Port Bouvard announces 30% increase for investors

Port Bouvard has announced it expects an increased return to shareholders on better prices than previously expected for the final sale of land at its two estates in Mandurah as well as its intention to avoid being wound up.
The company now expects a final return of between $1.95 and $2.15, which is an approximate 30 per cent increase on the previous forecast.
The news came as the Australian Stock Exchange queried Port Bouvard's directors over an increase in its share price from $1.77 on November 4 to $1.92 yesterday.
Also in the announcement was the revelation that "it is not the present intention of the directors for the company to be wound up", as previously advised to the market.
"Rather the board will seek further opportunities for the company as they consider there to be significant inherent value in the ASX-listed company together with the sound management systems, expertise and goodwill generated from the successful development of Port Bouvard and Princeton residential estates," said Port Bouvard company secretary Niels Kroyer in a letter to the ASX.


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