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Chagala 2018 Interims. Realty Invest Offer Closes 28 September.

Chagala’s interims announced on 18 September 2018 have followed hard on the heels of its delayed 2017 full year accounts published in July. Revenue, profit and asset value have all decreased, partly as a consequence of adverse currency movement. Increasing competition in Atyrau, the main area of operation of Chagala, is also apparent. However, the Offer of $2.15 per share from Realty Invest Holding LLP (“Realty Invest”) remains the focus of attention with the final day for acceptances being 28 September 2018 (shareholders with 63.6% have already accepted, 27.8% have irrevocably not accepted, leaving 8.6% to respond). No further dividends have been declared since the last one for USc2.5 per share in August.

 

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