Market Announcement for ERII LN

RNS Number : 6429T

Real Estate Credit Inv. PCC Ltd

07 October 2014

 



7 October 2014

Real Estate Credit Investments PCC Limited (the "Company")

Market Announcement for ERII LN (the Cell shares)

The Company's Board of Directors is pleased to announce the sale of Alba 05, Alba 06 and Eirles 236B at above their aggregate value assessed in the most recent valuation. Following the sale of these assets, the full settlement proceeds from which are expected to be received shortly, the remaining assets of the ERII Cell are as follows:

ERII Cell Position Summary (in € million)

There is one position in the ERII Cell. That position has been held at zero value since the ERII Cell was created, and is expected to have no value in the foreseeable future.

ERII Cell Cash Summary (in € million)

Following the final cash settlement of the realised assets, which is expected to be before 10 October, the cash balance is expected to be approximately €18.2 million

The Directors are considering how best to return the proceeds of the above sales to shareholders as part of the overall realisation of the ERII shares, which may include a winding up of ERII.

For further information, please contact:

Public Relations:                                  Henrietta Dehn      [phone]

Investor Relations:                               Nicole Von Westenholz        [phone]

 

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