.53m), represented by rental income of £0.32m (March 2019: £0.27m; September 2019: £0.53m) and property sales of nil (March 2019: nil; September 2019: nil). Rental income and sales figures for Campmoss are not included in group revenue.

 

Net assets of the group as at 31 March 2020 were £28.14m (March 2019: £27.20m; September 2019: £28.34m) equivalent to £22.99 per share (March 2019: £21.84; September 2019: £22.85). The Company's share of net assets in Campmoss included on the group balance sheet amounted to £14.93m. (March 2019: £15.15m; September 2019: £15.60m). The  directors have taken into account recent RICS guidance and whilst there is currently a greater level of uncertainty due to COVID-19 on balance ,as mentioned, there are no material change in the investment value of the group's property portfolio as at 31 March 2020. The freehold investment properties held by Cardiff will be professionally valued at 30 September 2020.

 

During the six months to 31 March 2020 the company purchased for cancellation 18,362 Ordinary Shares (March 2019: 6,950 Ordinary Shares;  September 2019: 12,567 Ordinary Shares). There have been no material events or material changes in assets liabilities or related party relationships since 30 September 2019.

 

Current IFRS accounting recommends that deferred tax is chargeable on the difference between the indexed cost of properties and quoted investments and their current market value. However, current IFRS does not require the same treatment in respect of the group's unquoted investments in Campmoss, the 47.62% owned joint venture, which represents a substantial part of the company's net assets.

 

Whilst provision is made in Campmoss accounts for deferred tax, should the shares held in Campmoss be disposed of, for indicative purposes, based on the value in the company's balance sheet at 31 March 2020 this would result in a tax liability of £2.84m (March 2019: £2.58m; September 2019: £2.65m) equivalent to £2.29 per share  (March 2019: £2.07; September 2019 £2.14) calculated using a tax rate of 19% (March 2019: 17%; September 2019: 17%). This information is provided to shareholders as an additional, non-statutory, disclosure.

 

DIVIDEND

The directors have declared an interim dividend of 4.8p (interim March 2019: 4.6p; final September 2019: 12.5p) an increase of 4.3% which will be paid on 2 July 2020 to shareholders on the register at 29 May 2020.

 

THE INVESTMENT & DEVELOPMENT PORTFOLIO

The group's freehold property portfolio including those held by Campmoss, continues to be concentrated in the Thames Valley close to Heathrow Airport and to the west of London.

 

The Windsor Business Centre, Windsor, comprises of four business units totalling 9,500 sq. ft. and is fully let currently on short term leases. Planning permission to increase the existing space to a total of 19,000 sq. ft. was recently obtained and detailed plans are currently being prepared.

Office rents in Windsor have risen substantially over the past few years and any development decision will depend on market factors. In the meantime, the existing units remain available for sale.

 

Maidenhead Enterprise Centre, Maidenhead, comprises of six individual business units totalling 14,000 sq. ft. and is fully let. A new letting was recently agreed at an increased rental.

 

At The White House, Egham, the five ground floor retail units are all let. Part of the upper floor office space, which recently underwent extensive refurbishment, is available for let. The Property is centrally located in the High Street and benefits from excellent parking facilities.

 

Heritage Court, Egham, comprises of four retail units all of which are let. The upper residential floors were previously sold on a long leasehold basis.

 

At Cowbridge Road, Cardiff, the lease to Royal Mail for use as a Sorting Centre has expired and negotiations for a new short-term lease are in progress. A revised planning application for a new retail and residential building is currently being prepared.

 

The company occupies its own freehold offices in Egham. Following extensive refurbishment of a residential freehold property in Egham agents have been appointed to market for sale.

 

CAMPMOSS PROPERTY COMPANY LIMITED & SUBSIDIARIES

During the first half of the financial year Campmoss continued to actively manage their property portfolio including new lettings, preparation of new planning applications to existing freehold buildings, completion of development projects and sales and lettings of the residential portfolio.

 

The majority of retail tenants are those located at Market Street Bracknell, Berkshire close to the main railway station and adjacent to the recently developed Lexicon Shopping Centre. Whilst a number of essential retail outlets remain open for business those that have closed their operations should be eligible to access Government Grants and other Business support packages.

 

Alston House, Market Street, Bracknell, comprises of ten retail units on ground and first floor and twelve  residential units on the second and third floor. Six retail units are now let to local businesses leaving four currently available. Six of the residential units have been let on Assured Shorthold Tenancy Agreements with the remaining six apartments available for sale or letting.

