REG - SLF Realisation Fund - Asset Realisation

SLF Realisation FundAnnouncement

20/10/2022 17:00

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RNS Number : 6156D  SLF Realisation Fund Limited  20 October 2022

SLF Realisation Fund Limited

 (the "Company")

LEI: 2138007S3YRY3IUU4W39

 

Asset Realisations

 

The Board of the Company is pleased to announce that a settlement agreement
has been reached regarding Borrower 5* within the Ordinary Share Class
Portfolio, a US Solar Manufacturer which ceased operating in early 2017 and
has not restarted operations since then.  The settlement agreement is in
regard of a Parental Guarantee from Shunfeng International Clean Energy
Limited ("the Guarantor"), Borrower 5's Hong Kong listed parent company at the
time.

 

The Guarantor, SQN Asset Servicing, LLC "the Agent" (on behalf of the other
lenders within the syndicate), and the Company have agreed to settle with an
agreement comprising an immediate cash payment of $3m. As directed by the
Agent, the Company will receive $2.55m and the other lenders will receive
$0.45m.  In addition, within two months the Company will receive 100m shares
of common stock in the Guarantor, and in one year either $1.8m in cash or the
equivalent value in Guarantor shares of common stock at the Guarantor's
option.  The position had a carrying value of £1.03 million as at 30 June
2022.

 

 

*by reference to the annual financial report to 30 June 2022.

 

For further information please contact:

 

 SLF Realisation Fund Limited       Brett Miller via the Company Secretary

 BNP Paribas S.A., Guernsey Branch  01481 750 853

 Company Secretary

 Winterflood Securities Limited     020 3100 0000

 Neil Langford

 Chris Mills

 

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