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/

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.