Global Fixed Income Realisation Ltd Secondary Sale of Assets (3308E)
17 October 2018 - 7:48PM
UK Regulatory
TIDMGFIR
RNS Number : 3308E
Global Fixed Income Realisation Ltd
17 October 2018
STOCK EXCHANGE ANNOUNCEMENT
For immediate release
17 October 2018
Global Fixed Income Realisation Ltd
(the "Company" or "GFIR")
(a closed-ended investment company incorporated in Guernsey with
registration number 45717 and registered office address of Sarnia
House, Le Truchot, St Peter Port, Guernsey, GY1 1GR)
Secondary Sale of Assets
Global Fixed Income Realisation Ltd announces that, in
accordance with the Company's realisation investment policy and
following a secondary market sales process run by an independent
broker, it has accepted a conditional offer for a sale of a
portfolio of assets (the "Sale Portfolio").
The following are the key disclosures regarding the
disposal:
-- 6 portfolio assets in the Sale Portfolio:
- Vision FCVS RJ, Vision FCVS PB, Autonomy II C, Serengeti, Abax, Clearwater
-- Aggregate net cash consideration of the Sale Portfolio of $0.923m which represents:
- Approximately 5p per GFIR share (subject to foreign exchange movements)
- Approximately 41% discount to the GFIR NAV of the Sale Portfolio as at 29 June 2018
-- Subject, inter alia, to the signing of purchase and sale
agreement by the Company and buyer and to the requisite approval
for each of the portfolio asset transfers by the relevant
issuer
-- Upon each exchange of contract, a 50% deposit will be made
payable by the buyer, to be held until transfer of the Sale
Portfolio is confirmed.
The Company will publish an update on the disposal in due
course. In the meantime the Board intends to proceed as soon as
practicable with the previously announced tender offer for
aggregate gross consideration of up to GBP1 million, and also to
review the appropriate approach for the residual portfolio assets
which had an aggregate GFIR NAV of GBP1.133m (approximately 8p per
GFIR share), as at 29 June 2018.
Enquiries:
Numis Securities Limited
Nathan Brown +44 (0)20 7260 1000
n.brown@numis.com
Praxis Fund Services Limited
Gwendolyn Norman + 44 (0)1481 737600
gwen.norman@praxisifm.com
This announcement has been issued through the Companies
Announcement Service of Euronext
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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