Cqs Rig Share Discussion Threads

[steelwatch] 24/1/2012 17:38

As at the close of business on 23 January 2012 the Estimated NAV per share as 33.43 pence

[steelwatch] 17/1/2012 17:38

As at the close of business on 16 January 2012 the Estimated NAV per share was 33.27 pence.

[steelwatch] 16/1/2012 21:58

CQS Rig Finance Fund Ltd : Change of Adviser
For immediate release on 16th January 2012

Appointment of Broker

CQS Rig Finance Fund Limited (the "Company") is pleased to announce the appointment of Westhouse Securities Limited as its broker with immediate effect. Arbuthnot Securities Limited will continue to act as the Company's Nominated Adviser.

[steelwatch] 12/1/2012 21:21

Final Net Asset Value (NAV)

As at the close of business on 30 Dec 2011 the NAV per share was 32.83 pence.

[steelwatch] 03/1/2012 17:49

As at the close of business on 30(th) Dec 2011 the Estimated NAV per share was
32.83 pence.

[steelwatch] 28/12/2011 18:57

As at the close of business on 22 December 2011 the Estimated NAV per share as 32.78 pence.

[tenapen] 22/12/2011 10:10

Hi Steelwatch,
I like a good Dividend and i will put RIG on my '2012 to do list'.

Best Wishes for 2012.

[steelwatch] 20/12/2011 17:46

Annual Report out:



and Final Dividend Declaration (see the header above).

[steelwatch] 20/12/2011 17:28

As at the close of business on 19 December 2011 the Estimated NAV per share as 32.74 pence.

[steelwatch] 15/12/2011 15:29

As at the close of business on 30(th) Nov 2011 the Estimated NAV per share was
32.51 pence.

[steelwatch] 13/12/2011 22:00

21:31 !!!!!!!!!!!!!!!!!!!

As at the close of business on 12 December 2011 the Estimated NAV per share as 32.66 pence.

[steelwatch] 07/12/2011 13:45

As at the close of business on 05 December 2011 the Estimated NAV per share as 32.59 pence.

[steelwatch] 01/12/2011 15:53

As at the close of business on 30(th) Nov 2011 the Estimated NAV per share was
32.50 pence.

[steelwatch] 29/11/2011 16:22

As at the close of business on 28 November 2011 the Estimated NAV per share was 32.49 pence.

[steelwatch] 22/11/2011 14:34

As at the close of business on 21 November 2011 the Estimated NAV per share as 32.50 pence.

[steelwatch] 15/11/2011 15:38

As at the close of business on 14 November 2011 the Estimated NAV per share as 32.43 pence.

[steelwatch] 08/11/2011 16:01

As at the close of business on 07 November 2011 the Estimated NAV per share as 32.33 pence.

[steelwatch] 02/11/2011 11:16

As at the close of business on 31(st) Oct 2011 the Estimated NAV per share was
32.07 pence.

[steelwatch] 25/10/2011 16:49

As at the close of business on 24 October 2011 the Estimated NAV per share was 31.71 pence

[tiltonboy] 24/10/2011 22:21

So, the NAV to increase by just under 4p then. I had hoped for 5p, so a little disappointing, but still a welcome uplift.

The annual dividend should now be in the order of 1.3p, and on a GRY of 12%, the NAV should be around 40p in three years time.

[steelwatch] 24/10/2011 17:09

Update on FPS Ocean

The Company notes the announcement made by Norsk Tillitsmann ASA as Trustee for
the FPS Ocean AS (formerly DP Producer AS) bonds (ISIN NO0010340425), dated
21(st) October 2011, stating that the net payment due to bond holders following
the sale of M/S Laurita will be 32 per cent of the outstanding bonds.

The Trustee has indicated that payment should be received by bond holders on
28(th) October 2011. The Company currently holds a position in the bonds of
20.4m USD nominal par amount marked at a bid price of 5 per cent within the
Estimated Net Asset Value ("NAV") published for close of business 17(th) October
2011. The impact upon the NAV of the proceeds in comparison to the price is
approximately 3.54 pence per Share.

The Trustee has also indicated that legal fees funded by the Participating
Bondholders' group (of which the Company was a member) in respect of action
taken to assist in the above outcome will be returned to the Company. It is
estimated that the net impact upon the Company's NAV from such return will be
USD 620,000 or approximately 0.40 pence per Share.

[steelwatch] 18/10/2011 15:08

As at the close of business on 17 October 2011 the Estimated NAV per share as 27.75 pence.

(Discount narrowed)

[ursus] 13/10/2011 11:38

if for the sake of argument $10m remains after the expenses referred to in the announcement have been discharged, then in round figs ---

- 4/15ths of that comes to CQS (they hold 20.4m of a total bond issue of 75m) - tho no doubt there will be some liqidation costs. ie $2.66m

- $2.66m is £1.71m (at £/$ 1.55)

- £1.71m is 1.76p per share added to nav.

If $20m survives yard expenses etc, then the asset increase is 3.53p