The Conygar Investment Company PLC (“Conygar”) is an AIM quoted property investment and development group dealing primarily in UK property. The group aims to invest in property assets where we can add significant value using our property management, development and transaction structuring skills.

http://www.conygar.com/

-4 September 2013

THE CONYGAR INVESTMENT COMPANY PLC

DIRECTOR DEALING

The Conygar Investment Company PLC (the "Company") advises that it received notification on 4 September 2013 that on that date Robert Ware, Chief Executive, bought 50,000 ordinary 5 pence shares in the Company ("shares") at a price of 129 pence per share. Following this transfer, Mr Ware's notifiable holding in the Company will be 3,550,000 shares representing 4.00% of the Company's total voting rights.


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Director Dealing

RNS


RNS Number : 1593P

Conygar Investment Company PLC(The)

27 September 2013








27 September 2013

THE CONYGAR INVESTMENT COMPANY PLC

DIRECTOR DEALING

The Conygar Investment Company PLC (the "Company") advises that it received notification on 27 September 2013 that on that date Nigel Hamway, Chairman, bought 17,500 ordinary 5 pence shares in the Company ("shares") at a price of 130 pence per share. Following this transaction, Mr Hamway's notifiable holding in the Company is 984,500 shares representing 1.11% of the Company's total voting rights.



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Director Dealing

RNS


RNS Number : 5609O

Conygar Investment Company PLC(The)

20 September 2013






For immediate release

20 September 2013

THE CONYGAR INVESTMENT COMPANY PLC

DIRECTOR DEALING

The Conygar Investment Company PLC (the "Company") advises that it received notification on 19 September 2013 that on that date Preston Rabl, Executive Director, bought 250,000 ordinary 5 pence shares in the Company ("shares") at a price of 128.5 pence per share. Following this transfer, Mr Rabl's notifiable holding in the Company will be 1,145,480 shares representing 1.29% of the Company's total voting rights.

Simon T. OF IC today -


Shrewd insider buying at a property play


I always pay keen attention to the sharedealing of directors as it can be a great signal that the trading performance of a company is far better than the market is giving it credit for. And when more than one director gets in on the act, it can be a very strong buy signal indeed. Of course, the investment case has to stack up in the first place, but more often than not large director deals in small-cap companies coincide with an upbeat operational performance. The combination can act as a strong tailwind for the share price when other investors wise up.

Bearing this in mind, I have noted some very heavy trades in the shares of Aim-traded property vulture fund Conyga




(CIC: 131p). At the start of September, chief executive Robert Ware purchased 50,000 shares in his company at 129p each to take his holding up to 3.55m shares, or 4 per cent of the issued share capital. Mr Ware is a property stalwart with 25 years main board experience behind him including executive roles with Development Securities and MEPC.

Not to be outdone, executive director Preston Rabl has also topped up his holding by splashing out £321,000 purchasing a chunky 250,000 shares at a price of 128.5p. Mr Rabl also has a track record, having previously been chairman of activist investment group Laxey Partners. He is currently a director of various private companies and a partner in stockbrokers Henderson Crosthwaite. He now holds 1.15m shares, or 1.29 per cent of the issued share capital. It's not difficult to see why the directors are delving deep to makes these purchases.



Major planning permission consents not in the price

Firstly, after a long consultation period with Pembrokeshire County Council, Conygar was granted planning permission for its development at Haverfordwest, Pembrokeshire. The 93-acre site will incorporate 729 residential properties and a 60,000 sq ft Sainsbury's retail food store with car park and petrol filling station. The application also includes land for a school and public open space. Located near the town centre, the site is in the company's books at £15.24m and accounts for almost half of Conygar's development projects, which are worth a total of £31.1m.

It's therefore worth noting that the company values its development properties at cost, so when Conygar releases its half-year results to end-September in a few months' time, we can expect some guidance on the potential uplift to net asset value. It is likely to be hefty. That's because the company purchased the first 86 acres of land for just £14m in November 2010. Conygar then subsequently acquired a further seven acres on an adjoining site for £300,000, taking the total site to 93 acres. Contracts were then exchanged with Sainsbury's for the sale of nine acres for a supermarket, subject to planning consent. That has now been granted, which is important as the deal with Sainsbury's significantly changed the economics of the project and enables Conygar to bring forward the residential development, having more than covered all the infrastructure and services costs through the net proceeds from the supermarket land deal.

By my reckoning that leaves the residential land currently in the books for less than £19,000 per plot, a bargain basement price considering a 2.3 acre site with residential planning permission in the town centre is currently being marketed for £900,000. Conygar owns 86 acres of residential land. I would not be surprised if the carrying value in the accounts was doubled to £30m to value each plot at nearer £40,000.

