Alternative Asset Opps PCC Ltd Net Asset Value(s) (1015K)

TIDMTLI

RNS Number : 1015K

Alternative Asset Opps PCC Ltd

16 September 2016

Alternative Asset Opportunities PCC Limited (the "Company")

16 September 2016

Net Asset Value at 31 August 2016

The Board of Alternative Asset Opportunities PCC Limited (the "Company") announces that the net asset value of the US Traded Life Interests Fund at 31 August 2016 was 52.0 pence per share. This represents an increase of 0.2 pence per share from the NAV at 31 July 2016.

It is estimated that exchange rate movements during the month had a positive impact of approximately 0.7 pence per share. Valuation changes and LE updates had a positive impact of 0.7 pence per share. Premiums and other administration expenses cost approximately 0.9 pence per share.

The Company's borrowings as at 31 August 2016 stood at US$nil. Total cash amounted to US$5,471,150.

Proposed Disposal of the Portfolio

Further to the announcement made on 13 September 2016 of the proposed change of investment objective and policy to facilitate the disposal of the portfolio to Vida Longevity Fund L.P.; the Board is pleased to confirm the receipt into escrow of the full $40m purchase price.

The valuation above does not take into account the effect of the disposal agreement.

Cost of Insurance ("COI") increases

Shareholders are reminded of the announcements released in May 2016 referring to potential increases in COI for six Transamerica policies representing a total face value of $9.9m. During the period, the Company was formally notified of COI increases for the final two of these six policies, representing a total face value of $1.3m, which had a negative impact of approximately 0.4 pence per share and is included in the movement above.

As set out in the circular to shareholders dated 13 September 2016, the Company has also recently been made aware of planned COI increases by a further insurer. Such increases will affect six policies with an aggregate face value of $11.95m. While the Company has not received formal notification, it is now able to estimate that the average premium increase is in the region of 64% thereby reducing the net asset value by approximately 2.3 pence per share. The effect of these COI increases has not been incorporated above.

Enquiries:

   Charles Tracy            Tracey Lago 
   Chairman                    Company Secretary                Tel: [phone] 

Alastair Moreton

   Stockdale Securities   Corporate Broker                    Tel: [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 16, 2016 09:08 ET (13:08 GMT)