Strategic Review Conclusion
02 11월 2007 - 1:07AM
UK Regulatory
RNS Number:8598G
Ottoman Fund Limited (The)
01 November 2007
For immediate release 01 November 2007
The Ottoman Fund Limited
Conclusion of Strategic Review
On 30th August 2007 The Ottoman Fund Limited (the "Company") announced a
Strategic Review. The Board of the Company, having been advised by Fenchurch
Advisory Partners and Numis Securities, has considered a range of options.
The Strategic Review concluded that a portfolio of considerable value has been
assembled by the Manager but the value of this portfolio is not reflected in the
Company's share price.
The Board has therefore determined that:
1. The portfolio of the Company be progressively realised in a managed way over
the next 18- 24 months so as to maximise the portfolio's value potential and
shareholder returns. It is intended to return sale proceeds to shareholders;
and
2. A share buy back scheme be implemented to return US$30m cash to shareholders,
which will be initiated shortly after the announcement of the Company's
results in mid November
For further details please contact:-
The Company Secretary
Jeremy Hamon
01534 709108
Development Capital Management
Roger Hornett
Tom Pridmore
Andrew Mitchell
020 7355 7600
Buchanan Communications
Charles Ryland
Isabel Podda
020 7466 5000
Fenchurch Advisory Partners
Richard Locke
Rony Lam
020 7382 2220
Numis Securities
Bruce Garrow
Nick Westlake
020 7260 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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