31st Mar 2014 11:30
LONDON (Alliance News) - South African Property Opportunities PLC Monday said it will return 9 pence a share to shareholders after selling its Sandton assets in Johannesburg.
In a statement, the South African real estate investor, which has a strategy of selling assets in an orderly fashion in order to make returns to shareholders, said its net asset value per share fell to 49 pence from 69 pence primarily as a result of the capital return.
The company was reporting its first-half results, which showed a GBP6.9 million pretax loss for the six months to the end of 2013. For the corresponding period in 2012, the company reported a GBP4.6 million pretax loss.
The company's shares were Monday quoted at 40.00 pence, down 2.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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