Mapeley
 | |
| Company type | Privately held company |
|---|---|
| Industry | Property |
| Founded | 1999 |
| Defunct | 2023 |
| Fate | Voluntary liquidation |
| Headquarters | , |
Key people | |
| Website | www |
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
[edit]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
[edit]The company had operations organised as follows:
- Outsourcing - contracts with HM Revenue & Customs, Abbey and the Identity and Passport Service
- Direct property investments - individual property portfolios
References
[edit]- ^ "PFI: The STEPS Deal". National Audit Office. May 7, 2004.
- ^ "Revenue sell-off to tax haven firm". BBC. September 23, 2002.
- ^ Abbey timeline - 2000 Archived 2013-09-21 at the Wayback Machine
- ^ "Mapely wins lucrative property contract". Accounting Age. March 8, 2006.
- ^ "Liverpool's HMRC tax office block to be turned into flats by social landlord". Liverpool Echo. May 10, 2013.
- ^ Turner, Sarah (16 June 2005). "Mapeley sets IPO offer price at GBP23 a share". Market Watch.
- ^ "Mapeley announces delisting, shares down 7 pct". Reuters. 19 February 2009.
- ^ "We're still delivering, says Mapeley director". Guernsey Press. March 26, 2008.
- ^ "Formerly targeted Mapeley goes into liquidation". The Royal Gazette. July 25, 2023.