Mapeley Explained

Mapeley Limited
Type:Privately held company
Industry:Property
Fate:Voluntary liquidation
Location City:Guernsey
Location Country:United Kingdom Overseas Territories

Mapeley Limited was a Guernsey-based outsourcing and property investment business. It was previously listed on the London Stock Exchange and constituent of the FTSE 250 Index.

History

The company was founded in 1999. In 2001, it entered into an outsourcing contract with HM Revenue & Customs taking over 600 buildings and leasing them back to Inland Revenue under a private finance initiative (PFI) deal.[1] [2]

In 2000 it purchased a portfolio of properties from Abbey and then leased them back again to Abbey.[3] Then in 2006 it secured a major outsourcing contract from the Identity and Passport Service.[4] [5]

The company was listed on the London Stock Exchange in 2005,[6] before being delisted in 2009 after facing significant headwinds and poor share price performance.[7] [8]

In 2023, the company was put into voluntary liquidation and FTI took charge as liquidators.[9]

Operations

The company had operations organised as follows:

Notes and References

  1. Web site: PFI: The STEPS Deal . May 7, 2004 . National Audit Office .
  2. News: Revenue sell-off to tax haven firm . September 23, 2002 . BBC .
  3. http://www.aboutsantander.co.uk/investors/results-and-presentations/santander-uk-plc/2000.aspx Abbey timeline - 2000
  4. News: Mapely wins lucrative property contract . March 8, 2006 . Accounting Age . July 30, 2012 . June 22, 2008 . https://archive.today/20120730213209/http://www.accountancyage.com/accountancyage/news/2151530/mapely-wins-lucrative- . bot: unknown .
  5. News: Liverpool’s HMRC tax office block to be turned into flats by social landlord . May 10, 2013 . Liverpool Echo .
  6. Web site: Turner . Sarah . 16 June 2005 . Mapeley sets IPO offer price at GBP23 a share . Market Watch .
  7. Web site: Reuters . 19 February 2009 . Mapeley announces delisting, shares down 7 pct .
  8. News: We're still delivering, says Mapeley director . March 26, 2008 . Guernsey Press .
  9. News: Formerly targeted Mapeley goes into liquidation . July 25, 2023 . The Royal Gazette .