REG - GCP Asset Backed Inc - Loan Repayment

GCP Asset Backed Income FundAnnouncement

08/07/2024 16:15

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RNS Number : 5628V  GCP Asset Backed Income Fund Ltd  08 July 2024

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FOR IMMEDIATE RELEASE

8 July 2024

GCP Asset Backed Income Fund Limited

("GABI" or the "Company")

LEI: 213800FBBZCQMP73A815

Repayment proceeds of c. £10.1m received.

The Company is pleased to announce that on the 5(th) July 2024 the Company
received the repayment in full of c. £10.1 million outstanding under a loan
(the "Loan") secured against a development stage residential development in
Ireland (the "Repayment"). The original maturity of the Loan was December 2024
but was brought forward by agreement with the Company. At 31 March 2024 the
Loan was valued at c. £9.8m and represented c. 3% of the Company's investment
portfolio as this date.

The Repayment is in line with the forecasts set out in the plan for the
managed realisation of the Company's assets prepared by Gravis Capital
Management Ltd ("Gravis"), the Company's Investment Manager (the "Realisation
Plan").  The Realisation Plan was published on the 3(rd) July 2024 and is
available on the Company's website at: GABI-Realisation-Plan.pdf
(graviscapital.com)
(https://cdn.graviscapital.com/graviscapital/files/GABI-Realisation-Plan.pdf)
.

A further update on the Company's investment portfolio will be provided, as
usual, as part of the June net asset value publication.

For further information:

 GCP Asset Backed Income Fund Limited                                      +44 (0)15 3482 2251

 Alex Ohlsson, Chairman
 Gravis Capital Management Limited - Investment Manager                    +44 (0)20 3405 8500

 Philip Kent

 Anthony Curl

 Cameron Gardner

 Barclays Bank PLC, acting through its Investment Bank - Corporate Broker  +44 (0)20 7623 2323

 Dion Di Miceli                                                            BarclaysInvestmentCompanies@barclays.com

 Stuart Muress

 James Atkinson

 Buchanan/Quill - Media Enquiries                                          +44 (0)20 7466 5000

 Helen Tarbet

 Henry Wilson

 George Beale

Notes to the Editor

About GABI

GCP Asset Backed Income Fund Limited is a closed ended investment company. Its
shares are traded on the Premium Segment of the Main Market of the London
Stock Exchange. Its investment objective is to undertake a managed wind-down
of the Company and realise all existing assets in the Company's portfolio in
an orderly manner.

The Company's portfolio comprises a diversified portfolio of predominantly UK
based asset backed loans which are secured against contracted, predictable
medium to long term cash flows and/or physical assets.

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