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Albany Capital
- BY: Andrew Hore |
- POSTED: 24/01/2008 |
- COMMENTS: Add yours
Investment company Albany Capital moved into profit last year.
A loss of £242,000 was turned into a profit of £42,000 in the year to September 2007. Albany completed the sale of its old portfolio of life sciences investments during the first half. Its main investments are now displays manufacturer Densitron, mobile phone manufacturer ZTC Communications, airline outsourced services provider Watermark, broker Blue Oar, cash shell Ninety and food supplier China Food Company.
JO Hambro director Christopher Mills has just been appointed as a director.
Albany is issuing £6m of convertible unsecured loan notes 2011 to Westminster Enterprises convertible at 2.85p a share.
The company plans to consolidate 25 shares into one new share. The shares fell 0.1p to 1.9p, which values the company at £15m. The NAV is £16.2m - after minority interests. Since the year end Albany has made an unrealised gain of £2.81m on its China Food Company investment.
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