 

I would draw shareholders attention to my earlier comments regarding the group's ongoing contact with retail tenants and practical measures to assist with cash flow where necessary.

 

At Britannia Wharf, Woking, development of the recently approved 52 residential apartment scheme has commenced with completion, subject to any further government measures, expected by the end of 2021. The construction, funded by Campmoss, is being undertaken as a joint venture with a well-known Surrey based construction and development company.

 

At Clivemont House, Clivemont Road, Maidenhead, planning permission was recently granted for a residential scheme totalling 80 apartments. Discussions are currently in progress to ascertain the group's future plans for this site.

 

At The Priory, Stomp Road, Burnham, the 26,000 sq. ft. building comprises 17,000 sq. ft. new office space over three floors and an adjoining Business Centre occupying 9,000 sq. ft. The new offices are let on medium term leases with break clauses whilst part of the Business Centre is available. Alternative uses for the property are currently being considered.

 

STAFF

I wish to take this opportunity on behalf of shareholders to thank our small management team for their support in these challenging and unprecedented times. Liaising and managing our tenant portfolio and actively responding to the fast changing environment is vital to the continued success of the group.

 

RELATIONSHIP AGREEMENT

The Company has entered into a written and legally binding Relationship Agreement with myself, its controlling shareholder, to address the requirements of LR9.2.2AD of the Listing Rules.

 

OUTLOOK

Allowing partial or total release from current lockdown measures will be vitally important in restoring business confidence and encouraging a return to a growing and vibrant economy.

 

The group's development programme is funded from our own existing resources and it will be important for the government to implement measures as soon as practically possible to encourage activity in the residential and commercial property market.

 

In these unpredictable times I look forward to reporting further at the year end.

 

J Richard Wollenberg

Chairman

30 April 2020

 

 

 

 Condensed Consolidated Interim Income Statement

FOR THE SIX MONTHS ENDED 31 MARCH 2020

 

 

 

 

 

 

Six months

31 March

2020
(Unaudited)

£'000

Six months

31 March

2019
(Unaudited)

£'000

Year

30 September

2019

(Audited)

£'000

Revenue

338

320

647

Cost of sales

(45)

(25)

(70)

 

______

______

______

Gross profit

293

295

577

Administrative expenses

(275)

(488)

Other operating income

290

287

577

 

______

______

______

Operating profit before gains on investment properties and other investments


308


326

 

666

Fair value movement on revaluation of investment properties

-

-

22

 

______

______

______

Operating profit

308

326

688

Financial income

34

29

61

Profit on sale of investment

74

-

-

Share of results of joint venture

(29)

(51)

904

 

______

______

______

Profit before taxation

387

304

1,653

Taxation

(78)

(53)

(117)

 

______

______

______

Profit for the period attributable to equity holders

309

251

1,536

 

______

______

______

 

 

 

 

Earnings per share on profit for the period - pence

 

 

 

Basic and diluted

24.9

20.1

123.1

 

______

______

______

 

 

 

 

Dividends

 

 

 

Final 2019 paid 12.5p (2018: 12.2p)

155

153

153

Interim 2019 paid 4.6p

-

-

57

 

______

______

______

 

155

153

210

 

______

______

______

Final 2019 proposed 12.5p

-

-

155

Interim 2020 proposed 4.8p (2019: 4.6p)

59

57

-

 

______

______

______

 

59

57

155

 

______

______

______

 

These results relate entirely to continuing operations. There were no acquisitions or disposals during these periods.

 

 

 

 

Condensed Consolidated Interim Statement of Comprehensive Income and Expense

FOR THE SIX MONTHS ENDED 31 MARCH 2020

 

 

 

 

 

 

 

Six months

31 March

2020
(Unaudited)
£'000

Six months

31 March

2019
(Unaudited)

£'000

Year

30 September

2019
(Audited)

£'000

 

 

 

 

Profit for the financial period

309

251

1,536

 

 

 

 

Items that cannot be reclassified subsequently to profit or loss

 

 

 

Net change in fair value of available for sale assets

(52)

(62)

(43)

Items that may be reclassified subsequently to profit or loss

 

 

 

Net change in fair value of other properties

-

-

(10)

 

______

______

______

Total comprehensive income and expense for the period attributable to equity holders of the parent company

 

257

 

189

 

1,483

 

______

______

______

 

Condensed Consolidated Interim Balance Sheet

AT 31 MARCH 2020

 

 

 

 