It's also significant in terms of the company as Conygar is only valued at £113m, a deep 25 per cent discount to its March 2013 net asset value of £149m. So with 88.8m shares in issue, net asset value per share works out at 167p. In other words, my conservative estimate is that the granting of planning permission at Haverfordwest has added around 17p to book value.

The good news doesn't end there either as Conygar has a further six development projects with an aggregate carrying value of £15.9m. The largest is the Holyhead waterfront development in Anglesey, Wales, which is in the books for £8.7m. Isle of Anglesey County Council has already resolved to grant planning permission to Conygar's joint venture with Stena Line Ports Limited for its mixed-use marina development. The main elements of the scheme include: 324 apartments and townhouses; a 500-berth marina; 43,370 sq ft of marine-related retail, leisure, restaurants, hotel and office space, within a flexible design and in a prime location overlooking the marina. The section 106 planning agreement and conditions are being finalised, so expect an update from Conygar in a few months' time. The company also has some potentially very profitable waterfront developments at Pembroke Dock and Fishguard.

Thanks dc. Have held for several years and the above gives comprehensive view of potential. CIC has a well spread rental income from its investment properties, ample to cover running costs and fairly meagre dividend, with the jam to come from the development portfolio over time. Senior management imo very competent - upset smaller shareholders a couple of years ago with over generous remuneration package, but to be fair did acknowledge this and much improved last year. None of their properties in what you might call prime locations, but should imo reward the patient. Always dyor

Thanks for the info partridge.

CIC:LSE set a new 52-week high during today's trading session when it reached 143.00. Over this period, the share price is up 61.54%.

pushing on.

dc - interesting point about CIC from 2012 annual report is that they have only seven employees, including four exec directors!

Thanks partridge. :-))

Final results tomorrow.

Preliminary Results

http://www.moneyam.com/action/news/showArticle?id=4717310

PARC CYBI TRUCKSTOP JOINT VENTURE

RNS


RNS Number : 7443U

Conygar Investment Company PLC(The)

05 December 2013



THE CONYGAR INVESTMENT COMPANY PLC

PARC CYBI TRUCKSTOP JOINT VENTURE

The Conygar Investment Company PLC (Conygar or the Company), the property investment and development group, is pleased to announce the creation of a joint venture with Mr Fred Done of Betfred through his truck stop subsidiary Road King, to develop and operate a truck stop facility at its site at Parc Cybi, Holyhead, Anglesey.

The joint venture (Road King Holyhead) will occupy the 14 acre site on the development site and create a 200 space truck stop and associated amenities together with ten logistical support units.

Conygar and Road King have each committed £2.5 million to the joint venture in order to fund the construction and start up of the truck stop operations. Work is well advanced on the detailed specification and construction process and it is hoped to be on site by the spring of 2014 with a view to the truck stop being operational by autumn of next year. The joint venture will be fully funded by the partners out of existing cash resources although external funding may be introduced in future as appropriate.

The site will be operated by the Road King management who already own and operate the Hollies truck stop on the M6 outside of Stafford. Road King is owned by the Done family who also own the Betfred betting empire. Holyhead is the country's second busiest freight port and the truck stop will provide a much needed facility which is not currently available. It will also be available as a logistics facility for the construction of the proposed New Wylfa nuclear power station.



Robert Ware, Chief Executive of Conygar, commented: "This is great news for Conygar and we are delighted to be working with Fred and his organisation who have the resources and expertise to make this facility a great success."

Fred Done, Chairman of Betfred, commented: "This development is a further expansion of the Road King brand and concept following the success of the Hollies truck stop, and I am pleased to be working with the Conygar team and believe there will be other development opportunities with them in the future."

Conygar is still too cheap

In IC - Whatever the pace of the UK recovery, Conygar is in pole position to benefit.
Trading at a 21% discount to Oriel's cautious estimate osf book value. Conygar's shares would look cheap even if it weren't for the huge potential of its development projects.

Clarification Re Final Dividend

RNS


RNS Number : 3154V

Conygar Investment Company PLC(The)

11 December 2013








11 December 2013

THE CONYGAR INVESTMENT COMPANY PLC

CLARIFICATION RE FINAL DIVIDEND

Further to the announcement on 3 December 2013 of the preliminary results for the year ended 30 September 2013, the Conygar Investment Company PLC advises that the final dividend of 1.5 pence per ordinary share in respect of the year ended 30 September 2013 will be paid on 13 February 2014 to shareholders on the register on 10 January 2014.

ST of IC has raised his fair value target from 152p to a conservative target of at least 165p.

Completion of Placing

RNS


RNS Number : 9250V

Conygar Investment Company PLC(The)

19 December 2013




NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR THE UNITED STATES OF AMERICA OR TO US PERSONS.

