Kubera Cross-Border Fund Limited Net Asset Value(s) (4131V)
30 January 2017 - 6:01PM
UK Regulatory
TIDMKUBC
RNS Number : 4131V
Kubera Cross-Border Fund Limited
30 January 2017
Kubera Cross-Border Fund Limited
Net Asset Value
Kubera Cross-Border Fund Limited (the "Fund") (LSE/AIM: KUBC)
announces that as at close of business on 31 December 2016, its
un-audited net asset value per share ("NAV") was US$ 0.48.
Shareholder distributions to date taken together with the NAV total
US$ 0.81.
More details are available in the quarterly newsletter for the
three-month period ended 31 December 2016, also being released
today.
Valuation Methodology
The Fund's investments in securities are measured and reported
at estimated fair value under US GAAP, in accordance with the
Statement of Financial Accounting Standards No.157, Fair Value
Measurement.
If a security is listed on several stock exchanges or markets,
the last closing price on the stock exchange or market which
constitutes the main market for such security is used.
In the event that a listed security has no such price or the
market price is not representative of the fair market value, the
security has limited marketability, or the security is unlisted,
its fair value is determined by the Board of Directors, taking into
account forward market comparable multiples, trailing market
comparable multiples, transaction multiples, and discounted cash
flow models. Inputs include trading values on public exchanges for
comparable securities, historic, current and projected operating
performance, and financing transactions subsequent to the
acquisition of the investment. A discount of up to 10% is taken for
holdings in securities where there is a risk associated with a lack
of liquidity or marketability. A revaluation of these securities is
accepted by the Fund only upon majority approval of the independent
directors of the Fund.
About Kubera Cross-Border Fund Limited
Kubera Cross-Border Fund Limited is a closed-end investment
company incorporated in the Cayman Islands and traded on the AIM
market of the London Stock Exchange. The Fund makes private equity
investments in cross-border companies, primarily in businesses that
operate in the US-India corridor. Several of the Fund's portfolio
companies also benefit from business activities in the growing
Indian domestic market. For further information on the Fund, please
visit www.kuberacrossborderfund.com
For more information contact:
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett/ Jamie Barklem/ Carolyn Sansom
Tel.: +44 (0) 20 7383 5100
Email: philip.j.secrett@uk.gt.com
Numis Securities Limited (Broker)
David Benda, Managing Director
Tel.: +44 (0) 20 7260 1275
Email: d.benda@numis.com
FIM Capital Limited (Administrator, Registrar &
Secretary)
Philip Scales, Director
Tel.: +44 (0) 1624 681250
Email: pscales@fim.co.im
Disclaimer:
This announcement may contain certain forward-looking statements
with respect to the financial condition, results of operations and
business of the Fund and its portfolio companies. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the Fund or its
portfolio companies' actual performance to be materially different
from any future performance expressed or implied by such
forward-looking statements. Such forward-looking statements are
based on assumptions regarding the Fund and its portfolio companies
present and future business strategies and the political and
economic environment in which they operate. Reliance should not be
placed on these forward-looking statements.
In addition, due to the inherent uncertainties associated with
the determination of the valuation of any private equity
investment, the amount realised on disposal of a portfolio company
may differ materially from the amount estimated in determining its
fair value under US GAAP. The impact of such determination cannot
be quantified.
This information is provided by RNS
The company news service from the London Stock Exchange
END
NAVKMGZMNLRGNZM
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