CQS RIG FINANCE FUND LIMITED
Shareholders approved the payment of a final dividend of 1 pence per ordinary
share of no par value ("Share") in respect of the financial year ended 30
September 2010, which was paid to shareholders on 11 May 2011.
The recent focus of the Company has been on the completion of certain
restructuring and workout situations and the diversification of its investment
portfolio. Since April, a significant portion of the Company's legacy portfolio
has been realised including investments in Remedial Offshore, Rubicon, Marine
Subsea and Petromena, both from sales and amortisations, and the Company has
made a number of new investments, such that a large proportion of its portfolio
is now invested in income generating assets.
As a result, the Board of Directors today announces that the Company intends to
recommence regular cash distributions in the form of semi-annual dividend
payments and will initially target dividends equivalent to an annual yield of 4
per cent of the Net asset Value per Share at the start of each financial year.
Based on the opening NAV per Share in October 2010 of 27.64 pence, a 4% yield
would equate to approximately 1.1 pence for the year to September 2011. The
Directors have today declared an interim dividend of 0.55 pence per Share in
respect of the financial year ended 30 September 2011 be paid on 7 November
2011 to holders on the register at the close of business on 14 October 2011.
The Shares will go ex-dividend on 12 October 2011.
It is expected that the final dividend will be paid shortly after the Annual
Arbuthnot Securities Limited
Telephone +44 (0) 20 7012 2118
Kleinwort Benson (Channel Islands) Fund Services Limited
Telephone +44 (0) 1481 727111
Date: 9 September 2011
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Source: CQS Rig Finance Fund Ltd via Thomson Reuters ONE