Real Estate Credit Investments Ltd Fact Sheet Announcement (2442W)

TIDMRECI

RNS Number : 2442W

Real Estate Credit Investments Ltd

11 December 2023

Real Estate Credit Investments Limited

Investment Manager Fact Sheet

Real Estate Credit Investments Limited (the "Company"), a non-cellular company incorporated in Guernsey, is pleased to announce that its Investment Manager's monthly Fact Sheet as at 30 November 2023 is now available on the Company's website at:

https://realestatecreditinvestments.com/investors/fact-sheets/#currentPage=1

As at 30 November 2023, the Company was invested in a diversified portfolio of 35 investments with a valuation of GBP322.6m.

Due to severe disruption in the German real estate and banking market from the collapse of Signa, RECI has reassessed the recovery valuation on a legacy mezzanine position exposed to a Berlin asset. RECI has therefore conservatively marked this asset down, reporting (but not realising) a small loss equivalent to 1.1p per share against the NAV.

Cash Balance as at 30 November 2023 was GBP16.9m.

RECI continues to take advantage of the highly accretive wider opportunities in senior mortgage lending.

A dividend of 3.0p per share was declared on 29 November 2023, to be paid on 5 January 2024.

A full attribution of changes in the NAV per share is presented in the table:

 
October NAV        148.4p 
-----------------  ------ 
Interest income    1.0p 
Asset valuations   (1.1)p 
FX                 0.1p 
Expenses           (0.3)p 
-----------------  ------ 
November NAV       148.1p 
-----------------  ------ 
 

For further information please contact:

 
                        Richard Crawley / Edward Mansfield    [phone] 
 Broker:                 (Liberum Capital)                         2222 
                                                              [phone] 
 Investment Manager:    Richard Lang (Cheyne)                      7328 
 

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December 11, 2023 02:00 ET (07:00 GMT)