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Welcome to Public Service Properties Investments Limited

Public Service Properties Investments Limited (“PSPI” or the "Company"), formerly a specialist real estate investment and financing company is organised under the laws of the British Virgin Islands. Its shares are traded on the AIM market of the London Stock Exchange.

On 7 July 2016 the Company announced that, as a result of the sale of its remaining properties which was announced on 10 March 2016 and completed on 22 April 2016, and which constituted a fundamental change of business pursuant to Rule 15 and Note 5.6 for Investing Companies of the AIM Rules for Companies, the Company has 12 months from that date to implement its investing policy, failing which trading in the Company’s shares on AIM will be suspended.

Following the sale and the subsequent compulsory partial redemption, a significant majority of the Company’s remaining assets comprised cash of approximately £1.5 million which, after deducting net current liabilities of £0.3 million, is equivalent to an unaudited net asset value (“NAV”) of approximately £1.2 million, which the Board proposes to return to shareholders in due course. A significant majority of the Company’s cash is in sterling; hence, the Company does not expect to incur any significant impact from the movement in foreign exchange rates, most notably between sterling and the Euro.

The unaudited NAV assumes that there are no claims made against the warranties included in sale transaction documentation relating to the disposal of the Company’s assets and businesses during the last two years and that there will be no significant unidentified costs between now and the final return of capital to shareholders.

The Company's share capital now comprises 227,655 ordinary shares of $0.01 each in issue and admitted to trading on AIM under the new ISIN VGG729641511.

While the Company expects that it will be able to complete a final return of capital before the end of the first quarter of 2017, it is exploring ways in which it can accelerate this process.

 
Holding in Company
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Holdings in company
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Further update
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Update on the Compulsory Partial Redemption of...
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Public Service Properties Investments