Trading Statement
02 June 2010 - 12:10AM
UK Regulatory
TIDMCDO
RNS Number : 8739M
Carador PLC
01 June 2010
Carador plc
Trading Update
Carador plc (the "Company") received five distributions in May 2010, three of
which were from investments in subordinated tranches of CLOs.
Of these, the Gale Force 4 CLO Income Notes generated US$879,522 worth of cash
flow in the period (February 2010: US$362,734), of which US$670,717 (76.26%) was
allocated to income as a result of the 20% cap on income defined by the
Company's Pricing Policy.
During the second quarter of 2010 to 28 May 2010, the Company has received EUR
2,496,925 worth of cash flow from its investments in subordinated and income
notes securities of which an estimated EUR 1,876,441(1)has been allocated to
Income. The Company has accrued, in the same period, an estimated EUR 248,453 in
income from debt securities and cash investments. Estimated expenses during the
period were EUR 246,941. As a result, the estimated Net Income available for
distributions during the quarter to date is, as at 28 May 2010, EUR 1,877,953 or
EUR 0.01318 per Share(1).
THIS DOCUMENT IS BEING FURNISHED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT
BE FORWARDED, REPRODUCED OR REDISTRIBUTED OR PASSED ON IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, TO ANY OTHER PERSON. THE DISTRIBUTION OF THIS DOCUMENT
IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW, AND PERSONS INTO WHOSE
POSSESSION THIS DOCUMENT COMES SHOULD INFORM THEMSELVES ABOUT, AND OBSERVE, ANY
SUCH RESTRICTIONS. BY ACCEPTING THIS DOCUMENT, YOU AGREE TO BE BOUND BY THE
FOREGOING LIMITATIONS. THIS DOCUMENT DOES NOT CONSTITUTE OR CONTAIN ANY OFFER
OF, OR THE SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR SECURITIES OF
CARADOR PLC ("CARADOR") IN THE UNITED STATES OR IN ANY OTHER JURISDICTION TO
WHOM OR IN WHICH SUCH SOLICITATION IS UNLAWFUL. THE SECURITIES HAVE NOT BEEN
AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED
STATES OR TO US PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT)
EXCEPT PURSUANT TO AN EXEMPTION FROM, OR A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. CARADOR HAS NOT BEEN, AND WILL
NOT BE, REGISTERED UNDER THE UNITED STATES INVESTMENT COMPANY ACT OF 1940, AS
AMENDED (THE "INVESTMENT COMPANY ACT"). IF YOU ARE IN THE UNITED STATES AND ARE
NOT EITHER A) A "QUALIFIED INSTITUTIONAL BUYER" (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) WHO IS ALSO A "QUALIFIED PURCHASER" (AS DEFINED IN SECTION
2(A)(51) OF THE INVESTMENT COMPANY ACT) FOR PURPOSES OF SECTION 3(C)(7) OF THE
INVESTMENT COMPANY ACT; OR (B) AN "ACCREDITED INVESTOR" (AS DEFINED IN RULE 501
OF THE SECURITIES ACT) WHO IS EITHER A QUALIFIED PURCHASER OR AN ELIGIBLE
INVESTMENT COMPANY ACT INVESTOR, YOU SHOULD NOT OPEN THIS DOCUMENT AND SHOULD
DESTROY IT.
([1]) As determined in accordance with the Company's Pricing Policy.
DISCLAIMER
This document is for informational purposes only and does not constitute an
offer of, or the solicitation of an offer to buy or subscribe for, securities of
Carador PLC ("Carador") in the United States or to any person in any other
jurisdiction to whom or in which such offer or solicitation is unlawful. The
distribution of this document in certain jurisdictions may be restricted by law
and persons into whose possession this document comes should inform themselves
about, and observe any such restrictions. Further, it does not constitute an
offer to sell, or a solicitation of an offer to buy, any investment in, or to
participate in any trading strategy with GSO Capital Partners International LLP
(the "Manager") or its affiliates, including without limitation, The Blackstone
Group L.P., GSO Capital Partners LP and GSO / Blackstone Debt Funds Management
LLC (collectively, the "Manager's Affiliates") or any investment fund managed or
sponsored by the Manager or the Manager's Affiliates (a "Blackstone Fund").
