REG - Highbridge Tactical - Company Update

Highbridge Tactical Credit FundAnnouncement

29/01/2021 17:45

RNS Number : 4272N
  
Highbridge Tactical Credit Fund Ltd
  
29 January 2021
  
 

 29 January 2021
 
HIGHBRIDGE TACTICAL CREDIT FUND LIMITED 
(the "Company")

Registration No. 44704


Registered Office:

SARNIA HOUSE, LE TRUCHOT, ST PETER PORT,

GUERNSEY GY1 1GR

 
TELEPHONE: +44 1481 737600

FACSIMILE: +44 1481 749829


Company Update
 
Redemption in the Highbridge Tactical Credit Master Fund
 
The first quarterly redemption proceeds from the Highbridge Tactical Credit Master Fund ('HTCMF') in connection with the Company's managed wind-down are expected to be received next week and the Board anticipates being able to distribute the redemption proceeds in February. The second quarterly redemption was submitted last week in time for the 31st March 2021 Dealing Day and it is anticipated that proceeds from this second redemption will be distributed in May.
 
Distribution from the Highbridge Multi-Strategy Master Fund
 
A further cash distribution from Highbridge Multi-Strategy Master Fund ('HMSMF') has been received in the amount of £964,968.  The Board has determined that it is not economically viable to make a distribution at this time, so will review the position when the next distribution is received.  This is anticipated to be at the end of March.
NAV Reporting
 
The Board wish to advise that the delay to the estimated weekly NAV at 15 January 2021 is due to the 31 December 2020 valuation of the HMSMF not yet being finalised.  The Board has been informed that the required information is expected to be made available on or before 30 January 2021, and the estimated NAV of the Company is to be published as soon as possible thereafter.
 
Subsequent to the shareholders of the Company passing a resolution that the Company ceases to continue in its current form and enters a managed wind-down, the Board announce that the weekly NAV estimate reporting will cease from the 31 January 2021 to reduce the Company's costs. The Company will continue to publish the monthly final NAVs.  In addition, to help the Company's shareholders track the performance of HTCMF, confirmation is awaited from Highbridge that weekly estimates of the NAV of HTCMF will be available on the Company's website: www.highbridgemsfltd.co.uk going forward.
 
 
For further information please contact:
 




  Praxis Fund Services Limited 
  Company Secretary 
 
 


Tel: +44 (0) 1481 737 600




 
LEI: 213800397SYHLYFH5961
 

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