Alternative Asset Opps PCC Ltd Net Asset Value(s) (3793E)

TIDMTLI

RNS Number : 3793E

Alternative Asset Opps PCC Ltd

15 July 2016

Alternative Asset Opportunities PCC Limited (the "Company")

15 July 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 30 June 2016 was 51.1 pence per share. This represents an increase of 2.2 pence per share from the NAV at 31 May 2016.

It is estimated that exchange rate movements during the month had a positive impact of approximately 4.3 pence per share. Valuation changes and LE updates had a positive impact of 0.4 pence per share. Premiums and other administration expenses, including cost of insurance increases referred to below, cost approximately 2.5 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 $5.0m, which had a negative impact of approximately 1.3 pence per share and is included in the movement above.

Therefore, in aggregate, the effect of cost of insurance increases for four of the six Transamerica policies is now included in the NAV.

Further, as announced on 16 June 2016, during the period the Company was formally notified of cost of insurance increases for two other policies, the effects of which are also included above but were immaterial.

The Company's borrowings as at 30 June 2016 stood at US$nil. Total cash amounted to US$6,665,893.

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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July 15, 2016 11:58 ET (15:58 GMT)