REG - Reconstruction CapII - New Valuations of Private Equity Positions

Reconstruction Capital IIAnnouncement

06/04/2022 10:15

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RNS Number : 4669H  Reconstruction Capital II Ltd  06 April 2022

6 April 2022

 

 

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., Mamaia Resort Hotels SRL and Telecredit IFN SA as of 31
December 2021.

 

Because the transition of Telecredit IFN SA's business model from lending to
individuals to financing small and medium sized companies was still in
progress in 2020, this investment had not been valued by independent
third-party valuers as of 31 December 2020, but rather reflected RC2's share
of Telecredit IFN SA's net asset value audited under IFRS as at that date.

 

The table below shows the new and prior valuations of the private equity
positions:

 

                       Prior valuations €,      Revised valuations €,

as of 31 December 2021
                       as of 31 December 2020
 Policolor SA          13,960,000               17,000,000
 Mamaia Resort Hotels  3,440,548                4,076,986
 Telecredit IFN SA     624,545                  1,895,500
 TOTAL                 18,025,093               22,972,486

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of the
UK law by virtue of the European Union (Withdrawal) Act 2018. The information
is disclosed in accordance with the Company's obligations under Article 17 of
the UK MAR. 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/Luca Nicolae

Tel: +40 21 3167680

 

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett

Tel: +44 (0) 20 7383 5100

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