TIDMSCRF
RNS Number : 1712N
SME Credit Realisation Fund Limited
18 January 2023
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN
PART, IN OR INTO THE UNITED STATES OR TO US PERSONS
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED UNDER
THE MARKET ABUSE REGULATION (EU) NO. 596/2014.
******
18 January 2023
SME Credit Realisation Fund Limited
(the "Company")
PUBLICATION OF NAV AND RETURN OF CAPITAL - CORRECTION
The following amendment has been made to the 'NAV AND RETURN OF
CAPITAL' announcement released on 18 January 2023 at 07:00 under
RNS No 0235N in order to address an inconsistency.
The correct Redemption Record Date is 27 January 2023.
No other details have been changed.
The full amended text of RNS No 0235N is shown below
*****
18 January 2023
SME Credit Realisation Fund Limited
(the "Company")
PUBLICATION OF NAV AND RETURN OF CAPITAL
Net Asset Value ("NAV")
At 31 December 2022, the NAV attributable to the shares of SME
Credit Realisation Fund Limited was GBP23.05 million (30 September
2022 : GBP32.63 million). The NAV per Share as at 31 December 2022
was 116.02 pence (30 September 2022: 118.46 pence).
The total NAV return for the period 30 September 2022 to 31
December 2022 was -0.95 %.
The Company has published its quarterly factsheet to the end of
December 2022, containing information about the Company's financial
position, performance and prospects, which is available at the
Company's website at
https://www.smecreditrealisation.com/documents/factsheets .
Return of capital
The Company intends to continue returning surplus cash to
shareholders in a cost effective and timely manner through to full
liquidation of the Group. In light of the sale of assets, surplus
cash will broadly represent cash held by the Group above the
requirement needed to pay accruals for ongoing costs through to
final liquidation, and any cash associated with indemnities or
liquidity reserves as detailed below for which the associated
indemnity has amortised or for which the sufficiency of liquidity
has been established.
Compulsory share redemption
The Company will return approximately GBP16.4 million to
shareholders by way of a compulsory partial redemption of shares
(the "Redemption") at 116.02 pence per share, being the NAV per
share as at 31 December 2022, with payment on 6 February 2023 (the
"Redemption Date"). On this basis, approximately 71.28% of each
registered shareholding will be redeemed on 27 January 2023 (the
"Redemption Record Date").
The distribution represents the net proceeds from the sale of
loans in the quarter, less accruals for ongoing costs through to
full liquidation of the Group and its subsidiaries, less c.GBP5.4m
of cash reserves set aside related to indemnities offered to the
purchasers of the loan portfolios and less a GBP1.2m liquidity
reserve related to ensuring sufficient cash is set aside where
there is uncertainty related to statutory or tax obligations that
could materialise during the wind down of the Group. Should the
indemnity reserve and liquidity reserve not be utilised, the
related cash will be returned to shareholders as the indemnity
period amortises over a period of six to twelve months and as there
is more certainty regarding statutory and tax obligations.
As at today's date, the Company has 19,866,783 shares in issue.
The Company holds no shares in treasury.
Fractions of shares will not be redeemed and so the number of
shares to be redeemed for each shareholder will be rounded down to
the nearest whole number of shares.
All shares that are redeemed will be cancelled with effect from
the Redemption Record Date. Accordingly, once redeemed, shares will
be incapable of transfer.
The shares will all be disabled in CREST after close of business
on the Redemption Record Date and the existing ISIN number
GG00BLFGSJ40 (the "Old ISIN") will expire.
The new ISIN number GG00BKQN9M74 (the "New ISIN") in respect of
the remaining shares which have not been redeemed will be enabled
and available for transactions from and including the following
business day, 30 January 2023.
Up to and including the Redemption Record Date, shares will be
traded under the Old ISIN and as such, a purchaser of such shares
would have a market claim for a proportion of the redemption
proceeds. CREST will automatically transform any open transactions
as at the Redemption Record Date into the New ISIN.
Return of capital timetable
Redemption Record Date and expiry of old 27 January 2023
ISIN
New ISIN enabled 30 January 2023
----------------
Redemption monies paid (expected) to uncertificated 6 February 2023
holdings and certificated holdings
----------------
Publication of general meeting circular:
Following the previously announced sale of the Company's
remaining loans, the Company intends to publish a circular in the
coming weeks setting out details of, and convening a general
meeting to seek shareholder approval for, the proposals to delist
SME Credit Realisation Fund Limited, and the plan related to
liquidation. If shareholder approval is forthcoming, SME Credit
Realisation Fund Limited is expected to delist before 31 March 2023
with further information on the liquidation process to be
provided.
