REG - Reconstruction CapII - New Valuations of Private Equity Positions

Reconstruction Capital IIAnnouncement

26/03/2021 11:00

RNS Number : 6574T
  
Reconstruction Capital II Ltd
  
26 March 2021
  
 

26 March 2021
 
Reconstruction Capital II Limited ("RC2" or the "Company")
 
New Valuations of Private Equity Positions 
 
As part of the annual audit process, RC2's auditors have requested from independent third-party valuers new valuations of the Company's investments in Policolor S.A. and Mamaia Resort Hotels SRL as at 31 December 2020. 
 
Because the change of Telecredit IFN SA's business model from lending to individuals to financing small and medium sized companies was still in progress in 2020, RC2's investment in Telecredit IFN SA ("Telecredit") has not been valued by independent third-party valuers, but rather reflects RC2's share of Telecredit's net asset value audited under IFRS as at 31 December 2020. 
 
The table below shows the new and prior valuations of the main private equity positions:
 







Prior valuations €


Revised valuations €




Policolor SA


12,000,000


13,960,000




Mamaia Resort Hotels


3,371,233


3,440,548




Telecredit IFN SA


804,859


624,545




TOTAL


16,176,092


18,025,093



 
 
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
 
For further information, please contact: 
 
Reconstruction Capital II Limited 
Cornelia Oancea/Anca Moraru 
Tel: +40 21 3167680 
 
Grant Thornton UK LLP (Nominated Adviser) 
Philip Secrett 
Tel: +44 (0) 20 7383 5100 

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