Duet Real Estate Finance Limited Investment Update (1166E)

TIDMDREF

RNS Number : 1166E

Duet Real Estate Finance Limited

13 July 2016

13 July 2016

Duet Real Estate Finance Limited

("DREF" or the "Company")

Investment Update

The board of the Company is pleased to announce that the full repayment of all principal and accrued interest has been received on the Master Fund's UK Prime Office (Canary Wharf) loan (Loan 2), earning returns in-line with its investment criteria. The Company's share of proceeds realised by the Master Fund totals GBP5.7 million, equivalent to 7.93 pence per share.

The Company intends to distribute its share of the realised proceeds pertaining to capital received from the Master Fund, after the deduction of costs and expenses of this distribution along with amounts to be withheld for working capital, as a return of capital. This will be done by an issue of redeemable B shares, followed by their redemption, pro rata to existing shareholders at the time of the relevant issue. The Company will announce further details concerning the return of capital over the next few working days.

Further details of the capital return mechanism are summarised in the Company's Prospectus, which may be accessed via the Company's website (www.dreflimited.com).

For further information, please contact:

   DRC Capital LLP                        [phone] 

Dale Lattanzio

Cyrus Korat

   Stifel Nicolaus Europe Limited                 [phone] 

Neil Winward

Mark Bloomfield

Tunga Chigovanyika

This information is provided by RNS

The company news service from the London Stock Exchange

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July 13, 2016 11:10 ET (15:10 GMT)