Property investors’ ‘substantial’ growth

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p.

The company has invested primarily in the Irish property market but at the end of last year invested £4 million in AIM-listed cash shell China Real Estate Opportunities.

This year the company paid its first shareholder dividend since 2002 and is proposing a final dividend of 1.

p per share.

The company has recovered performance since it lost an estimated £165 million in 2002 from split capital investments, but will continue to seek compensation and has served proceedings on former managers Aberdeen Asset Management in Jersey and the UK and UBS Ltd.

A trial date has been set for May 2007.

Chairman Ray Horney said the group now had one of the largest property portfolios in the Irish market, having sold off its UK portfolio this year, with cash available for investment.

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