REG - SLF Realisation Fund - Net Asset Value(s)

SLF Realisation FundAnnouncement

19/05/2023 07:00

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RNS Number : 9139Z  SLF Realisation Fund Limited  19 May 2023

 

19 May 2023

SLF Realisation  Fund Limited

 ("the Company")

LEI: 2138007S3YRY3IUU4W39

 NET ASSET VALUE UPDATE

 

 

SLF Realisation Fund Limited (the "Company") announces the following NAV
update.

Ordinary Shares:

As at 31 March 2023, the unaudited estimated NAV was £ 35.1
million or 9.85 pence per Ordinary Share. This compares to £43.9
million or 12.34 pence per Ordinary Share from the December
2022 unaudited NAV.

The reduction was due to several asset realisations, notably the Teeside AD
plants Borrowers 1 and 2. As announced on 27 March Borrowers 1 & 2, two
anaerobic digestions plants located in Teesside were refinanced with the
positions being restructured and sold. Borrower 1 repaid the fund £6.3
million and Borrower 2 repaid the fund £3.2 million. They had a carrying
values of £6.8 million and £3.7 million respectively as at 31 December 2022.
Relatively small exposures to Borrowers 1 & 2 remain due to deferred
consideration elements of the settlement.

A further reduction related to increased uncertainty on payments from Borrower
6, a French glass manufacturer. Borrower 6 is reliant on securing new
financing to repay the Company's facility, however its efforts are constrained
by high costs, in particular energy and raw material price inflation

C Shares:

As at 31 March 2023, the unaudited estimated NAV was £17.7
million or 12.75 pence per C Share. This compares to £18.3
million or 13.18 pence per C Share from the December 2022 unaudited NAV.

Since 31 March 2023, the Company has returned further capital amounting to
3.5p per Ordinary Share and 3.5p per C Share.

For further information please contact:

 SLF Realisation Fund Limited    via the Company Secretary

 Brett Miller

 BNP Paribas S.A.,               01481 750 853

 Guernsey Branch                 guernsey.bp2s.slf.co.sec@bnpparibas.com

               (mailto:guernsey.bp2s.slf.co.sec@bnpparibas.com)
 Company Secretary

 Winterflood Securities Limited

 Neil Langford

 

* as referenced in the June 2022 Full Year Report and Accounts

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