16:33 Fri 27 Aug 2021
Inland ZDP PLC - ZDP Share accrued value, asset cover and return
Inland ZDP PLC
ZDP Share Accrued Value and Asset Cover
As at
The Cover Ratio as at
Cover Ratio (Assets / Financial Indebtedness) 2.2 times
Capital Entitlement, Assets, Financial Indebtedness and Cover Ratio have been determined as set out in the Circular to ZDP Shareholders published by Inland ZDP PLC on
As at
The book value of the pledged assets is required to be more than 120% of the aggregate accrued amount due to ZDP Shareholders net of any pledged cash.
The book values used for the cover ratio and security covenant are based on historical cost less any impairment provisions. In practice, as work through the planning process progresses, the open market value of the sites increases above the book value. The uplift is measured on an EPRA basis in the annual and half year accounts, but has not been calculated as at 30 June.
ZDP Share statistics
ZDP Share price as at
Annual rate or return to maturity: 7.17%
Hurdle rate to recover ZDP Share price -26.6% per annum
Hurdle rate to Final Capital Entitlement -24.1% per annum
These hurdle rates are based on the book values in the Inland Homes PLC unaudited management accounts as at
Enquiries:
Inland ZDP PLC
Nishith Malde FCA Tel: 01494 762450
Egremont Capital Ltd
David Floyd Tel: 01722 781142
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