Almacantar

(36.29% of share capital through EXOR S.A.)

 

 

 

In the first quarter of 2012, Almacantar signed a preliminary £110 million agreement for the purchase of CAA House. The property is located in the center of London and leased by a British government agency. The purchase will be finalized at the end of the third quarter of 2012. By adding CAA House, Almacantar now has three properties in the West End of London.

The consolidated data of the Almacantar Group for the first quarter of 2012 are as follows:

£ million QI 2012 Year 2011
Net rental revenues 3.1 6.9
Profit (loss) for the period 0.5 (4.3)
 
£ million 31/03/2012 31/12/2011
Net assets 269.4 268.9
Net financial position (31.4) (20.6)

The data relating to the previous period are not reported since the company became fully operational in the first half of 2011.

In the first quarter of 2012, Almacantar reported a profit of £0.5 million. The amount of net assets of the Almacantar Group rose from £268.9 million at December 31, 2011 to £269.4 million at March 31, 2012.

At March 31, 2012, the share capital of the company amounted to £275.75 million, of which £110.8 million was still payable by the shareholders.

The net financial position was a negative £31.4 million (a negative £20.6 million at December 31, 2011) and consisted of bank debt for £88.2 million net of cash for £56.8 million. The negative increase of £10.8 million was principally due to the deposit made for the acquisition of CAA House.

In 2012, the company will focus its attention on the above initiatives while continuing to evaluate possible new investment opportunities.

In 2012, besides the purchase of CAA House, Almacantar will continue to pursue its strategy of increasing the value of existing investments, also by applying for a building permit for the residential development of Centre Point.

Commercial Register No.64236277 Legal notes | Credits