This announcement is an advertisement and not a prospectus. Investors should not subscribe for or purchase any transferable securities referred to in this announcement except on the basis of information in the prospectus to be published by ZDPCo and the Company in due course in connection with the proposed admission of the ZDP Shares to the Official List (by way of a standard listing under Chapter 14 of the Listing Rules of the UK Listing Authority); and to the London Stock Exchange's main market for listed securities.





For immediate release

19 December 2013

THE CONYGAR INVESTMENT COMPANY PLC

COMPLETION OF PLACING

The Board of The Conygar Investment Company PLC ("Conygar" or "Company" or "Group") is pleased to announce that it has successfully conditionally placed 30 million zero dividend preference shares ("ZDP Shares") at 100 pence per share to raise gross proceeds of £30 million ("Placing").

Further details of the Placing are set out in the announcement released by the Company on 16 December 2013. Liberum Capital Limited is acting as financial adviser and sole bookrunner in relation to the Placing.

The Group is currently preparing a prospectus in connection with the issue of the ZDP Shares which will be published in due course following approval by the UK Listing Authority. Admission of the ZDP Shares to a standard listing of the Official List and to trading on the London Stock Exchange's main market for listed securities is expected to take place in mid-January 2014, after publication of the prospectus.

Robert Ware, Chief Executive of Conygar, commented:

"We are very pleased by the strong investor appetite for Conygar's zero dividend preference shares. The gross proceeds of £30 million positions Conygar strongly to take advantage of exciting opportunities within our existing portfolio and across the wider marketplace

This looks much cheaper money than bank borrowing in present climate - testimony to the percived quality of the management. There has always been a lot of potential in their development portfolio and maybe the next year or two will see some of this come to fruition - as a patient, long term holder I hope so, but always dyor.

Two exec directors also bought substantially today (200,000 shares each).

Disposal of Brunswick Point, Leeds

RNS


RNS Number : 7334Z

Conygar Investment Company PLC(The)

11 February 2014






For immediate release

11 February 2014

THE CONYGAR INVESTMENT COMPANY PLC

DISPOSAL OF BRUNSWICK POINT, LEEDS

The Conygar Investment Company PLC ("Conygar" or the "Company"), the property investment and development group, announces that it has completed on the surrender of occupational leases and simultaneous sale of Brunswick Point, Leeds for a combined consideration of £6.6 million, a surplus of £625,000 over the September 2013 valuation.



This 63,000 square foot freehold office building had just over 33,000 square feet vacant and although the rent previously payable by Clydesdale Bank was £390,000 per annum, the Company will save void costs of around £420,000 per annum.



Combined with the recent disposal of the 100,000 square foot vacant industrial unit at Blackpole Trading Estate, Worcester for £2.9 million (marginally ahead of the September 2013 valuation), the overall portfolio vacancy rate has fallen to 11.3% compared with 16.7% at 30 September 2013 and potential void costs of £610,000 per annum are no longer payable.



Robert Ware, Chief Executive of Conygar commented:



"We are pleased to have taken the opportunity presented by an improving market to dispose of two of our more challenging assets thereby significantly reducing our vacancy rate and avoiding annual empty property costs of £610,000. Combined with our other asset management initiatives I would anticipate the vacancy rate to continue to reduce and for irrecoverable costs to fall significantly."

Planning Consent Granted

RNS


RNS Number : 3744A

Conygar Investment Company PLC(The)

19 February 2014






For immediate release

19 February 2014

THE CONYGAR INVESTMENT COMPANY PLC

PLANNING CONSENT GRANTED AT HOLYHEAD WATERFRONT DEVELOPMENT

The Conygar Investment Company PLC ("Conygar"), the property investment and development group, announces that following the completion of the Section 106 planning agreement, the planning consent for the Holyhead Waterfront development has been issued by Isle of Anglesey County Council.

The proposed development, which is a joint venture with Stena Line Ports Limited, consists of the following elements:

· a 500 berth marina;

· 252 waterfront apartments;

· 74 houses;

· an 80 bed hotel;

· 8 waterfront commercial/leisure units (total 4,040 square metres);

· a sail training/youth centre;

· a maritime museum;

· parking and winter boat storage;

· associated landscaping and green space.

Robert Ware, Chief Executive of Conygar commented:

"We are pleased to secure the planning consent and believe that the continued improvement in the housing market will very much benefit our development which in turn will create much needed employment opportunities and attract new businesses to the area both during construction and thereafter."

Slowly but surely they are starting to realise the potential in the development portfolio. Not perhaps the steal they were twelve months ago, but holding on to mine. Always dyor.

