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.