Alternative Asset Opps PCC Ltd Net Asset Value(s) (3793E)
July 15 2016 - 11:58AM
UK Regulatory
TIDMTLI
RNS Number : 3793E
Alternative Asset Opps PCC Ltd
15 July 2016
Alternative Asset Opportunities PCC Limited (the "Company")
15 July 2016
The Board of Alternative Asset Opportunities PCC Limited (the
"Company") announces that the net asset value of the US Traded Life
Interests Fund at 30 June 2016 was 51.1 pence per share. This
represents an increase of 2.2 pence per share from the NAV at 31
May 2016.
It is estimated that exchange rate movements during the month
had a positive impact of approximately 4.3 pence per share.
Valuation changes and LE updates had a positive impact of 0.4 pence
per share. Premiums and other administration expenses, including
cost of insurance increases referred to below, cost approximately
2.5 pence per share.
Shareholders attention is drawn to the announcements released by
the Company on 11 and 26 May 2016 referring to potential increases
in cost of insurance for six Transamerica policies representing a
total face value of $9.9m.
During the period, the Company was formally notified of cost of
insurance increases for two of these six policies, representing a
total face value of $5.0m, which had a negative impact of
approximately 1.3 pence per share and is included in the movement
above.
Therefore, in aggregate, the effect of cost of insurance
increases for four of the six Transamerica policies is now included
in the NAV.
Further, as announced on 16 June 2016, during the period the
Company was formally notified of cost of insurance increases for
two other policies, the effects of which are also included above
but were immaterial.
The Company's borrowings as at 30 June 2016 stood at US$nil.
Total cash amounted to US$6,665,893.
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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July 15, 2016 11:58 ET (15:58 GMT)
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