Ranger Direct Lending Fund PLC Portfolio Update - Further Impairments (1712L)
December 20 2018 - 10:04AM
UK Regulatory
TIDMRDL
RNS Number : 1712L
Ranger Direct Lending Fund PLC
20 December 2018
20 December 2018
RANGER DIRECT LENDING FUND PLC (or the "Company")
Portfolio Update
The Board of the Company announces that Ranger Alternative
Management II, LP (the "Manager") has proposed to further impair
the value of the Canadian SME Lending portfolio by approximately
US$4.8 million (using US Dollar/Canadian Dollar exchange rates as
at 30 November). The Manager has now also recommended increasing
the impairment of the SME/CRE Lending portfolio by approximately
US$1.0 million. These impairments will be reflected in the November
NAV report.
While these impairments result from some new information
received, they are also the output of the Board's rigorous due
diligence as it prepares for the handover of management of the
Company on the termination of the existing Manager's appointment on
12 February 2019.
The announcement contains inside information.
For further information, please contact:
Link Company Matters Limited
Secretary +44 (0)1392 477 510
LEI: 549300VGZSKYQ7C2U221
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END
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