CONTACTS
Frédéric Hervouet, Chairman
+44 (0)77 81 159 007
fred_hervouet@hotmail.com
Secretary and Administrator
Sanne Group ( Guernsey ) Limited
+44 (0) 1481 739810
smecreditrealisation@sannegroup.com
Corporate Broker
Numis Securities
Nathan Brown
George Shiel
+44 (0) 207 260 1000
n.brown@numis.com
Investor Relations
IR@smecreditrealisation.com
Website
www.smecreditrealisation.com
The ISIN number of the Ordinary Shares is GG00BLFGSJ40, the
SEDOL code is BLFGSJ4 and the TIDM is SCRF.
The LEI number of the Company is 549300ZQIYQVNIZGOW60.
*****
ABOUT SME Credit Realisation Fund Limited
The Company is a registered closed-ended collective investment
scheme registered pursuant to the Protection of Investors
(Bailiwick of Guernsey ) Law, 2021, as amended and the Registered
Collective Investment Scheme Rules 2020 issued by the Guernsey
Financial Services Commission ("GFSC").
*****
IMPORTANT NOTICES
This announcement contains "forward-looking" statements, beliefs
or opinions. These forward-looking statements involve known and
unknown risks and uncertainties, many of which are beyond the
control of the Company and all of which are based on its directors'
current beliefs and expectations about future events.
Forward-looking statements are sometimes identified by the use of
forward-looking terminology such as "believes", "expects", "may",
"will", "could", "should", "shall", "risk", "intends", "estimates",
"aims", "plans", "predicts", "projects", "continues", "assumes",
"positioned" or "anticipates" or the negative thereof, other
variations thereon or comparable terminology, or by discussions of
strategy, plans, objectives, goals, future events, assumptions or
intentions. These forward-looking statements include all matters
that are not historical facts. Forward-looking statements may and
often do differ materially from actual results. They appear in a
number of places throughout this announcement and include
statements regarding the intentions, beliefs or current
expectations of the Board or the Company with respect to future
events and are subject to risks relating to future events and other
risks, uncertainties and assumptions relating to the Company's
business concerning, amongst other things, the financial
performance, liquidity, prospects, growth and strategies of the
Company. These forward-looking statements and other statements
contained in this announcement regarding matters that are not
historical facts involve predictions. No assurance can be given
that such future results will be achieved; actual events or results
may differ materially as a result of risks and uncertainties facing
the Company. Such risks and uncertainties could cause actual
results to vary materially from the future results indicated,
expressed or implied in such forward-looking statements. The
forward-looking statements contained in this announcement speak
only as of the date of this announcement. Nothing in this
announcement is, or should be relied on as, a promise or
representation as to the future. The Company disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained in this
announcement to reflect any change in its expectations or any
change in events, conditions or circumstances on which such
statements are based unless required to do so by applicable law,
the Prospectus Rules, the Listing Rules or the Disclosure Rules and
Transparency Rules of the FCA. No statement in this announcement is
intended as a forecast or profit estimate.
Neither this announcement nor any copy of it may be made or
transmitted into the United States of America (including its
territories or possessions, any state of the United States of
America and the District of Columbia ) ( the "United States "), or
distributed, directly or indirectly, in the United States or to US
Persons (as such term is defined in Regulation S under the US
Securities Act of 1933, as amended (the "Securities Act"). Neither
this announcement nor any copy of it may be taken or transmitted
directly or indirectly into Australia , Canada , Japan or South
Africa or to any persons in any of those jurisdictions, except in
compliance with applicable securities laws. Any failure to comply
with this restriction may constitute a violation of United States ,
Australian, Canadian, Japanese or South African securities laws.
The distribution of this announcement in other jurisdictions may be
restricted by law and persons into whose possession this
announcement comes should inform themselves about, and observe, any
such restrictions. This announcement does
not constitute or form part of any offer or invitation to sell
or issue, or any solicitation of any offer to purchase or subscribe
for securities in the United States , Australia , Canada , Japan or
South Africa or in any jurisdiction to whom or in which such offer
or solicitation is unlawful.
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
NAVZZGMMVRNGFZM
(END) Dow Jones Newswires
January 18, 2023 11:58 ET (16:58 GMT)
Sme Credit Realisation (LSE:SCRF)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Sme Credit Realisation (LSE:SCRF)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024