AcenciA Debt Strategies Limited Half Yearly Report (7794P)

TIDMACD

RNS Number : 7794P

AcenciA Debt Strategies Limited

21 August 2014

ACENCIA DEBT STRATEGIES LIMITED

(The "Company")

(Registered in Guernsey - Number 43787)

Registered Office:

Sarnia House, Le Truchot,

St Peter Port, Guernsey, GY1 4NA

Telephone: [phone]

Facsimile: [phone]

 
 For immediate release   21 August 2014 
----------------------  --------------- 
 

Interim Results for the six months ended 30 June 2014

AcenciA Debt Strategies Ltd ("AcenciA" or the "Company"), the closed-ended investment company listed on the London Stock Exchange, today announces its unaudited interim results for the six months ended 30 June 2014.

http://www.rns-pdf.londonstockexchange.com/rns/7794P_-2014-8-21.pdf

Highlights

-- Net asset value ("NAV") per share at 30 June 2014 increased by 3.5% to 111.65p and the share price by 9.0% to 107.25pence (taking account of dividends paid in both cases)

-- An interim dividend of 1.99p was declared, representing an annualised dividend yield of 3.7% based on the closing share price of the Company of 107.00 pence on 20 August 2014

James Le Pelley, Chairman of AcenciA, said "I have pleasure in presenting you with the Interim Report of AcenciA Debt Strategies which covers another successful period. Despite markets at times appearing somewhat benign on the surface, it has been anything but underneath. This however should provide an optimal environment for multi-strategy credit investors and I am pleased that our managers' extensive experience has enabled them to deliver the consistent low volatility return stream that we seek to offer to our investors."

As previously communicated with our investors, The Board has held discussions with the Investment Manager about a continuation option after many expressed an interest in remaining invested. The Proposals are still to be finalised but the key features would include a Tender Offer for shareholders who wish to exit up to a certain maximum percentage and assuming this is not exceeded, a proposal to extend the life of the Company to 2017. If either the maximum percentage is exceeded or the necessary resolutions are not passed, a resolution for the winding-up of the Company on 31 December 2014 will be put to shareholders.

For further information, please contact:

Saltus Partners LLP, Jon Macintosh

+ 44 20 7408 7765

Canaccord Genuity Limited, David Yovichic

[phone]

Kepler Partners LLP, Hugh van Cutsem

[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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