Reconstruction Capital II Ltd New Valuations of Private Equity Positions (4669H)
April 06 2022 - 5:04AM
UK Regulatory
TIDMRC2
RNS Number : 4669H
Reconstruction Capital II Ltd
06 April 2022
6 April 2022
Reconstruction Capital II Limited ("RC2" or the "Company")
New Valuations of Private Equity Positions
As part of the annual audit process, RC2's auditors have
requested from independent third-party valuers new valuations of
the Company's investments in Policolor S.A., Mamaia Resort Hotels
SRL and Telecredit IFN SA as of 31 December 2021.
Because the transition of Telecredit IFN SA's business model
from lending to individuals to financing small and medium sized
companies was still in progress in 2020, this investment had not
been valued by independent third-party valuers as of 31 December
2020, but rather reflected RC2's share of Telecredit IFN SA's net
asset value audited under IFRS as at that date.
The table below shows the new and prior valuations of the
private equity positions:
Prior valuations EUR, Revised valuations
as of 31 December 2020 EUR,
as of 31 December
2021
Policolor SA 13,960,000 17,000,000
------------------------ -------------------
Mamaia Resort
Hotels 3,440,548 4,076,986
------------------------ -------------------
Telecredit IFN
SA 624,545 1,895,500
------------------------ -------------------
TOTAL 18,025,093 22,972,486
------------------------ -------------------
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of the UK law by virtue of the European
Union (Withdrawal) Act 2018. The information is disclosed in
accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.
For further information, please contact:
Reconstruction Capital II Limited
Cornelia Oancea/Luca Nicolae
Tel: +40 21 3167680
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett
Tel: +44 (0) 20 7383 5100
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