Net Asset Value(s)
17 October 2009 - 1:21AM
UK Regulatory
TIDMCDO
RNS Number : 9381A
Carador PLC
16 October 2009
RNS Announcement
Carador plc
16 September 2009
Net Asset Value
As at the close of business on 30 September 2009, the unaudited net asset values
per Share were as follows:
+----------------+----------------------+-----------------+
| Share class | NAV | Monthly |
| | | performance |
+----------------+----------------------+-----------------+
| EUR Shares | EUR 0.4256 | 4.88% |
| | | |
+----------------+----------------------+-----------------+
| USD Shares | USD 0.5511 | 5.31% |
+----------------+----------------------+-----------------+
This month's calculations include an estimated EUR -22,646.52 of net cash flow
interest received in the month (to be allocated between capital and income),
which equates to EUR -0.000178 or USD -0.0002613 per Share. The net cash outflow
resulted from the lower level of scheduled distributions in the month which was
further reduced by the effect of the cash flow diversion from subordinated notes
to repay senior notes in certain transactions following breaches in their
over-collateralization tests.
During the month, Carador sold half of its investment in the tranche E of Inwood
Park CDO at a price of 38%, realizing profits of $0.720 million. Carador
acquired a total of $8mm notional at a price of 20% of par ($1.6mm
consideration) in October 2008. Following the September month end, Carador sold
the balance at a price of 50%, realizing additional profits of $1.2 million. In
addition, Carador has received aggregate income of $0.35 million from this
investment giving total cash on cash return of 2.84 times the initial investment
over the holding period.
This announcement is not for distribution in or into the US or to any US person
(as defined in Regulation S under the US Securities Act of 1933, as amended)
(the "Securities Act"). This announcement is not an offer of securities for sale
in the United States or elsewhere. The Shares of the Company have not been and
will not be registered under the Securities Act and may not be offered or sold
in the United States unless registered under the Securities Act or pursuant to
an exemption from such registration. The Company has not been and will not be
registered under the US Investment Company Act of 1940, as amended (the
"Investment Company Act"). There has been and will be no public offering of the
Shares in the United States.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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