Duet Real Estate Finance Limited Investment Update (1166E)
July 13 2016 - 11:10AM
UK Regulatory
TIDMDREF
RNS Number : 1166E
Duet Real Estate Finance Limited
13 July 2016
13 July 2016
Duet Real Estate Finance Limited
("DREF" or the "Company")
Investment Update
The board of the Company is pleased to announce that the full
repayment of all principal and accrued interest has been received
on the Master Fund's UK Prime Office (Canary Wharf) loan (Loan 2),
earning returns in-line with its investment criteria. The Company's
share of proceeds realised by the Master Fund totals GBP5.7
million, equivalent to 7.93 pence per share.
The Company intends to distribute its share of the realised
proceeds pertaining to capital received from the Master Fund, after
the deduction of costs and expenses of this distribution along with
amounts to be withheld for working capital, as a return of capital.
This will be done by an issue of redeemable B shares, followed by
their redemption, pro rata to existing shareholders at the time of
the relevant issue. The Company will announce further details
concerning the return of capital over the next few working
days.
Further details of the capital return mechanism are summarised
in the Company's Prospectus, which may be accessed via the
Company's website (www.dreflimited.com).
For further information, please contact:
DRC Capital LLP +44 (0)20 7042 0600
Dale Lattanzio
Cyrus Korat
Stifel Nicolaus Europe Limited +44 (0)20 7710 7600
Neil Winward
Mark Bloomfield
Tunga Chigovanyika
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFLEDIIVLIR
(END) Dow Jones Newswires
July 13, 2016 11:10 ET (15:10 GMT)
Duet Real Est (LSE:DREF)
Historical Stock Chart
From May 2024 to Jun 2024
Duet Real Est (LSE:DREF)
Historical Stock Chart
From Jun 2023 to Jun 2024