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/

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.