Queen's Walk Investment Limited
01 October 2007
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR
INDIRECTLY IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
Queen's Walk Investment Limited (the 'Company')
Results of Tender Offer
Further to the Company's announcement last Friday of the results of its proposed
tender offer (the 'Tender Offer'), the Company confirms that 560,742 ordinary
shares of the Company that were tendered at the strike price (of Euro 5.55),
being approximately 66.6% of the ordinary shares that were tendered at such
price, were conditionally repurchased pursuant to the Tender Offer. The Tender
Offer is conditional on the approval of shareholders at the extraordinary
general meeting of the Company to be held at 12.30 p.m. on 8 October 2007 (the '
EGM'). A further announcement will be made after the EGM.
For further information please contact:
Caroline Villiers +44 (0) 20 7153 1521
About Queen's Walk
Queen's Walk Investment Limited is a Guernsey-incorporated investment company
listed on the London Stock Exchange. The Company's investment objective is to
preserve capital and to provide stable returns to shareholders in the form of
quarterly dividends. To achieve this, Queen's Walk invests primarily in a
diversified portfolio of subordinated tranches of asset backed securities,
including the unrated 'equity' or 'first loss' residual income position
typically retained by the banks or other financial institutions which have
originated the loan assets that collateralise a securitisation transaction. The
Company makes such investments where its investment manager, Cheyne Capital
Management Limited, considers the coupon or cash flows from the investment to be
attractive relative to the credit exposure of the underlying asset collateral.
The Company believes that its investment focus provides equity investors with
exposure to a relatively new investment opportunity in this asset class.
This information is provided by RNS
The company news service from the London Stock Exchange