Such an offer only will be made by means of the Private Placement Memorandum (or
other offering document) for the Blackstone Fund as it may be amended or
supplemented from time to time (the "PPM"). Each PPM contains material
information (including a discussion of risk factors and potential conflicts of
interest) not contained in this document, and supersedes and qualifies in its
entirety the information set forth herein. Any decision to invest in, or
withdraw from, a Blackstone Fund should be made after reviewing the appropriate
PPM, conducting such investigations as the investor deems necessary and
consulting the investor's own legal, accounting and tax advisors in order to
make an independent determination of the suitability and consequences of the
investment. A copy of the PPM for each Blackstone Fund is available upon
request. Risks associated with investment in a Blackstone Fund include, without
limitation, illiquidity of an investment, risk of default of the underlying debt
instrument and risk of loss of principal.
Carador has not, and will not be, registered under the Investment Company Act of
1940, as amended (the "Investment Company Act"). In addition, no offer, issue or
sale of securities of Carador has been, or will be, registered under the
Securities Act of 1933, as amended (the "Securities Act") or with any securities
regulatory authority of any State, the United States or other jurisdiction of
the United States. Accordingly, securities of Carador may not be offered, sold,
pledged or otherwise transferred or delivered, directly or indirectly, in or
into the United States, or to or for the account or benefit of any US person
(within the meaning of Regulation S under the Securities Act), except in
transactions that are exempt from registration under the Securities Act and
under circumstances which will not require Carador to register under the
Investment Company Act.
This document is issued and has been approved for the purposes of Section 21
Financial Services and Market Act 2000 ("FSMA") by the Manager, which is
authorised and regulated by the Financial Services Authority in the United
Kingdom. It does not constitute an invitation and should not be taken as an
inducement to engage in any investment activity and is for the purpose of
providing information about Carador only. It may not be relied upon and should
not be used for the purpose of making any investment decision.
This document is based on information which is otherwise publicly available and,
whilst the Manager uses all reasonable efforts to ensure the information is
accurate and up to date, no representations or warranties are given as to the
reliability, accuracy or completeness of the information. Neither the Manager
nor the Manager's Affiliates accepts any liability for any loss or damage which
may arise directly or indirectly from any use of or reliance on such
information. In particular, you should note that, since many or all of the
Manager investments are unquoted, net asset value figures in relation to Carador
are based wholly or partly on estimates of the values of Carador's investments
provided by the originating banks of those underlying investments or other
market counterparties, which estimates may themselves have been subject to no
verification or auditing process or may relate to a valuation at a date before
the relevant net asset valuation for Carador, or which have otherwise been
estimated by Carador's Investment Advisor.
Information contained herein which relates to the net asset value performance of
Carador may not be indicative of how Carador's investments may perform in the
future. Moreover the values of such investments may fluctuate considerably and
the historic net asset values shown for Carador take no account of the costs or
practical difficulties of realising some or all of such investments. The value
of investments offered through or mentioned in this letter may go down as well
as up and investors may not get back the amount invested. No assurance can be
given that the investment objective will be achieved. Information on past
performance, where given, is not necessarily a guide to future performance.
Changes in rates of exchange between currencies may cause the value of
investments to decrease or increase. The information on this letter is provided
solely for information and does not constitute investment advice or personal
investment recommendations. Investments offered through or mentioned in this
letter may not be suitable for all recipients and in each case potential
investors are advised not to take any investment decision unless they have taken
independent advice from an advisor authorised under FSMA.
For other risk factors which may be applicable to Carador and certain of the
information contained herein, you are referred to the Company's listing
particulars dated 12 April 2006, the prospectus dated 30 September 2008 and the
supplement dated 10 March 2009.
The volatility of the indices reflected above and elsewhere in this report may
be materially different from that of the performance of Carador. In particular,
Carador does not have direct exposure to leveraged loans, but rather its
exposure comes through its ownership of CLO securities. In addition, these
indices employ different investment guidelines and criteria than Carador; as a
result, Carador's exposure to leveraged loans may differ significantly from the
securities or other assets that comprise the indices. The performance of these
indices has not been selected to represent an appropriate benchmark to compare
to the performance of Carador, but rather is disclosed to allow for comparison
of the performance of Carador to that of well known, relevant indices. A
summary of the investment guidelines of these indices is available upon request.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTUGURUQUPUGCG
Carador Eur (LSE:CDO)
Historical Stock Chart
From May 2024 to Jun 2024
Carador Eur (LSE:CDO)
Historical Stock Chart
From Jun 2023 to Jun 2024
