Highbridge Tactical Credit Fund Ltd Company Update (4272N)

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RNS Number : 4272N

Highbridge Tactical Credit Fund Ltd

29 January 2021

29 January 2021

HIGHBRIDGE TACTICAL CREDIT FUND LIMITED

(the "Company")

Registration No. 44704

Registered Office:

SARNIA HOUSE, LE TRUCHOT, ST PETER PORT,

GUERNSEY GY1 1GR

TELEPHONE: [phone]

FACSIMILE: [phone]

Company Update

Redemption in the Highbridge Tactical Credit Master Fund

The first quarterly redemption proceeds from the Highbridge Tactical Credit Master Fund ('HTCMF') in connection with the Company's managed wind-down are expected to be received next week and the Board anticipates being able to distribute the redemption proceeds in February. The second quarterly redemption was submitted last week in time for the 31(st) March 2021 Dealing Day and it is anticipated that proceeds from this second redemption will be distributed in May.

Distribution from the Highbridge Multi-Strategy Master Fund

A further cash distribution from Highbridge Multi-Strategy Master Fund ('HMSMF') has been received in the amount of GBP964,968. The Board has determined that it is not economically viable to make a distribution at this time, so will review the position when the next distribution is received. This is anticipated to be at the end of March.

NAV Reporting

The Board wish to advise that the delay to the estimated weekly NAV at 15 January 2021 is due to the 31 December 2020 valuation of the HMSMF not yet being finalised. The Board has been informed that the required information is expected to be made available on or before 30 January 2021, and the estimated NAV of the Company is to be published as soon as possible thereafter.

Subsequent to the shareholders of the Company passing a resolution that the Company ceases to continue in its current form and enters a managed wind-down, the Board announce that the weekly NAV estimate reporting will cease from the 31 January 2021 to reduce the Company's costs. The Company will continue to publish the monthly final NAVs. In addition, to help the Company's shareholders track the performance of HTCMF, confirmation is awaited from Highbridge that weekly estimates of the NAV of HTCMF will be available on the Company's website : www.highbridgemsfltd.co.uk going forward.

For further information please contact:

 
  Praxis Fund Services Limited   Tel: [phone] 
   Company Secretary 
 

LEI: 213800397SYHLYFH5961

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January 29, 2021 12:45 ET (17:45 GMT)