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Conygar Investment

February 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CIC
  • Price:
  • 131.5p
Conygar’s results (NAV per share: 208.9p, £17.4m net cash) were overshadowed by it securing a new  facility of up to £47.5m with Barclays to enable the completion of the construction, targeted by the summer of 2024 and subsequent letting of the 693-bed student accommodation development at The Island Quarter site in Nottingham. The maximum term is 3 years including 27 months for the development facility with interest  initially at Sonia  plus 3.25% for the development phase. The Company is also raising £30m through the issue of five-year zero dividend preference shares expected to have a gross redemption yield equivalent to 7.5 per cent with net proceeds to further the development of The Island Quarter site and also for other exist ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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