Alternative Asset Opps PCC Ltd Net Asset Value(s) (9098Q)
November 12 2012 - 9:15AM
UK Regulatory
TIDMTLI
RNS Number : 9098Q
Alternative Asset Opps PCC Ltd
12 November 2012
Alternative Asset Opportunities PCC Limited (the "Company")
12 November 2012
The Board of Alternative Asset Opportunities PCC Limited (the
"Company") announces that, on the basis of the 40,000,000 shares in
issue on 31st October 2012, the net asset value of the US Traded
Life Interests Fund at that date was 76.5 pence per share. This
represents an increase of 0.7 pence per share from the NAV at 30th
September 2012.
The above recognises a profit equivalent to 1.7 pence per share
from the three policy maturities, on two lives, previously
announced. It is estimated that exchange rate movements had a
positive impact during the month of 0.2 pence per share.
The recent placing and open offer of 32,000,000 new shares
raised GBP9,746,000 after expenses. Recognising the issue as at 31
October 2012 would lead to a net asset value on a pro forma basis
of 56.0 pence per share.
Following conversion into US dollars, the net proceeds from the
issue amounted to US$15,600,000, and this has been repaid to Allied
Irish Banks. In addition, US$2,800,000 from one of the above policy
maturities has been received and repaid to Allied Irish Banks. As a
result, the Company's total borrowings now stand at US$788,906.
As a result of the above repayment to Allied Irish Banks, the
loan agreement has been extended to 31st March 2014, in accordance
with the recent prospectus and is expected to cover the Company's
financing needs to that date.
Enquiries:
Peter Ingram Tel: 020 7065 1467
Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
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