UK Mortgages Limited
(A closed-ended investment company incorporated in Guernsey with
registration number 60440)
Update on Third Transaction
3 January 2017
The Board of UK Mortgages Limited (“UKML”) and TwentyFour Asset
Management LLP (“TwentyFour”) are pleased to announce that
following extensive work both before and during the Christmas
period, terms have been agreed and signed for the purchase of the
existing pool of mortgages discussed in the Company’s announcement
dated 7 December 2016. If completed,
this transaction will be UKML’s third transaction and will deploy
the remaining investible capital.
Given the advanced nature of the negotiations, the expectation
is that the transaction will be completed early in 2017, following
the finalisation of certain pre-acquisition diligence,
documentation and financing arrangements.
More details will be made available once the transaction is
completed, but the expectation is that this transaction will
generate a gross IRR for UKML in excess of 8%* from the date of
purchase.
Further information
TwentyFour Asset Management LLP
Ben Hayward
Rob Ford
Douglas Charleston
Silvia Piva
020 7015 8900
Numis Securities Limited, Corporate Broker
Hugh Jonathan
Nathan Brown
020 7260 1000
* TwentyFour's estimate of the potential total return for this
investment is based on certain scenario and other assumptions. This
and any other references herein to potential future returns or
distributions are targets or estimates and there can be no
guarantee or assurance that they will be achieved.