Asset Plus (NZX: APL) has announced a reduction in overall portfolio valuation of $13 million as at 31 March 2023, following the re-evaluation of the 6-8 Munroe Lane, Albany property.
The company has also entered into a conditional sale and purchase agreement to sell 22 Stoddard Road at a sale price of $36.75 million, with completion expected in April 2023.
This is expected to reduce Net Tangible Assets (NTA) by 3.6 cents per share and gearing to 25%.
The updated financial results for the 2023 financial year are expected to be released on 29 May 2023.
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