Net Asset Value(s)

 

TIDMCDO 
 
RNS Number : 9381A 
Carador PLC 
16 October 2009 
 
RNS Announcement 
 
 
Carador plc 
16 September 2009 
 
 
Net Asset Value 
 
 
As at the close of business on 30 September 2009, the unaudited net asset values 
per Share were as follows: 
 
 
+----------------+----------------------+-----------------+ 
| Share class    |         NAV          | Monthly         | 
|                |                      | performance     | 
+----------------+----------------------+-----------------+ 
| EUR Shares     | EUR 0.4256           | 4.88%           | 
|                |                      |                 | 
+----------------+----------------------+-----------------+ 
| USD Shares     | USD 0.5511           | 5.31%           | 
+----------------+----------------------+-----------------+ 
 
 
 
This month's calculations include an estimated EUR -22,646.52 of net cash flow 
interest received in the month (to be allocated between capital and income), 
which equates to EUR -0.000178 or USD -0.0002613 per Share. The net cash outflow 
resulted from the lower level of scheduled distributions in the month which was 
further reduced by the effect of the cash flow diversion from subordinated notes 
to repay senior notes in certain transactions following breaches in their 
over-collateralization tests. 
 
 
During the month, Carador sold half of its investment in the tranche E of Inwood 
Park CDO at a price of 38%, realizing profits of $0.720 million. Carador 
acquired a total of $8mm notional at a price of 20% of par ($1.6mm 
consideration) in October 2008. Following the September month end, Carador sold 
the balance at a price of 50%, realizing additional profits of $1.2 million.  In 
addition, Carador has received aggregate income of $0.35 million from this 
investment giving total cash on cash return of 2.84 times the initial investment 
over the holding period. 
 
 
 
 
This announcement is not for distribution in or into the US or to any US person 
(as defined in Regulation S under the US Securities Act of 1933, as amended) 
(the "Securities Act"). This announcement is not an offer of securities for sale 
in the United States or elsewhere. The Shares of the Company have not been and 
will not be registered under the Securities Act and may not be offered or sold 
in the United States unless registered under the Securities Act or pursuant to 
an exemption from such registration. The Company has not been and will not be 
registered under the US Investment Company Act of 1940, as amended (the 
"Investment Company Act"). There has been and will be no public offering of the 
Shares in the United States. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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