31 March

2020

(Unaudited)
£'000

31 March

2019
(Unaudited)
£'000

30 September

2019

(Audited)

£'000

Non-current assets

 

 

 

Freehold investment properties

6,000

5,962

5,995

Property, plant and equipment

282

296

284

Investment in joint venture

14,932

15,150

15,604

Other financial assets

886

824

843

 

______

______

______

Total non-current assets

22,100

22,232

22,726

 

_____

______

______

Current assets

 

 

 

Stock and work in progress

683

675

674

Trade and other receivables

183

108

139

Held to maturity cash deposits

2,714

3,597

3,084

Cash and cash equivalents

3,274

1,375

2,473

 

______

______

______

Total current assets

6,854

5,755

6,370

 

______

______

______

Total assets

28,954

27,987

29,096

 

______

______

______

Current liabilities

 

 

 

Trade and other payables

(613)

(474)

(528)

Corporation tax

(111)

(211)

(131)

 

______

______

______

Total current liabilities

(724)

(685)

(659)

 

______

______

______

Non-current liabilities

 

 

 

Deferred tax liability

(95)

(98)

(94)

 

______

______

______

Total non-current liabilities

(95)

(98)

(94)

 

______

______

______

Total liabilities

(819)

(783)

(753)

 

______

______

______

Net assets

28,135

27,204

28,343

 

______

______

______

 

 

 

 

Equity

 

 

 

Called up share capital

244

249

248

Share premium account

5,076

5,076

5,076

Other reserves

2,487

2,525

2,535

Investment property revaluation reserve

1,814

827

1,814

Retained earnings

18,514

18,527

18,670

 

______

______

______

Shareholders' funds attributable to equity holders

28,135

27,204

28,343

 

______

______

______

 

 

 

 

Net assets per share

£23.03

£21.84

£22.85

 

______

______

______

 

 

Condensed Consolidated Interim Statement of Cash Flows

FOR THE SIX MONTHS ENDED 31 MARCH 2020

 

 

 

 

 

Six months

31 March

2020
(Unaudited)
£'000

Six months

31 March

2019
(Unaudited)

£'000

Year

30 September

2019
(Audited)

£'000

 

 

 

 

Cash flows from operating activities

 

 

 

Profit for the period

309

251

1,536

Adjustments for:

 

 

 

Depreciation

2

2

5

Financial income

(34)

(29)

(61)

Share of loss/(profit) of joint venture

29

51

(904)

Profit on the sale of investments

(74)

-

-

Fair value movement on revaluation on of investment properties

-

-

(22)

Taxation

78

53

117

 

______

______

______

Cash flows from operations before changes in

working capital


310


328

 

671

Acquisition of inventory and work in progress

(8)

-

(2)

(Increase)/decrease in trade and other receivables

(44)

36

4

(Decrease)/increase in trade and other payables

(26)

(24)

30

 

______

______

______

Cash generated from operations

232

340

703

Tax paid

(97)

-

(147)

 

______

______

______

Net cash flows from operating activities

135

340

556

 

______

______

______

 

 

 

 

Cash flows from investing activities

 

 

 

Interest received

34

28

62

Dividend from Joint Venture

643

-

500

Acquisition of investments, and property, plant and equipment

(5)

(39)

(49)

Acquisition of investments

(100)

-

-

Proceeds from the sale of investments

78

-

-

Decrease/(increase) in financial assets

370

(3,397)

(2,884)

 

______

______

______

Net cash flows from investing activities

1,020

(3,408)

(2,371)

 

______

______

______

 

 

 

 

Cash flows from financing activities

 

 

 

Purchase of own shares

(199)

(122)

(220)

Dividends paid

(155)

(153)

(210)

 

______

______

______

Net cash flows from financing activities

(354)

(275)

(430)

 

______

______

______

 

 

 

 

Net increase/(decrease) in cash and cash equivalents

801

(3,343)

(2,245)

Cash and cash equivalents at beginning of period

2,473

4,718

4,718

 

______

______

______

Cash and cash equivalents at end of period

3,274

1,375

2,473

 

______

______

______

         

 

 

 

 

 

 

 

Condensed Consolidated Interim Statement of Changes in Equity
FOR THE SIX MONTHS ENDED 31 MARCH 2020 

 

 

 

 

 

 

 

 

 

Share
capital

    £'000

 

Share
premium
account

£'000

 

 

Other
reserves

£'000

Investment
property
revaluation
reserve

    £'000

 

 

Retained
earnings

£'000

 

 

