Craven House Capital PLC Update on Brazilian Land Investments (2696G)

TIDMCRV

RNS Number : 2696G

Craven House Capital PLC

25 May 2017

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Craven House Capital plc

("Craven House" or the "Company")

Update on Brazilian Land Investments

The Company today reports that it has received updated valuations from Oeste Bahia Imóveis and Celso Frederico de Melo Pessanha, being independent expert third-party valuers, on two of its investments in Bahia, Brazil.

Via its subsidiaries, the Company owns a minority stake in a 1,973 hectare land holding in Caravelas, situated in the state of Bahia, Brazil. The land benefits from circa two kilometres of beachfront facing the South Atlantic ocean and was acquired in September 2012. This asset is held on Craven House's balance sheet at its acquisition value of $1,293,020. The recent professional appraisal values the Company's shareholding in this property at $3,798,600.

The Company, via its subsidiaries, owns a second substantial ocean-front land parcel also in Bahia, Brazil. The land holding is comprised of 500 hectares with c.7.5 kilometres of waterfront. This was acquired for $3,100,000 in December 2016 and has now been valued at $4,980,730.

The value of these holdings has therefore been appraised at a combined value of just under $8.8 million. While these assets are intended to be a long term holding and remain valued on the Company's balance sheet at their original acquisition value of $4.4 million, the Board and Investment Manager are exploring options to consolidate these assets and unlock their value for the benefit of shareholders.

Ends

For further information please contact:

 
 Craven House Capital              Tel: 0203 286 8130 
  Plc 
  Mark Pajak 
  www.Cravenhousecapital.com 
 SI Capital                        Tel: 01483 413500 
  Broker 
  Nick Emerson 
  www.sicapital.co.uk 
 
   SPARK Advisory Partners           Tel: 0203 368 3550 
   Limited 
   Nominated Adviser 
   Matt Davis/Mark Brady 
   www.Sparkadvisorypartners.com

About Craven House Capital:

Craven House Capital is a frontier and emerging market focused merchant bank seeking value oriented long term investments. Craven House invests in all segments of the capital structure in partnership with local entrepreneurs and the local business community. Craven House provides long term patient capital and is often involved in restructuring, expansion and turn around investments in crisis and transitioning economies.

This information is provided by RNS

The company news service from the London Stock Exchange

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