Global Fixed Income Realisation Ltd Secondary Sale of Assets (3308E)

TIDMGFIR

RNS Number : 3308E

Global Fixed Income Realisation Ltd

17 October 2018

STOCK EXCHANGE ANNOUNCEMENT

For immediate release

17 October 2018

Global Fixed Income Realisation Ltd

(the "Company" or "GFIR")

(a closed-ended investment company incorporated in Guernsey with registration number 45717 and registered office address of Sarnia House, Le Truchot, St Peter Port, Guernsey, GY1 1GR)

Secondary Sale of Assets

Global Fixed Income Realisation Ltd announces that, in accordance with the Company's realisation investment policy and following a secondary market sales process run by an independent broker, it has accepted a conditional offer for a sale of a portfolio of assets (the "Sale Portfolio").

The following are the key disclosures regarding the disposal:

   --     6 portfolio assets in the Sale Portfolio: 
   -     Vision FCVS RJ, Vision FCVS PB, Autonomy II C, Serengeti, Abax, Clearwater 
   --     Aggregate net cash consideration of the Sale Portfolio of $0.923m which represents: 
   -     Approximately 5p per GFIR share (subject to foreign exchange movements) 
   -     Approximately 41% discount to the GFIR NAV of the Sale Portfolio as at 29 June 2018 

-- Subject, inter alia, to the signing of purchase and sale agreement by the Company and buyer and to the requisite approval for each of the portfolio asset transfers by the relevant issuer

-- Upon each exchange of contract, a 50% deposit will be made payable by the buyer, to be held until transfer of the Sale Portfolio is confirmed.

The Company will publish an update on the disposal in due course. In the meantime the Board intends to proceed as soon as practicable with the previously announced tender offer for aggregate gross consideration of up to GBP1 million, and also to review the appropriate approach for the residual portfolio assets which had an aggregate GFIR NAV of GBP1.133m (approximately 8p per GFIR share), as at 29 June 2018.

Enquiries:

Numis Securities Limited

Nathan Brown [phone]

[e-mail]

Praxis Fund Services Limited

Gwendolyn Norman + 44 (0)1481 737600

[e-mail]

This announcement has been issued through the Companies Announcement Service of Euronext

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END

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October 17, 2018 04:48 ET (08:48 GMT)