Part Disposal of Aker Village, Aberdeen

RNS


RNS Number : 7979D

Conygar Investment Company PLC(The)

02 April 2014






For immediate release

2 April 2014



THE CONYGAR INVESTMENT COMPANY PLC

PART DISPOSAL OF AKER VILLAGE, ABERDEEN

The Conygar Investment Company PLC ("Conygar"), the property investment and development group, announces that it has completed on the sale of Site 1, Aker Village, Aberdeen for a consideration of £8.0 million, a surplus of £540,000 over the September 2013 valuation and a 6.1% uplift after deducting costs of sale.



The site comprises a 64,500 sq ft detached warehouse and 11,500 sq ft two storey long leasehold office building let to Aker Business Services Limited at a rent of £591,212 per annum exclusive.



Robert Ware, Chief Executive of Conygar commented:



"We have a significant commitment to both Aberdeen as a location and Aker as a tenant. We are pleased to be able to take advantage of an improving market to dispose of part of our holding, reducing our exposure to both and crystallising a significant surplus over our book value."

1 May Liberum Capital 204.00 Buy
1 May Oriel... N/A Add

MIDAS SHARE TIPS: Property group Conygar Investment Company has large development projects that should encourage growth and deliver gains for investors

By Joanne Hart, Financial Mail On Sunday

Published: 22:01, 10 May 2014 | Updated: 22:01, 10 May 2014

The Welsh coast is known for its beauty, but many communities along it suffer from economic hardship. Property group Conygar Investment Company has large development projects that should encourage growth there and deliver gains for investors.


Conygar has a profitable investment portfolio, too, which should appreciate in value at the same time as the development projects start to yield results. At 1671⁄2p, the shares have plenty of potential.


The company is run by Robert Ware, 59, a veteran of the market, who has held board positions at a string of property groups, including MEPC, which was sold for £3.5 billion in 2000.





Setting sail: Robert Ware's plans include waterfront flats and a 500-berth marina at Holyhead.



Ware founded Conygar with two former MEPC colleagues, Peter Batchelor and Steven Vaughan, who are still board directors. The trio had built a reputation for clever trading and have continued in that vein at Conygar.


The group has three investment portfolios, worth about £165 million, which mainly comprise offices and industrial sites in the Midlands, the North and Scotland. Two were bought in 2009, in the depths of the financial crisis, one by a hostile takeover, which enabled Conygar to gain the assets at a 42 per cent discount to their value at the time. The third portfolio was bought in 2011, when property prices were still very depressed.


The three generate considerable annual income, comfortably enough to pay a decent dividend and have money left over to upgrade the properties and look for new ones.


Commercial property out of London has not risen in value as much as other market sectors, but this is widely expected to change and Conygar should reap the benefits by raising rents and selling sites. The firm has about £100 million to spend on investment and its history of smart purchases bodes well for shareholders.


The development sites have extremely good prospects, too. Conygar has amassed six – two near Holyhead in North Wales and four in Pembrokeshire, West Wales. These include space for 1,750 homes, three marinas with room for 1,200 boats and more than 350,000 sq ft of commercial space for use as offices, shops and transport facilities.


Obtaining planning permission is notoriously difficult in the UK and Ware has spent years talking to the relevant authorities to allow his developments to go ahead. But he now has broad permission for all six sites and construction is starting this month on a lorry park just outside Holyhead.


The site is being built in a joint venture with Fred Done, the entrepreneur who set up bookmaker Betfred. Lorry parks are desperately needed in Wales as drivers come over from Ireland and there is virtually nowhere for them to rest until they reach England. The site is expected to be operating this year and should generate solid income from firms looking to rent space for drivers.


Conygar has also signed up Sainsbury’s to build a superstore in Haverfordwest, Pembrokeshire. The site has space for more than 700 homes and property becomes much more desirable when it is near a large supermarket. Conygar does not build homes but Ware is hopeful that, as Sainsbury’s starts building, housebuilders will come in and buy his land. There are high hopes for the Holyhead sites, too, which are just a few miles from the Anglesey power station. Japan’s Hitachi has bought the plant and hopes to start work on it in the next few years, so there will be a real need for more local homes.


Demand for the Fishguard sites is also considerable as it is an area of great beauty.


Analysts expect profits of £4.7 million for the year to September, rising to £6.1 million next year and £8 million the year after. A dividend of 1.8p is forecast for this year, rising to 2p in 2015 and 2.3p the following year. Crucially, Conygar holds its Welsh assets in its books at a very low value, so analysts at stock broker Liberum believe they could be worth 55 per cent more than their current value as the sites start to be developed. This should have a big impact on the share price.


