Reconstruction Capital II Ltd New Valuations of Private Equity Positions (6574T)
26 March 2021 - 9:56PM
UK Regulatory
TIDMRC2
RNS Number : 6574T
Reconstruction Capital II Ltd
26 March 2021
26 March 2021
Reconstruction Capital II Limited ("RC2" or the "Company")
New Valuations of Private Equity Positions
As part of the annual audit process, RC2's auditors have
requested from independent third-party valuers new valuations of
the Company's investments in Policolor S.A. and Mamaia Resort
Hotels SRL as at 31 December 2020.
Because the change of Telecredit IFN SA's business model from
lending to individuals to financing small and medium sized
companies was still in progress in 2020, RC2's investment in
Telecredit IFN SA ("Telecredit") has not been valued by independent
third-party valuers, but rather reflects RC2's share of
Telecredit's net asset value audited under IFRS as at 31 December
2020.
The table below shows the new and prior valuations of the main
private equity positions:
Prior valuations Revised valuations
EUR EUR
Policolor SA 12,000,000 13,960,000
----------------- -------------------
Mamaia Resort Hotels 3,371,233 3,440,548
----------------- -------------------
Telecredit IFN SA 804,859 624,545
----------------- -------------------
TOTAL 16,176,092 18,025,093
----------------- -------------------
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information, please contact:
Reconstruction Capital II Limited
Cornelia Oancea/Anca Moraru
Tel: +40 21 3167680
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett
Tel: +44 (0) 20 7383 5100
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCDKABPKBKDQNB
(END) Dow Jones Newswires
March 26, 2021 06:56 ET (10:56 GMT)
Reconstruction Capital Ii (LSE:RC2)
Historical Stock Chart
From Apr 2024 to May 2024
Reconstruction Capital Ii (LSE:RC2)
Historical Stock Chart
From May 2023 to May 2024