Leeds Group- leading to a capital return

taken from the Hemscott report from top link :-very interesting
Conclusion:

The weakness in the share price this year may be in part due to the move from a full listing to AIM, effective 13.3.02. However, apart from the lower regulatory costs, the switch makes it easier for Leeds to complete its disposal programme without the expense of calling EGMs to secure shareholder approval.

On the basis of the figures used above, the intrinsic value of the shares is 63.4p, coincidentally in line with shareholders’ funds and more than twice the current offer price. Though the disposal process may take some time to complete, and full receipt of the proceeds may take two years in some cases, the underlying asset value and good prospects for the ongoing Leeds Leasing business make this an interesting investment opportunity.