Midas verdict: Conygar’s shares has been held back as the company has wrestled with planning authorities and a subdued property market. Now it is on the cusp of change. Buy now and reap the rewards over the next three to five years.


Traded on: AIMTicker: CIC Contact: 020 7258 8670 or conygar.com

Completion of Disposal at Haverfordwest

RNS


RNS Number : 7884G

Conygar Investment Company PLC(The)

12 May 2014






For immediate release

12 May 2014

THE CONYGAR INVESTMENT COMPANY PLC

COMPLETION OF DISPOSAL AT HAVERFORDWEST

The Conygar Investment Company PLC ("Conygar" or the "Company"), the property investment and development group, announces that it has completed the sale of 9.6 acres of land at its development site at Haverfordwest, Pembrokeshire to Sainsbury's Supermarkets Limited for a gross consideration of £13.75 million.

As part of the consideration received from Sainsbury's, Conygar is committed to complete the highways and services infrastructure works to enable both the food store opening and to service the residential development on the remaining 83 acres upon which the Company currently has planning permission to construct 729 houses. These works are anticipated to commence this summer and will cost circa £7.8 million including contributions under the Section 106 agreement.

Sainsbury's planning consent is for a 60,000 square foot retail food store with car park and petrol filling station, whilst Conygar will hold 729 fully serviced residential plots available for development. Conygar acquired the entire 93 acre site during 2010 and 2011 and has spent £15.4 million to date, including the costs of obtaining planning permission. The Company has also completed on the disposal of an existing residential property on the site for £0.6 million.

Robert Ware, Chief Executive of Conygar commented:

"We are pleased to have now satisfied all the various conditions and completed on the sale to Sainsbury's. The sale has provided all the funding required to complete the infrastructure works without resorting to any of our existing cash resources. This will enable us to market the fully serviced 83 acre residential site.

We are continuing to progress our proposed multi use scheme at Ebenezer Row which will link the development to the Town Centre."

Interim Results ended 31st March 2014



Highlights

· Net asset value per share increased by 3.6% to 180.8p from 174.6p at 30 September 2013. EPRA NAV per share increased 2.5% to 179.2p from 174.9p.


· Pre-tax profit for the period £7.46 million compared with a loss of £199,000 in the six months ended 31 March 2013.


· Investment property portfolio valuation up 3.3%in the period on a like-for-like basis, reflecting the strengthening of the regional property market.


· Total cash available for acquisitions in excess of £70 million. Net debt of £32.6 million representing gearing of 20% against net asset value and 20% on loan to value basis.


· Zero dividend preference share issue in period raising £29.3 million after costs. Five year term with a coupon of 5.5% pa.


· In May 2014, completed sale of 9.6 acres of land at Haverfordwest to Sainsbury's Supermarkets Limited for a gross consideration of £13.75 million.


· Disposed of two investment properties in the period for a total of £9.5 million, a surplus of £0.6 million over book value. Following the period end, disposed of three further investment properties taking the total sales in the year to date to £25.7 million, a surplus of £1.9 million over book value.


· £5 million joint venture created with Mr Fred Done, co-founder of Betfred, to develop and operate a 9 acre, 200 space truck stop at Parc Cybi, Anglesey.



· Section 106 planning agreement at Holyhead Waterfront completed. Planning consent now granted.



http://www.moneyam.com/action/news/showArticle?id=4814914

Part Disposal of Aker Village, Aberdeen

RNS


RNS Number : 8491H

Conygar Investment Company PLC(The)

23 May 2014






For immediate release

23 May 2014



THE CONYGAR INVESTMENT COMPANY PLC

PART DISPOSAL OF AKER VILLAGE, ABERDEEN

The Conygar Investment Company PLC ("Conygar"), the property investment and development group, announces that it has completed on the sale of Site 2, Aker Village, Aberdeen for a consideration of £7.45 million, a surplus of £700,000 over the September 2013 valuation and an 8.8% uplift after deducting costs of sale.



The site comprises a 60,000 sq ft detached warehouse let to Aker Business Services Limited at a rent of £570,490 per annum exclusive.



Robert Ware, Chief Executive of Conygar commented:



"Further to our recent sale of Site 1, Aker Village, Aberdeen, we are pleased to have again been able to take advantage of an improving market to dispose of another part of our holding and to have crystallised a significant surplus over our book value."

7 Jul Liberum Capital 200.00 Buy

Acquisition of Industrial Park

RNS


RNS Number : 6638N

Conygar Investment Company PLC(The)

30 July 2014






For immediate release

30 July 2014

THE CONYGAR INVESTMENT COMPANY PLC

ACQUISITION OF INDUSTRIAL PARK

The Conygar Investment Company PLC ("Conygar"), the property investment and development group, announces the acquisition of a multi-let freehold industrial site, Mochdre Commerce Park located at Colwyn Bay, North Wales for a total consideration of £2.75 million including costs. The park comprises approximately 22 acres and 191,000 square feet of modern industrial space and is strategically located adjoining the A55 expressway midway between Holyhead and Chester.

