M. P. Evans Group (MPE)

Sector:

Food

Index:

FTSE AIM 50

832.00p
   
  • Change Today:
    -2.00p
  • 52 Week High: 908.00
  • 52 Week Low: 577.50
  • Currency: UK Pounds
  • Shares Issued: 54.70m
  • Volume: 8,949
  • Market Cap: 455.07m
  • RiskGrade: 143
  • Beta: 0.58

MP Evans completes sale of remaining Malaysia land

By Josh White

Date: Friday 15 Oct 2021

LONDON (ShareCast) - (Sharecast News) - MP Evans announced the completion of its disposal of Bertam Estate, comprising 70 hectares of land near Penang Island in Malaysia, for $24m (£17.45m) on Friday.

The AIM-traded firm said the proceeds would support its continuing investment in sustainable Indonesian oil-palm projects.

It said the sale was made to Bertam Properties, a Malaysian property development company in which it owns a 40% shareholding.

Given its long period of ownership, the land qualified for a reduced rate of 10% real property gains tax in Malaysia on the profit from disposal.

The sale agreement, signed in July last year, was conditional, and all conditions had now been met, including Bertam Properties obtaining financing for the transaction.

MP Evans said the total sale consideration was MYR 99.9m, adding that a 10% deposit was received on signing the agreement, with a further 50% now paid on completion.

Of the remaining consideration, 10% would be paid in January 2022, and the balance of 30% in July 2023.

The disposal was in line with the company's strategy to realise its Malaysian assets for investment in new sustainable Indonesian oil-palm projects, the board said in its statement.

Following completion, its sole remaining Malaysian asset was its 40% shareholding in Bertam Properties, which would incorporate the land acquired from the group.

Bertam Properties was expected to add "substantial value" to the 70 hectares purchased.

"Completion of the Bertam Estate sale is an important step forward for the group, and the sale proceeds will support its continuing investment in sustainable Indonesian oil-palm," said chairman Peter Hadsley-Chaplin.

"This welcome, cash-generative, transaction further underlines the board's stated intention to recommend a total dividend of at least 30p per share in respect of 2021."

At 1144 BST, shares in MP Evans Group were down 1.54% at 848.74p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MPE Market Data

Currency UK Pounds
Share Price 832.00p
Change Today -2.00p
% Change -0.24 %
52 Week High 908.00
52 Week Low 577.50
Volume 8,949
Shares Issued 54.70m
Market Cap 455.07m
Beta 0.58
RiskGrade 143

MPE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
43.45% above the market average43.45% above the market average43.45% above the market average43.45% above the market average43.45% above the market average
48.15% above the sector average48.15% above the sector average48.15% above the sector average48.15% above the sector average48.15% above the sector average
Price Trend
64.61% above the market average64.61% above the market average64.61% above the market average64.61% above the market average64.61% above the market average
80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average
Income
52.53% above the market average52.53% above the market average52.53% above the market average52.53% above the market average52.53% above the market average
46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average
Growth
93.86% above the market average93.86% above the market average93.86% above the market average93.86% above the market average93.86% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MPE Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Oct-21 22-Apr-21
Paid 05-Nov-21 18-Jun-21
Amount 10.00p 17.00p

Trades for 30-Nov-2021

Time Volume / Share Price
13:47 496 @ 832.00p
13:47 154 @ 834.00p
13:46 650 @ 834.00p
12:18 1,249 @ 832.00p
11:00 1,454 @ 834.00p

Top of Page