REG - SLF Realisation Fund - Asset Realisations

SLF Realisation FundAnnouncement

27/03/2023 09:45

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RNS Number : 3063U  SLF Realisation Fund Limited  27 March 2023

SLF Realisation Fund Limited

 (the "Company")

LEI: 2138007S3YRY3IUU4W39

 

Asset Realisations

 

The Board of the Company is pleased to announce that within the Ordinary Share
Class portfolio, Borrowers 1* & 2*, two anaerobic digestions plants
located in Teesside have refinanced. The positions were restructured and sold.

Borrower 1 repaying the fund £6.3 million plus the potential for a further
£0.5 million of deferred consideration to be adjusted for the completion
balance sheet.

Borrower 2 repaying the fund £3.2 million plus the potential for a further
£0.5 million of deferred consideration again to be adjusted for the
completion balance sheet.

A further additional consideration is payable should the plant achieve high
output levels under the new owners over the coming 24 months, though this
appears unlikely at present.

They had a carrying values of £10.6 million and £9.1 million respectively as
at 30 June 2022. The reduction in value reflects significant shortcomings
uncovered during due diligence and the failure of the plants to effectively
increase output since June 2022.

 

 

*by reference to the half-yearly 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

 

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