Alternative Asset Opps PCC Ltd Net Asset Value(s) (4558B)

TIDMTLI

RNS Number : 4558B

Alternative Asset Opps PCC Ltd

16 June 2016

Alternative Asset Opportunities PCC Limited (the "Company")

16 June 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 May 2016 was 48.9 pence per share. This represents a decrease of 0.8 pence per share from the NAV at 30 April 2016.

It is estimated that exchange rate movements during the month had a positive impact of approximately 0.3 pence per share. Valuation changes and LE updates had a positive impact of 0.2 pence per share. Premiums and other administration expenses cost approximately 0.6 pence per share.

Shareholders attention is drawn to the announcements released by the Company on 11 and 26 May 2016 referring to potential increases in Cost of Insurance for six Transamerica policies representing a total face value of $9.9m. During the period, the Company was formally notified of Cost of Insurance increases for two of these six policies, representing a total face value of $3.6m. Incorporating the increased future premiums for these two policies had a negative impact of 0.7 pence per share.

During June we were advised of two further COI increases. These do not have a material effect on the Company's NAV. Their effect will be incorporated into the end June NAV calculation

The Company's borrowings as at 31 May 2016 stood at US$nil. Total cash amounted to US$7,763,999.

Enquiries:

 
 Tracey Lago          Tel: [phone] 
  Company Secretary 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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June 16, 2016 10:13 ET (14:13 GMT)