Simon Thompson 

Conygar plans for shareholder value creation

Simon Thompson

Simon Thompson

Aim-traded property vulture fund Conygar (CIC:140p) has delivered a flat second half net asset value (NAV) per share performance, following an a £18.5m hit in the first half of the year on the carrying value of its site at Haverfordwest to reflect weaker demand from major housebuilders for its land parcels and from potential home owners, too. Construction of the first phase of 115 homes will commence at the start of 2020 and the site now only accounts for 7 per cent of Conygar’s NAV of £100m (178p a share) at the 30 September 2019 financial year-end.

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