TIDMACPM 
 
RNS Number : 0833R 
ACP Mezzanine Ltd 
24 April 2009 
 

ACP Mezzanine Limited 
Trading Update 
 
 
24 April 2009 
ACP Mezzanine Limited (the "Company": AIM: ACPM) today announces its unaudited, 
indicative NAV per share as at 31 March 2009 of 28.7 eurocents (31 December 
2008: 32.4 eurocents). 
The Company today announces a further return of capital on 27 May 2009 of 2.0 
eurocents per share payable to shareholders on the share register on 8 May 2009. 
It is likely that the payment of any additional distributions for the current 
financial year will be dependent on the completion of further portfolio 
realisations. 
The indicative value portfolio, together with cash balances, as at 31 March 2009 
was as follows: 
+------------------+------------------------------+------------+-----------+----------+ 
|                  |                            31 March 2009  |        31 |          | 
|                  |                                           |  December |          | 
|                  |                                           |      2008 |          | 
+------------------+-------------------------------------------+-----------+----------+ 
| Portfolio        |                                  EUR'000s |  EUR'000s |          | 
+------------------+-------------------------------------------+-----------+----------+ 
|                  |                                           |           |          | 
+------------------+-------------------------------------------+-----------+----------+ 
|                                                 |            |           |          | 
+-------------------------------------------------+------------+-----------+----------+ 
| IFR Senior Facilities*                          |     25,610 |    25,610 |          | 
+-------------------------------------------------+------------+-----------+----------+ 
| IFR Pref. Equity                                |     16,169 |    16,169 |          | 
+-------------------------------------------------+------------+-----------+----------+ 
| Other Loans                                     |      9,063 |    12,033 |          | 
+-------------------------------------------------+------------+-----------+----------+ 
| CLOs                                            |      2,080 |     9,419 |          | 
+-------------------------------------------------+------------+-----------+----------+ 
| CDOs                                            |        238 |       760 |          | 
+-------------------------------------------------+------------+-----------+----------+ 
| RMBS                                            |        144 |       276 |          | 
+-------------------------------------------------+------------+-----------+----------+ 
| Total Portfolio Assets                          |     53,304 |    64,267 |          | 
+-------------------------------------------------+------------+-----------+----------+ 
| Cash Balance**                                  |     13,800 |    11,800 |          | 
+------------------+------------------------------+------------+-----------+----------+ 
Indicative prices do not necessarily reflect the realisable value of such 
investments. 
* No indicative pricing was available from the Company's normal sources for IFR 
Senior Facilities as at 31 March 2009. However, the Company is not aware of any 
trading having taken place in this debt during the quarter ended 31st March 2009 
and accordingly has included its debt holdings at the indicative prices received 
as at 31st December 2008. The Company will review these valuations for the 
interim financial statements as at 30 June 2009. 
** The committed but undrawn amount of EUR5.971 million at 31 March 2009 (EUR9.146 
million at 31 December 2008) for the facility ultimately provided to a direct 
subsidiary of Leasecom Group SAS is included within cash balance. 
The Company has no borrowings. 
Significant events since the 31 December 2008 trading update are: 
  *  A cash distribution of 1.5 eurocents per share was paid to shareholders on 3 
  March 2009; 
  *  The sale on 15 January 2009 of an investment in GCI Automotive Holding GmbH for 
  EUR3.27 million; 
  *  The sale on 4 February 2009 of its participation in the Iceland Foods Group 
  Limited mezzanine loan for EUR3.9 million; and 
  *  The continued deterioration in indicative pricing for the CLO, CDO and RMBS 
  structured products which are now indicatively priced at an average of about 5% 
  of par, compared to 20% of par as at 31st December 2008. 
 
Enquiries 
  *  Hugh Field, Collins Stewart Europe, +44 (0) 207 523 8350 (Nominated Adviser) 
  *  Tim McCall/James Longfield, Hogarth Partnership, +44 (0) 207 357 9477 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 TSTILFLRSAIVFIA
ACP Mezzanine (LSE:ACPM)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more ACP Mezzanine Charts.
ACP Mezzanine (LSE:ACPM)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more ACP Mezzanine Charts.