TIDMACPM
RNS Number : 4344W
ACP Mezzanine Ltd
29 July 2009
ACP Mezzanine Limited
Trading Update
29 July 2009
ACP Mezzanine Limited (the "Company": AIM: ACPM) today announces its unaudited,
indicative NAV per share as at 30 June 2009 of 28.8 eurocents (31 March 2009:
28.7 eurocents).
The indicative value of the portfolio, together with cash balances, as at 30
June 2009 was as follows:
+---------------------------------------+----------+------------+-+----------+
| | 30 June | 31 March | | |
| | 2009 | 2009 | | |
+---------------------------------------+----------+------------+-+----------+
| Portfolio | EUR'000s | EUR'000s | | |
+---------------------------------------+----------+------------+-+----------+
| | | | | |
+---------------------------------------+----------+------------+-+----------+
| IFR Senior Facilities | 25,956 | 25,610 | | |
+---------------------------------------+----------+------------+-+----------+
| IFR Pref. Equity | 14,942 | 13,376 | | |
+---------------------------------------+----------+------------+-+----------+
| IFR Pref. Equity - accrued interest | 5,159 | 3,700 | | |
+---------------------------------------+----------+------------+-+----------+
| Other Loans | 9,063 | 9,063 | | |
+---------------------------------------+----------+------------+-+----------+
| CLOs | 1,666 | 2,080 | | |
+---------------------------------------+----------+------------+-+----------+
| CDOs | 285 | 238 | | |
+---------------------------------------+----------+------------+-+----------+
| RMBS | 158 | 144 | | |
+---------------------------------------+----------+------------+-+----------+
| Total Portfolio Assets | 57,229 | 54,211 | | |
+---------------------------------------+----------+------------+-+----------+
| Cash Balance* | 10,493 | 13,800 | | |
+---------------------------------------+----------+------------+-+----------+
Indicative prices do not necessarily reflect the realisable value of such
investments.
* The cash balance includes EUR5.971 million at 30 June 2009 (EUR5.971 million at 31
March 2009) being the undrawn amount of the loan facility committed by the
Company to a direct subsidiary of Leasecom Group SAS.
The Company has no borrowings.
Significant events since the 31 March 2009 trading update are as follows:
* A cash distribution of 2.0 eurocents per share was paid to shareholders on 27
May 2009;
* The sale of all the Company's shareholding in PFAFF Industrie Machinen AG
("PFAFF") for EUR0.693m. These shares were pledged as security under the EUR9
million loan facility provided to PFAFF by the Company in June 2008. PFAFF filed
for insolvency in September 2008, but its shares have continued to be listed and
traded on the Frankfurt Stock Exchange. The EUR0.693 million represents a 7.7%
recovery.
Enquiries:
+--------------------------+-------------------------------+--------------------+
| Hugh Field / Bruce | Collins Stewart Europe | +44 (0) 207 523 |
| Garrow | Limited (Nominated Adviser) | 8350 |
+--------------------------+-------------------------------+--------------------+
| Tim McCall / Barnaby Fry | Hogarth Partnership | +44 (0) 207 357 |
| | | 9477 |
+--------------------------+-------------------------------+--------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTUWANRKURBUAR
|