Total
equity

£'000

 

 

 

 

 

 

 

At 1 October 2018

251

5,076

2,585

827

18,551

27,290

Profit for the period

-

-

-

-

251

251

Other comprehensive income - revaluation of investments


-


-


(62)


-


-


(62)

Transactions with equity holders

Dividends


-


-


-


-


(153)


(153)

Purchase of own shares

(2)

-

2

-

(122)

(122)

 

______

______

______

______

______

______

Total transactions with equity holders

(2)

-

2

-

(275)

(275)

 

______

______

______

______

______

______

At 31 March 2019

249

5,076

2,525

827

18,527

27,204

Profit for the period

-

-

-

-

1,285

1,285

Other comprehensive income - revaluation of investments

-

-

19

-

-

19

Revaluation of other property

-

-

(10)

-

-

(10)

Transactions with equity holders

Dividends


-


-


-


-


(57)


(57)

Purchase of own shares

(1)

-

1

-

(98)

(98)

 

______

______

______

______

______

______

Total transactions with equity holders

(1)

-

1

-

(155)

(155)

 

______

______

______

______

______

______

Transfer on revaluation of investment properties - Cardiff


-


-


-


22


(22)


-

Transfer on revaluation of investment properties - Campmoss


-


-


-


965


(965)


-

 

______

______

______

______

______

______

At 30 September 2019

248

5,076

2,535

1,814

18,670

28,343

Profit for the period

-

-

-

-

309

309

Other comprehensive income - revaluation of investments


-


-


(52)


-


-


(52)

Transactions with equity holders

Dividends


-


-


-


-


(155)


(155)

Purchase of own shares

(4)

-

4

-

(310)

(310)

 

______

______

______

______

______

______

Total transactions with equity holders

(4)

-

4

-

(465)

(465)

 

______

______

______

______

______

______

At 31 March 2020

244

5,076

2,487

1,814

18,514

28,135

 

______

______

______

______

______

______

                 
 

 

 

Statement of Responsibility

FOR THE SIX MONTHS ENDED 31 MARCH 2020

 

The directors are responsible for preparing the condensed consolidated interim financial statements for the six months ended 31 March 2020 and they confirm, to the best of their knowledge and belief, that:

 

·      the condensed consolidated set of interim financial statements for the six months ended 31 March 2020 has been prepared in accordance with IAS 34 - Interim Financial Reporting, as adopted by the EU;

·      the interim management report includes a fair review of the information required by:

a)    DTR 4.2.7R of the Disclosure and Transparency Rules, being an indication of important events that have occurred during the first six months of the financial year and their impact on the condensed set of interim financial statements and a description of the principal risks and uncertainties for the remaining six months of the year; and

b)    DTR 4.2.8R of the Disclosure and Transparency Rules, being related party transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or performance of the group during that period; and any changes in the related party transactions described in the last annual report that could do so.

 

 

J Richard Wollenberg, Chairman

 

Karen L Chandler, Finance director

 

Nigel D Jamieson, Independent non-executive director

 

30 April 2020

 

 

 

Notes to the Condensed Consolidated Interim Financial Statements

FOR THE SIX MONTHS ENDED 31 MARCH 2020

 

1. Basis of preparation

This condensed set of financial statements has been prepared in accordance with IAS 34 - Interim Financial Reporting as adopted by the EU.

 

The annual financial statements of the group are prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted by the EU. As required by the Disclosure and Transparency Rules of the Financial Conduct Authority, the condensed set of financial statements has been prepared applying the accounting policies and presentation that were applied in the preparation of the group's published consolidated financial statements for the year ended 30 September 2019.

 

The comparative figures for the financial year ended 30 September 2019 are not the group's statutory accounts for that financial year. Those accounts have been reported on by the group's auditor and delivered to the registrar of companies. The report of the auditor was: unqualified; did not give any reference to any matters to which the auditor drew attention by way of emphasis without qualifying their report; and did not contain a statement under sections 498 (2) or (3) of the Companies Act 2006.

 

Accounting policies

The condensed consolidated interim financial statements have been prepared applying the accounting policies that will be applied in the preparation of the group's financial statements for the year ended 30 September 2020.

 

The only change to International Financial Reporting Standards which is relevant to the group which have arisen since the last year end is the implementation of IFRS 16 (Leases).  The directors have concluded that the impact of this new Standards is unlikely to be material to the Group and, consequently, in all other respects these condensed consolidated interim financial statements have been prepared on the same basis as the group's financial statements for the year ended 30 September 2020.

