Hadrian's Wall Secured Invs.Ltd Portfolio Update (3564L)
24 December 2018 - 6:00PM
UK Regulatory
TIDMHWSL TIDMHWSC
RNS Number : 3564L
Hadrian's Wall Secured Invs.Ltd
24 December 2018
24 December 2018
Hadrian's Wall Secured Investments Limited
Portfolio Update
Further to the announcement made by Hadrian's Wall Secured
Investments Limited (the "Company") on 18 December, the board of
the Company (the "Board") is pleased to announce that assets of
Arensis Energy Ltd, Entrade Energy Ltd and Arensis Energy One Ltd
(together the "Group"), which were placed into administration on 15
October 2018, were acquired out of administration by two new
companies on 21 December 2018. One company has acquired the English
plant and associated operations and one has acquired the Scottish
plant and associated operations, with the acquisitions financed by
the Company.
During the period from 15 October 2018 to 21 December 2018,
interest was not being accrued on the loan and hire purchase
agreement that the Company had in place with the Group. Interest
accruals will recommence with effect from 21 December 2018. The
Company is the first ranking secured creditor to each of the new
companies, with security over all assets including, without
limitation, manufacturing facilities and equipment.
As noted previously the Board, on advice from Hadrian's Wall
Capital Limited, the Company's investment adviser (the "Investment
Adviser"), does not consider that an individual loan loss reserve
is required in respect of this investment. Further, the Investment
Adviser does not anticipate any impact on the Company's ability to
continue to meet the dividend target on the Ordinary Shares.
Contact Details
Hadrian's Wall Capital Limited (Investment Adviser)
Ron Miao / Mike Schozer
Telephone 020 3026 8620
Winterflood Investment Trusts (Corporate Broker)
Joe Winkley / Neil Morgan
Telephone 020 3100 0000
Forward-looking statements
This press release may contain forward-looking statements with
respect to the Company's future (financial) performance and
position. Such statements are based on current expectations,
estimates and projections of the Company and information currently
available to the Company. The Company cautions readers that such
statements involve certain risks and uncertainties that are
difficult to predict and therefore it should be understood that
many factors can cause actual performance and position to differ
materially from these statements. The Company has no obligation to
update the statements contained in this press release, unless
required by law.
LEI: 213800ABN7VKMVNOLG14
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END
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