Chenavari Capital Solutions Limited Net Asset Value(s) and Dividend (0114L)
April 27 2020 - 10:30AM
UK Regulatory
TIDMCCSL
RNS Number : 0114L
Chenavari Capital Solutions Limited
27 April 2020
Chenavari Capital Solutions Limited (the Company)
27 April 2020
Net Asset Value Per Share and Dividend Declaration
The Company announces the unaudited net asset value per share as
at 31 March 2020:
Ordinary Share: GBP 0.8542*
* Please note that the value of the Spanish mortgage NPL
exposure (which accounts for 59% of CCSL NAV) has not been updated
for the March NAV calculation. The Manager, in accordance with the
Board of Directors, believes it is too early to assess the exact
effect COVID-19 has had on the underlying real estate collateral
value at the end of March. The range of uncertainty for these
investments is believed to be in the order of up to 25%, or up to
15% NAV.
The Investment Manager will continue to monitor these exposures
closely and as more information becomes available adjust the mark
accordingly.
The monthly factsheet will be published in due course .
Dividend Declaration for the Quarter ended 31 March 2020
The Company will not declare and pay a Dividend for the period 1
January 2020 to 31 March 2020.
As noted in the 30 September 2019 annual accounts, dividend
levels have declined as the Company's higher income generating
assets have been realised. Following the recent disposal of the
UK_Corp_1 position and future uncertainty on income flows, it is
unlikely that dividends will be declared in the future as it may
not be viable to make any further dividend payments.
The Company will continue to make capital redemption payments as
future capital becomes available.
Further information in relation to the Company is available
at:
http://www.chenavaricapitalsolutions.com/
Enquiries :
Kirstie Sumarno
Chenavari Investment Managers
Email: ccslir@chenavari.com
Telephone: +44 20 7259 3600
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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