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Prices & Quotes - UK Markets - Capital & Counties Properties (CAPC)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 180.40p
Change Today:
-0.100p
Market Cap:
1,535.42m
Sector:
Real Estate Investment Trusts

Capco pays down debt with 105m deferred Earls Court consideration

By Josh White

Date: Monday 30 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Capital & Counties confirmed on Monday that it has received 105m of deferred cash consideration from the sale of Earls Court.
The FTSE 250 company said the amount was a scheduled payment following the sale announced in November 2019, with the final payment of 15m is due to be received in November 2021.

It said the receipt further enhanced its financial flexibility and liquidity, with the proceeds to be used to reduce borrowings under the Covent Garden revolving credit facility.

"Based on Capco's net debt and the independent valuation of its property portfolio as at 30 June, and taking into account the proceeds of the sale of the Wellington Block of 76.5m, payments in respect of Shaftesbury shares acquired in August and November of 153m in total, and the proceeds of the exchangeable bond issue announced on 19 November of 275m, on a proforma basis Capco's net debt would be approximately 700m, representing a net debt-to-gross assets ratio of 25%," the board said, reducing from 26% at the end of June.

"On the same basis, net debt for Covent Garden would be approximately 475m, and the loan-to-value ratio would be 23%," which was a reduction from 36% on 30 June.

At 0829 GMT, shares in Capital & Counties Properties were down 1.03% at 134.6p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

CAPC Market Data

Currency UK Pounds
Price 180.40p
Change Today -0.100p
52 Week High 191.70p
52 Week Low 99.00p
Volume 1,070,669
Shares Issued 851.12m
Market Cap 1,535.42m
Beta 0.02

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 2
Sell 2
Strong Sell 4
Total 13
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CAPC Dividends

  Latest Previous
  Final Interim
Ex-Div 16-Apr-20 29-Aug-19
Paid 14-May-20 20-Sep-19
Amount 1.00p 0.50p

Trades for 16-Apr-2021

Time Volume / Share Price
16:45 160 @ 179.90p
16:45 160 @ 179.90p
16:35 576,141 @ 180.40p
16:29 32 @ 179.80p
16:29 1,600 @ 179.80p

CAPC Key Personnel

CEO Ian Hawksworth
Chair Henry Staunton
CFO Situl Jobanputra