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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Basepoint | LSE:BNT | London | Ordinary Share | GB0007381295 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 14.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0484P Basepoint PLC 20 July 2005 Basepoint PLC 20th July 2005 Basepoint plc 2005 Annual General Meeting Chairman's Statement Basepoint plc's Chairman, The Viscount Lifford, made the following statement at the Company's Annual General Meeting, held at Winchester Guildhall at 11 am on Wednesday 20th July 2005: "The 2005 Annual Report was recently distributed to shareholders and contains detailed information on the state of the company's affairs for the financial year to the end of February and the subsequent period up to the date of that Report, the 26th of May. In my statement accompanying the Annual Report I was pleased to confirm that we had achieved good performance against our strategic objectives. Those objectives are to maximize the potential from our wholly owned MBECs, to build new centres with or without an ownership interest and to develop an income stream from development project and operational management activities. I also reported that our core portfolio of MBECs had enjoyed outstanding occupancy during the last financial year. I can now report that, although we have experienced an increased level of tenant turnover in recent weeks, the occupancy statistics remain strong. I am also pleased to record that occupancy in the more recently opened immature centres which we manage for others has shown improvement over the same period. In March we were appointed by Kent County Council to act as the manager of its centre in Northfleet. This contract has started well and is now generating an additional income stream to the Company. We are close to finalising two similar contracts with other public bodies and I anticipate that we shall shortly be in a position to make a formal announcement regarding these appointments. We are continuing to work on development contracts for new SEEDA centres in Hastings and Newhaven under our project management agreement. Regrettably, the start on the scheme at Newhaven has been put back by SEEDA which will defer our recognition of income from that project. New Basepoint MBEC developments are underway at Tewkesbury and, as a second phase, at our successful High Wycombe centre; once complete these will expand our portfolio of wholly owned centres. The geographical move towards Tewkesbury forms part of our expansion strategy as we seek potentially successful areas with more reasonable land prices. This strategy has been further developed following a successful competitive bid to develop a Basepoint type centre on an Advantage West Midlands (AWM) regeneration site in Bromsgrove, Worcestershire, where development activities are scheduled to commence in the autumn. This will add to our portfolio of centres when it comes on stream but may also lead to other development and management activity with AWM which is seeking to develop a number of similar schemes in its region. Progress within the Company is therefore sound and although profits in the 2005 year were reduced over those for 2004, for the reasons explained in the Annual Report, we nevertheless have the confidence in the business going forward to recommend a final dividend increased by 11% over last year. In summary I believe that we are moving ahead satisfactorily with our strategy on all fronts and I am confident that prospects for the medium and longer term remain highly positive and that your company will then be well positioned to build on the solid ground work now underway." Contacts: Robert Cleaver - Basepoint Plc, Chief Executive (robcleaver@basepoint.co.uk ) David Boakes - Basepoint plc, Director of Finance (davidboakes@basepoint.co.uk) Nicola Horton - Smith & Williamson Corporate Finance Limited (nicola.horton@smith.williamson.co.uk) This information is provided by RNS The company news service from the London Stock Exchange END AGMBXGDRXGBGGUC
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