First Day of Dealings on AIM

RNS Number:1780O
All Points North Plc
19 December 2006

For Immediate Release          19 December 2006



                              All Points North plc



                     ("All Points North" or "the Company")



                    First Day of Dealings on the AIM Market



All Points North plc, (AIM:APNO), a property development company operating
principally in the North of England, is pleased to announce the commencement
today of dealings of its shares on the AIM Market of the London Stock Exchange.



All Points North has raised #402,500 (before expenses) through a placing of
1,257,813 ordinary shares of 1p per share ("Ordinary Shares") at a placing price
of 32p per share ("the Placing Price") ("the Placing"). At the Placing Price,
All Points North will have a market capitalisation of #2,366,660.



The Nominated Adviser and Broker to All Points North is Zeus Capital Limited.



Placing Statistics



Placing Price
                                                                             32p

Number of Ordinary Shares in issue prior to the Placing                6,138,000

Number of Ordinary Shares being issued pursuant to the Placing         1,257,813

Number of Ordinary Shares in issue immediately following the Placing   7,395,813

Placing Shares as a percentage of the enlarged issued share capital       17.01%

Net proceeds of the Placing                                             #250,000

Market capitalisation of the Company at the Placing Price following 
Admission                                                             #2,366,660



Commenting on the Placing and Admission, Keith Chadwick, Chairman of All Points
North said:



"Our AIM listing will significantly assist our growth strategy by allowing the
Company to use its AIM listed shares, where appropriate, as partial
consideration for acquisitions and will also raise the Company's profile with
vendors and financiers, thereby enhancing our access to opportunities in the
property sector."



For further information please contact:

All Points North plc             01768 865 959
Keith Chadwick, Chairman
Max Elliott, Managing Director

Zeus Capital                     0161 831 1512
Alex Clarkson








Introduction



All Points North is a property development company operating principally in the
North of England with a board of considerable experience in the sector.



History and Background



The Company was established in March 1993 by Bernard Keith Chadwick and John
Anthony Lyons and initially held one investment property in Blackpool,
Lancashire. At that time Keith and John were the Chief Executive and Property
Development Director of Independent British Hospitals plc, respectively.
Subsequently, Independent British Hospitals plc merged and the resulting holding
company of those merged companies was Independent British Healthcare plc ("IBH
"). IBH was a company which developed and operated private hospitals throughout
the UK and in 1996 it was admitted to trading on AIM with Keith Chadwick as its
Chief Executive.



In October 1998, John Maxwell Elliott, previously the principal architect for
IBH, was appointed Managing Director of the Company. The strategy of the Company
was, and still is, to identify suitable properties to acquire which have the
potential for development, obtaining planning permissions where necessary,
developing the site, letting and either selling immediately or retaining the
property for future sale. Once sites are developed, further borrowing is
generally sought against the assets to enable the Company to acquire additional
sites/properties with a view to the cycle being repeated.



The first significant deal by the Company was in 1998 through the acquisition of
a property in Whitehaven, Cumbria for #460,000. This was converted into two
retail units which were subsequently rented to Carphone Warehouse UK Limited and
another retailer. The property was subsequently sold for #789,000. In June 1999,
the Company purchased an ex-Safeway supermarket for #1 million which was
developed at a cost of approximately #382,000 and sold in 2003 for #2 million.
The profits from these transactions gave the Company a platform to build upon
and acquire additional properties for development.



The net assets of the Company have substantially increased from #35,936 as at 31
March 1996 to #1,940,329 as at 31 March 2006, equivalent to an average
historical compound annual growth rate of approximately 49 per cent.



The Directors believe that using their experience and expertise in the property
sector, All Points North can build a substantial portfolio of properties in the
UK, primarily in the North of England and take advantage of development
opportunities.



Property Portfolio



The Company currently holds 9 properties in the North of England. Robert Pinkus
& Co. have carried out an independent valuation of the property portfolio and
the total portfolio has been valued at #7,845,000 as at 20 October 2006. As at 8
December 2006, the properties in the Company's portfolio together with the
valuations provided by the independent valuers were as follows:



College House, Barrow-in-Furness, Cumbria



College House is a former college near the town centre and was purchased in
September 2001 for #150,625. The building has been partly refurbished at a cost
of approximately #1 million to provide office accommodation. Current tenants
include Morecambe Bay Primary Care Trust, Impact Housing Association Limited and
Ufindus Limited. The current rent roll is approximately #138,000 per annum. A
further #365,000 is budgeted to be spent by the end of 2007. It is expected that
additional income will be subsequently generated following the further spending.
College House is valued at #1,900,000.



