REG - SLF Realisation Fund SLF Realisation-SLFX - Investment Update

SLF Realisation FundAnnouncement

09/02/2024 11:30

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RNS Number : 6746C  SLF Realisation Fund Limited  09 February 2024

9 February 2024

 

This announcement contains information that qualifies or may qualify as inside
information under the UK Market Abuse Regulation and the EU Market Abuse
Regulation.

 

SLF Realisation Fund Limited

 (the "Company")

LEI: 2138007S3YRY3IUU4W39

 

Investment Update

 

At the time of the publication of the 30 September 2023 NAV, announced on 14
November 2023, the Company highlighted that, on the weekend of 11 / 12
November 2023, Borrower 6 (in the Ordinary Share portfolio), a French glass
manufacturer, was impacted by floods in northern France. At that time, the
extent of the impact was being assessed but it was expected that the greatest
impact would be on the timing of payments in the near term.  The borrower has
been further impacted by floods in January 2024 and the Company is working
with the borrower towards restructuring the loan, in particular, around the
timing of the payments with current amounts due likely to be deferred and the
maturity date extended out to 2025.

 

In light of the recent developments, the Board anticipates a reduction in the
holding value of the asset to be reflected in the net asset value as at 31
December 2023 to be announced in due course. The review of the Company's
half-year result to 31 December 2023 is ongoing, however, at this stage the
adjustment is expected to be approximately £4m. The Company reiterates that
it continues to pursue full repayment of the loan and will provide a further
update at the time of the half-year results to 31 December 2023, to be
published before the end of the March 2024

 

The person responsible for arranging the release of this announcement on
behalf of SLF Realisation Fund Limited is BNP Paribas SA, Guernsey Branch as
Company Secretary.

 

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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