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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Acp Capital | LSE:APL | London | Ordinary Share | GB00B0T9K295 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.375 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAPL RNS Number : 0922S ACP Capital Limited 03 September 2010 3 September 2010 ACP Capital Limited Interim results for the six month period ended 30 June 2010 ACP Capital Limited ("ACP" or the "Company"; AIM: APL) today announces its interim results for the six month period ended 30 June 2010. The group primarily comprises ACP along with its consolidated subsidiary, ACP Mezzanine ("ACPM"), of which ACP owns 54.37 percent of the issued equity (the "Group"). ACP Mezzanine Limited was placed into liquidation on 15 July 2010. ACP's strategy continues to be to sell assets at appropriate prices and return the proceeds to shareholders. Financial highlights for the six months ended 30 June 2010: · The Group's various interests in IFR have been disposed of in the period: - The IFR syndicated loans were sold to Theo Muller Group Sec for GBP50.2 million; - The currency hedge agreement between IFR and ACP was settled for GBP7.6 million; and - The remaining IFR equity was sold for GBP0.2 million. · On 24 March 2010 the Group sold all of its 5.7 million ordinary shares in GCI Management AG ("GCI") for a total consideration of GBP2.2 million (or approximately GBP0.39 per share); · ACP currently has two remaining investments: Leasecom Leasecom is currently performing in line with ACP's expectations. All of consolidated turnover, EBITDA and net profits have significantly increased for the audited financial year 2009 compared to the previous financial year 2008. The company has also been engaged over the last few months in a process to reduce its fixed cost base and continue to improve profitability for the shareholders. For the financial year 2009, ACP Capital has received approximately GBP3 million of dividends from Leasecom. In line with its stated strategy, ACP is engaged in discussions with various parties interested in purchasing its stake in Leasecom. During the period the value of the investment has reduced by GBP1.5 million, due to an adverse exchange movement; Davenham On 30 June 2010, the management of Davenham Group plc (in which the Company has an equity investment of 7.6 million shares that has been valued at nil) announced the result of a strategic review, where it was decided that the business would stop writing new business and go into 'run-off'. In view of this, the Board of Davenham Group plc considers that there is likely to be no value for ordinary shareholders in the Company. · During the period the Group terminated the investment management agreement between ACPM and ACP Investment Management Limited ("ACPIM"), this has resulted in ACPM paying ACPIM a break fee of GBP1.4 million. · During the period the Company has made two capital distributions: - 4.85 pence per share was paid on 5 May 2010; and - 16.76 pence per share was paid on 10 June 2010. · During the period the ACPM has made two capital distributions: - 2.2 eurocents (1.91 pence) per share was paid on 30 April 2010; and - 7.58 eurocents (6.25 pence) per share was paid on 8 June 2010. For further information: · Bruce Garrow of Collins Stewart Europe Limited - Tel +44 (0) 207 523 8350 · www.acpcapital.com This information is provided by RNS The company news service from the London Stock Exchange END IR GMGGLNZLGGZM
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