The property is currently part let to 3 tenants with a passing rent of £106,942 per annum which should increase to £166,942 once two lettings currently in advanced negotiation are completed. The remaining 146,000 square feet is currently vacant. The commerce park, which has suffered from under-investment in recent times, offers excellent asset management and development opportunities with which to add significant value. Conygar will look to invest in updating and refurbishing the various vacant units and potentially developing additional units.

Robert Ware, Chief Executive of Conygar commented:

"This acquisition offers excellent opportunities for us to add real value in this strategically important area of North Wales. Our local knowledge and contacts, plus the experience gained from our development at Parc Cybi on the outskirts of Holyhead, will be critical in successfully developing the commerce park. Whilst primarily a development opportunity, the existing rental yield ensures the asset will remain cash positive whilst we refurbish and possibly redevelop other parts of the park."

Interims Tuesday 26 August

Are you sure dc? Year end is 30th Sept and interims to 31st March 2014 released end of May.

Apologies partridge, looks like a money am mistake. Also in the most recent issue of Shares.

Interim Result
21 May 14 Conygar Investment Company (The) PLC [CIC]
26 Aug 14 Conygar Investment Company (The) PLC [CIC]

Thanks dc. Held these for a number of years and patience is gradually being rewarded. Perhaps (wishful thinking) this is a Freudian slip and they release some good news by way of RNS tomorrow!

I read in Shares a few weeks back partridge that their efforts are coming to fruit . Good luck partridge. :-))

13 Oct Liberum Capital 204.00 Buy

Preliminary Results


HIGHLIGHTS



· Net asset value per share increased by 13.1% to 197.5p (2013: 174.6p). EPRA NAV per share increased by 12.0% to 195.9p (2013: 174.9p).



· Pre-tax profit for the year £20.51 million compared with £7.74 million last year.



· Dividend increased by 16.7% to 1.75p per share (2013: 1.5 pence).



· Investment property portfolio valuation up 10.4% on a like for like basis as property market outside of London recovers.



· Total cash of £71 million available for acquisitions. Net debt of £15.6 million representing gearing of 9.2% against net asset value and 9.9% on loan to value basis.



· Zero dividend preference share issue in period raising £29.3 million after costs. Five year term with a coupon of 5.5% per annum.



· Completed sale of 9.6 acres of land at Haverfordwest for £13.75 million, realising a profit of £11.5 million.



· Disposed of five investment properties in the year for a total of £25.7 million, a surplus of £1.6 million over book value.



· Share buy back: the Group acquired 3.5% of its ordinary share capital at a price of 165.5p per share.



· £6 million joint venture created with Mr Fred Done, co-founder of Betfred, to develop and operate a 9 acre, 200 space truck stop at Parc Cybi, Anglesey.






http://www.moneyam.com/action/news/showArticle?id=4935270

Disposal of Norfolk House, Birmingham
RNS
RNS Number : 3214L
Conygar Investment Company PLC(The)
27 April 2015



For immediate release

27 April 2015

THE CONYGAR INVESTMENT COMPANY PLC

DISPOSAL OF NORFOLK HOUSE, BIRMINGHAM

The Conygar Investment Company PLC ("Conygar" or the "Company"), the property investment and development group, announces that it has completed on the sale of Norfolk House, Birmingham for a consideration of £12.3 million, a surplus of £1 million or 8.8% over the September 2014 valuation.



This 115,000 square foot freehold office building had just over 19,000 square feet vacant with 51,000 square feet becoming vacant within six months. The current rental income was £915,000 per annum.



Combined with the recent disposal of the 30,000 square foot vacant office building at Geoffrey House, Maidenhead for £4.76 million, the overall portfolio vacancy rate has fallen to 11.8% compared with 18.2% at 30 September 2014.



Robert Ware, Chief Executive of Conygar commented:



"We are pleased to have disposed of Norfolk House at a decent premium whilst also significantly reducing our vacancy rate and associated empty property costs."

27 Apr Liberum Capital 203.00 Buy

Acquisition of Development Site at Cross Hands
RNS
RNS Number : 1165B
Conygar Investment Company PLC(The)
02 October 2015



For immediate release

2 October 2015

THE CONYGAR INVESTMENT COMPANY PLC

ACQUISITION OF DEVELOPMENT SITE AT CROSS HANDS, CARMARTHENSHIRE

The Conygar Investment Company PLC ("Conygar" or the "Company"), the property investment development group, announces that it has acquired from Sainsbury's Supermarkets Limited a 9.96 acre freehold serviced development site at Cross Hands, South Wales, which has the benefit of a detailed planning consent for a 90,792 gross sq. ft. food store with a 6 pump Petrol Filling Station and 495 car parking spaces.

