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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Principle Cap. | LSE:PCX | London | Ordinary Share | LU0203938583 | ORD �1 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPCX RNS Number : 8255K Principle Capital Holdings S.A. 27 April 2010 Principle Capital Holdings S.A. ("Principle Capital", the "Company" or the "Group") Trading Update Principle Capital, the asset management and fund and trust administration group, today provides a trading update in advance of its results for the year ended 31 December 2009 which are expected to be issued in June 2010. Turnover and profit before tax for the year ended 31 December 2009 are expected to be below the GBP11.2 million and GBP1.89 million achieved respectively for the year ended 31 December 2008, partly as a reduction in performance fees payable and partly due to an increase in operating expenses. The Company will be reviewing its net assets including goodwill as part of the normal audit process. During the year the Group's holding in South African Property Opportunities plc was sold and Principle Capital Investment Trust plc was taken private at the end of 2009. Accordingly the Group now no longer holds any listed investments. Fee earning assets under management at the year end were approximately $1.17 billion (allowing for certain cross holdings between the funds) (31 December 2008: $1.12 billion). Trading since 31 December 2009 has been satisfactory. The management contract with South African Property Opportunities plc ("SAPRO") will end in October 2010 and the Group has been taking action to reduce its overhead to minimise the impact of the lost revenue from this contract. Shareholders will also be aware that the Group's 52% owned subsidiary, Proteus Property Partners Limited, has lodged a claim against SAPRO in respect of a performance fee due to it of GBP5,101,304. SAPRO has claimed that this fee is not due. Proteus has commenced proceedings against SAPRO and will pursue this claim vigorously. The Group will comment in more detail on trading when the annual results for the year ended 31 December 2009 are announced in June 2010. For information, please contact: +-------------------------+--------------------+ | Pelham Bell Pottinger | +44 (0)7812 345 | | Olly Scott | 205 | +-------------------------+--------------------+ | Principle Capital | +44 (0)20 7240 | | Jonathan Sieff | 3222 | +-------------------------+--------------------+ | Singer Capital Markets | +44 (0)20 3205 | | Jeff Keating | 7500 | +-------------------------+--------------------+ This information is provided by RNS The company news service from the London Stock Exchange END TSTLFFSVSTIRFII
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