45 Highgate, Kendal



45 Highgate was purchased in March 2005 for #1,055,000. It was formerly a
supermarket store. The property comprises approximately 15,320 square feet of
retail space on ground and basement floors with frontage to the main shopping
street in Kendal. The ground floor has been rented at #78,500 per annum,
commencing March 2007. Further development is underway to create three
additional letting units at basement level. 45 Highgate is valued at #1,500,000.



45 Highgate also includes two recently constructed flats located on the first
and second floors of the property. The flats have been valued in total at
#340,000.



Gatesgarth, Keswick



This property comprises a completed development of six two-bedroom luxury
apartments, on ground, first and second floors. The apartments are currently for
sale with a local agent at an asking price of #225,000 each. The development is
valued at #1,350,000.



Botchergate, Carlisle



A former supermarket store purchased for #850,000 on 5 May 2006. Enquiries have
been received from a leisure operator to rent the unit. Botchergate is currently
valued at #830,000.



47-51 Highgate, Kendal



The ground floor currently produces a rental income of #34,000 per annum.
Towards the end of 2007 the Company intends to apply for planning permission to
convert the upper floors into six flats with a view to disposing of the
resulting flats in 2008. Valued at #525,000.



Concorde House, Charnley Road, Blackpool



Concorde House is located in Blackpool only a short distance from Blackpool
Tower. At present the property is leased for commercial use to a furniture
retailer at #30,000 per annum. Valued at #375,000.



Cumbria House, Penrith



Purchased in March 2006 for #162,037, the property is now being converted into
nine serviced office units and a conference room. The units and conference room
are scheduled to be available to rent from December 2006. Valued at #350,000.



98/100 Duke Street, Barrow in Furness



A former bank premises, the ground floor is currently leased as a wine bar and
restaurant at a rental income of #12,000 per annum. The Company intends to apply
for planning permission for six flats on the upper floors, after which it is the
intention to sell the property. Valued at #200,000.



The Kendal Bowman, Highgate, Kendal



The Company's most recent acquisition, this former public house was purchased on
4 October 2006 at auction, for #475,000. The Company anticipates obtaining
planning permission for twelve flats. It is then the intention to sell the
property in the first half of 2007. The property is valued at #475,000.



Market Background



The estimated value of the commercial property market at 30 June 2006 in
aggregate in the UK was #337 billion. (Source: IPD UK quarterly Index) The
Directors believe the UK commercial property market has become increasingly
popular with investors in recent years. Commercial property also gives investors
the ability to diversify their investment portfolios.



Directors



Bernard Keith Chadwick, (aged 65) Chairman



Keith jointly founded Euxton Hall Independent Hospital Limited (which later
became Independent British Hospitals plc) in 1981 with John Lyons. He
subsequently became Chief Executive of Independent British Healthcare plc and
responsible for the overall performance of the company and its strategic
direction.



Whilst Keith was Chief Executive, IBH was admitted to trading on AIM in 1996
with a market capitalisation of approximately #20 million (based on the mid
market price as at 26 June 1996). He subsequently negotiated the sale of IBH to
Community Hospitals Group plc in 1997 which completed in January 1998 and valued
the entire issued share capital of IBH at approximately #30 million.



John Maxwell Elliott, (aged 56) Managing Director



In 1974, Max gained a Diploma in Architecture. He became Architect to Lowther
Estates in Cumbria in 1979 and subsequently co-founded Elliott Manning Limited
which became a subsidiary of Independent British Hospitals plc and was
responsible for the design and project management of more than 20 healthcare
projects.



In 1997, Max became a director and shareholder of Lowther Manelli Properties
Limited which has carried out both residential and retail schemes in Cumbria and
has recently received planning permission for a mixed use scheme in the centre
of Penrith. This project includes approximately 55,000 square feet of food
retail, over 88,000 square feet of non food retail and approximately 200
dwellings.



John Anthony Lyons, (aged 66) Non-Executive Director



John began his career as a Chartered Surveyor in 1964 spending 11 years with
Preston & Bedford in Blackpool, Lancashire where he was responsible for estate
management and sales and lettings of commercial properties. From 1975 to 1982
John ran his own Chartered Surveying practice also in Blackpool.



In 1981, John jointly founded Euxton Hall Independent Hospital Limited (the
company which became Independent British Hospitals plc) with Keith Chadwick and
was appointed Property Development Director, being responsible for the site
identification, design co-ordination and commissioning of over 20 hospitals. In
1994 he became Overseas Director for IBH.



Kevin Philbin, (aged 47) Non-Executive Director



Kevin qualified as a solicitor in 1984 and specialises in corporate and
commercial law. He is a senior partner of Wacks Caller, solicitors based in
Manchester and solicitors to the Company. His directorships of other companies
include Stepquick plc which is quoted on AIM and have included The Premiere
Group plc and The Range Cooker Company plc which were both publicly quoted.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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