Chenavari Capital Soluti... Share Discussion Threads

[jonwig] 10/10/2013 12:12

Capital Relief Trades explained:

[jonwig] 07/10/2013 07:14

130,300,000 shares issued at 100p. (Target: up to 250m shares.)
Dealings begin 7 Oct 2013.

The Company will undertake 'Capital Solutions' transactions with European Banks seeking to earn an attractive rate of return with exposure to well defined credit risk whilst contributing to reduce the risk weighted assets of these banks.

· The Company will target a net total return on invested capital of 12 per cent. per annum or more over the life of the Company.

· Shareholder returns will predominantly be provided in the form of dividend income.

· The Company will seek exposure to a range of underlying credit risks, including mortgage, corporate and SME loans, asset backed securities, derivatives and counterparty risks.

· Chenavari manages a fund following the same investment strategy as the Company, which has delivered an annual net return of 16.1 per cent. from inception in April 2011 to 30 August 2013.



Link to documents, including monthly reports:


Significant holdings (130.3m shs) at 10/10/13:
Chenavari European Opp. Credit Master Fund LP ... 27,760,000 ... 21.3%
Baring Asset management ......................... 10,291,440 .... 7.9%
Sarasin and Partners LLP ......................... 9,908,845 .... 7.6%
Arbuthnot Latham Nominees Ltd .................... 9,246,174 .... 7.1%

Net Asset Values:
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