Appendix Three Key events for the Mapeley Group

2000

  Mapeley wins the HM Revenue & Customs contract and a similar contract for Abbey National's (now Abbey) UK property.

2001

  STEPS contract signed in March.

2004

  Fortress purchases the shares of Delancey and Soros, and takes control of the Mapeley Group.

  Mapeley begins building its own portfolio of properties (Direct Property Investment).

2005

  Fortress lists Mapeley on the London Stock Exchange, raising £133 million to expand its Direct Property Investment business.

  Mapeley pays dividends of £17 million from group profits.

2006

  Mapeley wins a three-year contract with options to extend, to acquire, fit out and deliver serviced accommodation for 69 offices of the Identity and Passport Service.

  Mapeley raises £197 million from retail investors for its Direct Property Investment business.

  Mapeley pays dividends of £41 million from group profits.

2007

  Revenue from HM Revenue & Customs is now 50 per cent of Mapeley's overall revenue. 23 per cent comes from the Direct Property Investment portfolio, a quarter of which are Government and Local Authority tenants.

  Mapeley pays dividends of £55 million from group profits.

2008

  Mapeley pays dividends of £14 million from group profits.

2009

  Mapeley raises £45 million through the sale of convertible bonds to finance the repayment of a short-term loan, which it is unable to renew due to the collapse of the credit market. Fortress underwrote the sale. It now owns more than 75 per cent of the group.

  Mapeley delists from the London Stock Exchange.