Alternative Asset Opps PCC Ltd Net Asset Value and Shareholder Update (4669P)

TIDMTLI

RNS Number : 4669P

Alternative Asset Opps PCC Ltd

17 November 2016

Alternative Asset Opportunities PCC Limited (the "Company")

17 November 2016

Net Asset Value at 31 October 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 October 2016 was 54.9 pence per share. The associated exchange rate at 31 October was GBP1/US$1.221.

In light of shareholders approving the change of investment objective on 10 October 2016 to effect the disposal of the portfolio, the net asset value is now prepared based on the aggregate portfolio sale price of US$43.25 million, plus cash previously held, with provision for an estimate of the Company's future running expenses and the expenses expected to be incurred in the proposed liquidation process.

Cash Balances

The Company's cash balances as at 31 October 2016 amounted to US$15.5 million and GBP5.7 million. The Company's borrowing facility with AIB Bank plc was cancelled with effect from 19 October 2016.

The Company's current cash balances amount to US$280,000 and GBP28.2 million, such balances reflect the policy sale proceeds and premium reimbursements received to date. Policy sale proceeds are converted into Sterling on a weekly basis, in aggregate US$34.9 has to date been converted into Sterling.

Disposal of the Portfolio

As at close of business on 11 November 2016, a further 15 policies had been fully transferred to the purchaser, Vida Longevity L.P and aggregate funds of US$9.8 million had been received for such which include the refund of associated premium payments made since the risk transfer date of 12 September to keep the policies valid and in effect.

There are 27 policies remaining in the transfer process and transfer completions are expected to take place in batches on a weekly basis.

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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November 17, 2016 05:23 ET (10:23 GMT)