 

Use of estimates and judgement

The preparation of financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expense. Actual results may differ from these estimates.

 

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected. The key areas in which estimates have been used and the assumptions applied are in valuing investment properties and properties in the joint venture, in valuing available for sale assets, in classifying properties and in the calculating of provisions.

 

An external, independent valuer, having an appropriate recognised professional qualification and recent experience in the location and category of property being valued, values the company's property portfolio at the end of each financial year. The directors of the joint venture value its portfolio each year; such valuation takes into account yields on similar properties in the area, vacant space and covenant strength. The directors of the group and joint venture review the valuations for the interim financial statements.

 

A provision is recognised in the balance sheet when the group has a present legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefit will be required to settle the obligation. If the effect is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability.

 

Going concern

The group has sufficient financial resources to enable it to continue in operational existence for the foreseeable future, to complete the current maintenance and development programme and meet its liabilities as they fall due. Accordingly, the directors consider it appropriate to continue to adopt the going concern basis in preparing these interim financial statements.

 

 

Notes to the Condensed Consolidated Interim Financial Statements

FOR THE SIX MONTHS ENDED 31 MARCH 2020 (continued)

 

2. Segmental analysis

The group manages its operations in two segments, being property and other investments and property development. The results of these segments are regularly reviewed by the board as a basis for the allocation of resources, in conjunction with individual site investment appraisals and to assess their performance. Information regarding the revenue and profit before taxation for each reportable segment is set out below:

 

 

 

 

 

 

Six months

31 March

2020

(Unaudited)
£'000

Six months

31 March

2019
(Unaudited)

£'000

Year

30 September

2019
(Audited)

£'000

 

 

 

 

Revenue (wholly in the United Kingdom)

 

 

 

Property and other investments being gross rents

Receivable

 

338

 

320

 

647

 

______

______

______

 

 

 

 

 

 

 

 

Profit before taxation

 

 

 

Property and other investments

202

206

1,462

Property development

185

98

191

 

______

______

______

 

387

304

1,653

 

______

______

______

 

 

 

 

The operations of the group are not seasonal.

 

3. Taxation

The tax position for the six-month period is estimated on the basis of the anticipated tax rates applying for the full year.

 

4. Dividends

The interim dividend of 4.8p per share will be paid on 2 July 2020 to shareholders on the register on 29 May 2020. Under accounting standards this dividend is not included in the condensed consolidated interim financial statements for the six months ended 31 March 2020.

 

5. Earnings per share

Earnings per share has been calculated using the profit after tax for the period of £309,000 (March 2019: £251,000; September 2019: £1,013,000) and the weighted average number of shares as follows:

 

 

Weighted average number of shares

 

 

 

31 March

2020

31 March

2019

30 September

2019

 

(Unaudited)

(Unaudited)

(Audited)

 

 

 

 

Basic and diluted

1,238,595

1,250,872

1,247,277

 

_________

_________

_________

 

 

 

Directors and Advisers

 

 

Directors

Auditor

J Richard Wollenberg

Crowe U.K. LLP

Chairman and chief executive

 

 

Karen L Chandler FCA

 

Finance director

Stockbrokers and financial advisers

 

Nigel D Jamieson BSc, FCSI

Shore Capital

Independent non-executive director

 

 

 

 

 

Secretary

Bankers

Karen L Chandler FCA

HSBC Bank plc

 

 

 

 

Non-executive director of wholly owned subsidiary

Solicitors

First Choice Estates plc

Blake Morgan LLP

Charsley Harrison LLP

Derek M Joseph BCom, FCIS

 

 

 

Head office

Registrar and transfer office

56 Station Road

Neville Registrars Limited

Egham, TW20 9LF

Neville House

Telephone: 01784 437444

Steelpark Road

Fax: 01784 439157

Halesowen

E-mail: webmaster@cardiff-property.com

B62 8HD

Web: www.cardiff-property.com

Telephone: 0121 585 1131

 

 

 

 

Registered office

Registered number

56 Station Road

00022705

Egham, TW20 9LF

 

 

 

 

 

 

 

 

Financial Calendar

 

 

2020

30 April

Interim results for 2020 announced

 

28 May

Ex-dividend date for interim dividend

 

29 May

Record date for interim dividend

 

2 July

Interim dividend to be paid

 

30 September

End of accounting year

 

December

Final results for 2020 announced

2021

January

Annual General Meeting

 

February

Final dividend to be paid

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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