News blog
Toye
- BY: Andrew Hore |
- POSTED: 11/08/2011 |
Noble Investments boss Ian Goldbart has increased his stake in medals and trophies supplier Toye & Co from 4% to 5.13%.
This has helped to push up the Toye share price up to 51p, which values the company at £1.15m. The share price was 27p when Goldbart’s stake went above 3% during May.
Toye’s net asset value was £1.66m at the end of 2010.
Toye owns freehold and long leasehold property whose deemed cost is based on a 1997 revaluation. The base value of the freehold land is £1.17m, or £928,000 after depreciation. The long leasehold property has a base valuation of £1.18m and is valued at £914,000 after depreciation. Management believes that the underlying value of the property is £850,000 higher than book value.
That suggests an underlying NAV of £2.5m.
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