TRIO Trio Fin

    TRIO Finance Limited ("TRIO")

Sale of European B Loan portfolio for cash raises US$44.3m

TRIO announces that it has entered into a binding agreement to sell its entire
Portfolio of European B Loans at a price of 100% of the respective principal
amounts outstanding. Completion of the transaction, which is carried out
through its TREAL affiliate, is scheduled for 11 August 2008. The net proceeds
of the sale, after transaction fees and legal costs, are estimated at US$44.3m
which will be available to TRIO immediately upon completion.

Together with existing cash resources TRIO will have approximately US$51m in
unencumbered cash and cash equivalents equating to approximately US$6.38 per
share. The net asset value per share published with the most recent 6 month
financial statements was US$3.86. TRIO has previously returned to shareholders
US$24.6m in ordinary and special dividends. TRIO floated on the LSE on 5th June
2006 raising US$100m.

The transaction is in line with the Company's policy of de-risking its
positions and raising its liquidity and eliminates TRIO's exposure to downside
on any of its investments. Its other positions - an investment in Lions Hill
Limited and three residual income positions - are already carried at zero in
its books following impairment charges in previous periods.

The Company's Board will meet to consider options for the use of the cash
raised through this transaction, on recommendations from Wharton. Although
there may be potential opportunities for re-investment of the cash should the
market stabilise, the Company has a stated policy of returning excess cash to
shareholders. It is anticipated that a decision will be made by the Company's
year end, 30th September 2008.

Enquiries:

Kleinwort Benson (Channel Islands) Fund Services Limited

Company Secretary

Tel: 01481 727111

or

Simon Rostron

Rostron Parry & Co

Tel: 020 7490 8062



END

Trio Finance (LSE:TRIO)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024

Trio Finance (LSE:TRIO)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024