29th Jan 2008 15:07
Cardiff Property PLC29 January 2008 FOR IMMEDIATE RELEASE THE CARDIFF PROPERTY PUBLIC LIMITED COMPANY ("the Company") INTERIM MANAGEMENT STATEMENT 29 January 2008 The Company makes the following statement under the Financial Services AuthorityDisclosure and Transparency Rules, Section 4.3 - Interim Management Statements. From 29 November 2007, the date of the announcement of the results for the yearended 30 September 2007, to the date of this statement, no material commercialproperty transactions have taken place. During this period the Company, as announced on the 4 December 2007, 11 December2007 and 23 January 2008, purchased a total of 48,900 ordinary shares forcancellation. The total consideration, including costs, was £365,973 which willbe charged directly to retained earnings. The Thames Valley office letting market remains subdued. New office lettingsreported over the last period indicate rental levels have remained unchanged. The group's residential development at Datchet Meadows, Slough is expected tocomplete in June 2008 and a sales and marketing campaign is in preparation. Uncertainty in the financial markets continues to affect confidence in thecommercial and residential property market and, as expected, capital values havefallen. The group, including Campmoss Property Company Limited, our 47.62% jointlycontrolled entity, continues to actively manage its property portfolio andpursue planning applications at Tangley Place, Worplesdon and Market Street,Bracknell, as referred to in the chairman's statement accompanying the annualresults. The group, including Campmoss, has adequate resources to complete the currentdevelopment programme. There have been no significant changes in the financialposition of the Company since the publication of the results for the year ending30 September 2007. The final dividend of 8.25 pence per share in respect of the year ended 30September 2007, will be paid to shareholders on 7 February 2008. J Richard WollenbergChairman This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Cardiff Property