Eurocastle Announces Positive Resolution On Legacy Debt Claim

 
TIDMECT 
 
   Contact: 
 
 
   Oak Fund Services (Guernsey) Limited 
 
   Company Administrator 
 
   Attn:  Mark Woodall 
 
   Tel:  [phone] 
 
 
   Eurocastle Announces Positive Resolution on Legacy Debt Claim 
 
   Guernsey, 11 December 2020 - Eurocastle Investment Limited (the 
"Company" or "Eurocastle") is pleased to announce the positive 
resolution of a claim relating to its legacy debt business. Given the 
uncertainty ascribed to the outcome of the claim, the Company did not 
attribute any value in its accounts other than reserving for its share 
of the associated costs. The Company estimates that its share of the 
agreed settlement after expenses is approximately EUR2.2 million which 
is expected to be received prior to 31 December 2020. Taking into 
account costs previously reserved for, the estimated net positive impact 
to Eurocastle's Adjusted Net Asset Value is EUR2.3 million, or EUR1.22 
per share. 
 
   ADDITIONAL INFORMATION 
 
   For investment portfolio information, please refer to the Company's most 
recent Financial Report, which is available on the Company's website ( 
https://www.globenewswire.com/Tracker?data=f7d-OZGPCBFkIXqPQ8Yxubs9-lU0YzGXM_yFlSCQVoUX9MzFVX0ie0thmSw585GRXS5dyEPGZfqkKutPVIdQWVb18EGSXPWmUiWVWCWe364= 
www.eurocastleinv.com). 
 
   ABOUT EUROCASTLE 
 
   Eurocastle Investment Limited ("Eurocastle" or the "Company") is a 
publicly traded closed-ended investment company, focused on Italian 
performing and non-performing loans, Italian loan servicing platforms 
and other real estate related assets in Italy. On 18 November 2019, the 
Company announced a plan to realise the majority of its assets with the 
aim of accelerating the return of value to shareholders. The Company 
will not currently seek material new investments from the proceeds of 
the realisation but, will continue to support its existing investments 
to the extent required in order to optimise returns and distribute cash 
to shareholders when available (the "Realisation Plan"). For more 
information regarding Eurocastle Investment Limited and to be added to 
our email distribution list, please visit 
https://www.globenewswire.com/Tracker?data=f7d-OZGPCBFkIXqPQ8Yxubs9-lU0YzGXM_yFlSCQVoWCUaY1P3Xz1BNYu1HrLgVHgYGhMJD_D0ezKDb7LjbQouSrzb1PyQAVHqmd2RolKoU= 
www.eurocastleinv.com. 
 
   . 
 
 
 
 

(END) Dow Jones Newswires

December 11, 2020 02:00 ET (07:00 GMT)

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