logo-loader
RNS
viewCircle Property PLC

Annual General Meeting

/**/ sup{font-size:80%} .o{size:612.0pt 792.0pt;margin:72.0pt 72.0pt 72.0pt 72.0pt;}div.o{}p.a,li.a,div.a{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";}p.ag{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; text-align: center}p.ah{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";text-align: center}p.ai{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0cm;margin-right:0cm;margin-bottom:6.0pt; margin-left:0cm;text-align:justify}span.aj{font-size:11.0pt;font-family:"Calibri","sans-serif"}span.ak{font-family: "Calibri","sans-serif"; font-size: 11.0pt; font-div: italic}p.al{margin-right:0cm;margin-left:0cm;font-size:11.0pt;font-family:"Calibri","sans-serif";text-align:justify}span.am{font-div: italic} p.d,li.d,div.d{margin-right:0cm;margin-left:0cm;font-size:11.0pt;font-family:"Calibri","sans-serif";}span.x{color:black}table.an{margin-left:-10.8pt;border-collapse:collapse}td.v{width:302.7pt;padding:0cm 5.4pt 0cm 5.4pt}p.ao{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; margin-bottom: 0cm; text-align: justify}td.t{width:115.95pt;padding:0cm 5.4pt 0cm 5.4pt}p.ap{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify}p.aq{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify}span.ar{color: black; font-family: "Calibri","sans-serif"; font-size: 11.0pt; font-weight: bold}p.as{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify} span.at{color: black; font-family: "Calibri","sans-serif"; font-size: 11.0pt; font-div: italic}span.au{font-div: italic}span.p{font-size:9.0pt;font-family:"Calibri","sans-serif";color:black}p.av{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify} /**/
RNS Number : 5462J
Circle Property PLC
20 August 2019
 

20 August 2019

 

Circle Property Plc

("Circle" or the "Company")

Annual General Meeting

At the Annual General Meeting being held today at 2.30pm at 3rd Floor, Standard Bank House, 47-49 La Motte Street, St Helier, Jersey JE2 4SZ, the Chief Executive Officer of Circle Property Plc, John Arnold, will give the following statement:

"We are delighted to confirm that our focus on regional office assets is continuing to deliver further growth for the business and 2018 marked the third successive year of delivering average Net Asset Value ("NAV") growth in excess of 20% per annum, alongside a 12% increase in contracted rental income and a proposed full year dividend up 12.5% to 6.3p for 2018. 

As we have stated in the past, we continue to explore a number of opportunities to ensure that the Company's continued strong underlying performance continues to be recognised and delivers superior returns for shareholders. We look forward to updating shareholders in due course."

 

Circle Property Plc              

 +44 (0)207 930 8503

John Arnold, CEO

Edward Olins, COO

 

 

 

Cenkos Securities

+44 (0) 207 397 8900

Azhic Basirov

Katy Birkin 

  

 

 

Radnor Capital

+44 (0) 203 897 1830

Joshua Cryer

Iain Daly

 

 

 

Camarco

+44 (0) 203 757 4980

Ginny Pulbrook

Tom Huddart

 

 

About Circle Property Plc

Circle is the best performing quoted UK real estate company by NAV total return (NAV growth and dividend)1 having delivered consistent returns with 86% NAV growth since IPO in 2016 in absolute terms.

Circle focusses on acquiring assets in regional cities, many of which have significant office supply constraints, and on office assets with active management potential (refurbishment opportunities, under-rented or vacant properties or short leases), rather than just maximising initial rental yields.

Circle is not a Real Estate Investment Trust (REIT) and can actively recycle proceeds from asset sales into its refurbishment and redevelopment pipeline, as well as future investment opportunities, therefore targeting a broader range of returns for shareholders, which are primarily driven by NAV growth.

As well as already delivering substantial increases in NAV, the Company's portfolio has significant reversionary potential with total estimated rental values of £10.34m per annum, compared to contracted rent of £7.61m at 31 March 2019. The Company has a portfolio of 16 regional commercial property investment and development assets in the UK valued at £139.2m.

1 Source: Radnor Capital research, 31 March 2019

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
AGMCKCDBABKDDFD

Quick facts: Circle Property PLC

Price: 194

Market: LSE
Market Cap: £55.39 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

'The future is in provincial offices' - Circle Property CEO John Arnold

John Arnold, chief executive of Circle Property PLC (LON:CRC) tells Proactive's Andrew Scott the provincial commercial property specialist enjoyed another successful year, with net asset value (NAV) per share rising 25%. The NAV per share at the end of March – the end of Circle's fiscal...

on 2/7/18