TLI Alt. AO. Prfnpv

TIDMTLI

RNS Number : 7148F

Alternative Asset Opps PCC Ltd

13 November 2015

Alternative Asset Opportunities PCC Limited (the "Company")

13 November 2015

The Board of Alternative Asset Opportunities PCC Limited (the "Company") announces that the net asset value of the US Traded Life Interests Fund at 31 October 2015 was 46.0 pence per share. This represents an increase of 2.0 pence per share from the NAV at 30 September 2015.

It is estimated that exchange rate movements during the month had a negative impact of approximately 0.8 pence per share whilst other valuation changes, including the uplifts to NAV from the policy maturities announced on 16 September and 23 September (which have now been formally certified), had a positive impact of 3.4 pence per share. Premiums and other administration expenses cost approximately 0.6 pence per share.

The maturity announced on 20 August was only formally certified in early November and therefore the uplift to NAV of approximately 2.0 pence per share is not included in the 31 October 2015 NAV per share reported above.

The Company's borrowings as at 31 October 2015 stood at US$2,000,000. Total cash, including drawn borrowings, amounted to US$3,762,459 and includes receipt of US$3,000,000 of the US$10,000,000 proceeds from the three recent maturities. A further US$3,000,000 was received after 31 October 2015 and the balance is expected to be received in the coming weeks. On 11 November 2015 the drawn amount on the AIB loan facility of US$2,000,000 was repaid in full, drawings now stand at US$nil.

In light of the relatively small number of policy maturities in the year to date, the Board continues to take a cautious approach to cash management. Accordingly it does not propose to make a further capital distribution following full receipt of the maturity proceeds referred to above. However, the Board will review the Company's cash position again at the time of the half year results announcement in February 2016 taking into account any further maturities, the level of premium and administration expenses and general market and shareholder sentiment.

Enquiries:

 
 Tracey Lago          Tel: 020 3246 7405 
  Company Secretary 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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November 13, 2015 09:31 ET (14:31 GMT)

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