Disposal of remaining IFR Debt
April 28 2010 - 11:50AM
UK Regulatory
TIDMACPM
RNS Number : 9866K
ACP Mezzanine Ltd
28 April 2010
ACP Mezzanine Limited
Disposal of remaining IFR Debt
ACP Mezzanine Limited ("ACPM" or the "Company": AIM: ACPM) is pleased to
announce that it has entered into an agreement to sell all of its holding of IFR
Capital plc's ("IFR") Tranche A, Tranche B and Tranche C debt ("IFR Debt") for a
total cash consideration of EUR18.4 million to Theo Müller Group Secs. The
aggregate book value (including accrued interest) as at 31 December 2009 of
these holdings was EUR15.7 million (EUR0.35 million of principal was paid on 31
March 2010). The sale of the IFR Debt at 95 per cent. of par represents a
successful outcome for the Company (a 20% premium over the latest published book
value). Completion of the transaction is expected to take place on 30 April
2010.
In accordance with ACPM's policy of promptly returning excess cash to
shareholders, ACPM will make a further announcement shortly regarding a
distribution of these receipts.
Since ACPM is now left with no portfolio investments, the Company will be making
an announcement in due course concerning winding up ACPM's affairs.
Enquiries:
+---------------------+---------------------+---------------------+
| Bruce Garrow | Collins Stewart | +44 (0) 207 523 |
| | Europe (Nominated | 8350 |
| | Adviser) | |
+---------------------+---------------------+---------------------+
| Tim McCall/ Barnaby | Hogarth Partnership | +44 (0) 207 357 |
| Fry | | 9477 |
+---------------------+---------------------+---------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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