The site is located in a prominent location with frontage to the A48 (M) - the continuation of the M4 motorway some 16 miles west of Swansea and forms part of a wider comprehensive re-development area of approximately 50 acres which includes a residential development of 240 new homes.

Robert Ware, CEO of Conygar commented:

"We are well aware of the constraints and the time it takes in the current planning framework in order to gain consents of this size and then to put in place all the necessary enabling infrastructure so to acquire as it were an "oven ready" development site is we believe an attractive proposition.

We have already identified occupier demand for a mixed retail scheme which we will now pursue and work towards submitting a revised planning application as soon as possible."

Jumped in today. :-))



ST of IC - The bottom line is that Conygar's shares look seriously undervalued even before factoring in likely positive news from Haverfordwest in the coming months, and the potential for value accretive acquisitions to be made by deploying that bumper cash pile. On a bid-offer spread of 136p to 140p, I rate Conygar shares a value buy and have an initial target price of 180p.

Detailed Planning Consent Granted for Cross Hands

RNS


RNS Number : 7067H

Conygar Investment Company PLC(The)

19 August 2016




19 August 2016

THE CONYGAR INVESTMENT COMPANY PLC

DETAILED PLANNING CONSENT GRANTED FOR CROSS HANDS RETAIL PARK

The Conygar Investment Company PLC ("Conygar") is pleased to announce that it has been granted detailed planning permission by Carmarthenshire County Council for its 9.96 acre development site in Cross Hands, South West Wales.

The fully serviced site was acquired from Sainsbury's in October 2015, with consent for a 90,000 sq ft store and the revised application was submitted in April 2016.

The granted planning consent is for a 106,000 sq ft retail development which will include a mixture of convenience and comparison goods outlets, together with a 562 space car park, 3 food outlets/restaurants and a public house.

The planned development will create the equivalent of 260 full time jobs and over 100 during the construction phase, which Conygar wish to be sourced locally.

Now that consent has been received, construction should commence later in the year and will be funded from Conygar's existing cash resources.

Robert Ware, CEO said: "We are pleased that the plans to develop this retail park have been approved and we will work hard to ensure that construction begins as soon as possible and we can bring the project to fruition. We expect that the development will support and benefit Cross Hands, by creating jobs during the construction phase and also further employment opportunities through the attractive new retail outlets that will be created".

Share Capital Reduction Effective

RNS


RNS Number : 6225I

Conygar Investment Company PLC(The)

01 September 2016






1 September 2016

THE CONYGAR INVESTMENT COMPANY PLC

Share Capital Reduction Effective

The Conygar Investment Company PLC ("Conygar"), the property investment and development group, announces that further to its announcement on 29 July 2016, the High Court of England and Wales sanctioned the Company's application to cancel and extinguish the Company's share premium account on 31 August 2016.

The order of the High Court confirming Conygar's cancellation of its share premium account (the "Capital Reduction") and the statement of capital approved by the High Court in connection therewith were registered by the Registrar of Companies on 31 August 2016, whereupon the Capital Reduction became effective.

The Company confirms that, following the Capital Reduction, the total number of ordinary shares of 5 pence each of Conygar remains unchanged at 77,231,435 shares (excluding 22,482,688 shares held as treasury shares).

Share Buyback Programme
RNS
RNS Number : 4021L
Conygar Investment Company PLC(The)
03 October 2016
 
 
3 October 2016
THE CONYGAR INVESTMENT COMPANY PLC
Potential transactions in own shares during close period
The Conygar Investment Company PLC ("Conygar"), the property investment and development group, announces that the Company has entered into a close period ahead of the notification of its annual results for the twelve months ended 30 September 2016 (the "Close Period"), which is expected to be on or after 12 December 2016.
Pursuant to the share buyback authority approved by shareholders on 29 July 2016, the Company has appointed Liberum Capital Limited ("Liberum") to manage an irrevocable share buyback programme to repurchase on its behalf, and within certain pre-set parameters, ordinary shares in the Company, which will be held as treasury shares, during the Close Period.
The Company and its directors have no power to invoke any changes to the above programme and they will be conducted at the sole discretion of Liberum.

