Circle Property is winding down and returning cash to shareholders.
The initial payments by the way of issue and redemption of B shares are £1.58 now and 0.51 pence. and end of March
Depending on your view of the value of one remaining property at 300 Pavilion Drive that would mean after the fall to-day to reflect the £1.58- current price is 75p and deducting the £0.51 the remaining property is in at 0.24p or approximately £7.0m.
I bought as an arbitrage deal- return looks like 5-10%( depending on. the sale price achieved for the remaining property. )
Not sure whether to cash in now or wait ! The risk is a poor sale price achieved for 300 Pavilion drive.