2016 preliminary results

Acquisition of Nottingham development site
RNS
RNS Number : 6337S
Conygar Investment Company PLC(The)
22 December 2016
 
 
 
 22 December 2016
THE CONYGAR INVESTMENT COMPANY PLC
ACQUISITION OF 40 ACRE DEVELOPMENT SITE NEAR NOTTINGHAM STATION
The Conygar Investment Company PLC ("Conygar" or the "Company") announces the purchase of the Nottingham Island site, for £13.5 million including costs.  This former Boots HQ is now a cleared development site of approximately 40 acres located within a short distance of Nottingham train station. The site represents an extremely interesting development opportunity with the potential for a mixture of office, residential and student housing accommodation.  The site has a lapsed planning consent for a mixed-use scheme and the Company will provide a further update once a new planning application has been submitted.
Robert Ware, Chief Executive of Conygar, commented:
"We are delighted to have secured this exciting development opportunity which has not progressed for many years. Working with Nottingham City Council and several identified potential occupiers, we look forward to developing this site as soon as is practical."

Disposal of Investment Property Portfolio
RNS
RNS Number : 6680X
Conygar Investment Company PLC(The)
23 February 2017
 
 
For immediate release
23 February 2017
THE CONYGAR INVESTMENT COMPANY PLC
Proposed Disposal of the Investment Property Portfolio
The Conygar Investment Company PLC ("Conygar" or the "Company"), the property investment and development group, announces that it has entered into a conditional sale agreement for the disposal of its Investment Property Portfolio to Regional Commercial Midco Limited (a wholly owned subsidiary of Regional REIT Limited) (the "Purchaser") for a consideration which attributes a value of £129.8m to the Investment Property Portfolio and represents a modest premium to its valuation of £129.51m as at 30 September 2016 (the "Disposal").
The consideration will be satisfied by the issue of 26,326,644 ordinary shares in Regional REIT at a price of 106.347 pence per share and the assumption by the Purchaser of both the bank debt of the Investment Property Portfolio and Conygar's obligation to fund the repayment of the ZDPs in January 2019 issued by Conygar ZDP plc ("ZDP Co"). The Consideration Shares will represent approximately 8.8% of the enlarged issued share capital of Regional REIT. The consideration will be adjusted following Completion to reflect the net asset value of the SPVs, which own the Investment Property Portfolio, on the Completion Date. The Consideration Shares will provide income which will substantially cover Conygar's ongoing overheads.
The Disposal constitutes a fundamental change of business for the purposes of the AIM Rules.  Accordingly, Completion is conditional on, inter alia, the approval of Shareholders at a general meeting of the Company, notice of which will be posted to Shareholders shortly. The Disposal is also conditional upon ZDP Shareholders sanctioning the transfer of the ZDP Co Ordinary Shares to the Purchaser and the assumption by the Purchaser (whose obligations will be guaranteed by Regional REIT) of the obligations currently owed by the Company to ZDP Co under the terms of the Loan Agreement and the Contribution Agreement.  Notice convening a separate class meeting of the ZDP Shareholders seeking the ZDP Class Consent will also be sent by ZDP Co to the ZDP Shareholders shortly.
Further details of the Disposal, including additional conditions to which it is subject, are set out in the Appendix to this announcement. 
Robert Ware, Chief Executive of Conygar, commented:
"We are pleased to be divesting the Investment Property Portfolio, having added a great deal of value to the portfolio since it was acquired during the years following the financial crisis.  We believe that the team's time will be best spent focusing on maximising the latent value of the development pipeline over the coming years.
We would like to thank the Regional REIT team for their professionalism and hard work throughout the period to date and we look forward to working with them to the completion of this transaction and in the future, as a significant shareholder."

ST of IC today - Conygar acquired 5.3m shares representing 6.4 per cent of its share capital at an average a price of 167.4p per share last financial year, which enhanced net asset value per share by 2.5p. The company has just purchased 500,000 shares at 171p, and with the shares trading well below book value expect further share price supportive purchases too. Run profits.

Share Buy Back Announcement
RNS
RNS Number : 5268A
Conygar Investment Company PLC(The)
27 March 2017
 
 
                                                                                                                                      27 March 2017
                                                                                                                                                                     
 
The Conygar Investment Company PLC ("Conygar" the "Company")
 
Repurchase of own shares
 
Conygar announces that, in accordance with the terms of the general authority to make market purchases of its own shares granted to it by shareholders of the Company on 7 February 2017, the Company acquired 820,000 ordinary shares of 5 pence each in the capital of the Company ("Shares") on 24 March 2017 at a price of 178 pence per Share. The acquired shares will be held in treasury.
 
In conformity with Disclosure and Transparency Rule 5.6.1A, Conygar advises that, at the date of this announcement, the Company's issued share capital comprises 70,841,435 Shares (excluding 28,872,688 Shares held as treasury shares). Therefore, the Company's total number of Shares with voting rights is 70,841,435.
 
The above figure of 70,841,435 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.