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RDL Rdl Realisation Plc

59.70
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Rdl Realisation Plc LSE:RDL London Ordinary Share GB00BW4NPD65 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 59.70 56.20 63.20 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

RDL Realisation PLC Portfolio Update (1104W)

12/04/2019 4:58pm

UK Regulatory


Rdl Realisation (LSE:RDL)
Historical Stock Chart


From Mar 2019 to Mar 2024

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TIDMRDL

RNS Number : 1104W

RDL Realisation PLC

12 April 2019

12 April 2019

RDL Realisation Plc (the "Company")

Portfolio Update

The Company announces that following a thorough review of the collateral in respect of the loan facilities extended to the Vehicle Services Contract ("VSC") platform, which includes a loan to the holding company, the review indicates a substantial reduction in collateral security for the Company's outstanding principal amount due to a variety of factors. In order to accurately reflect the risk and the appropriate cost of capital for the portion of the loan that is not directly secured by collateral, the Company has applied a risk adjusted discount rate which is considered appropriate for an unsecured loan, resulting in an impairment to the loan value.

As a result, an additional reserve of approximately US$9 million to reflect the estimated impairment to the loan value has been recognised as at 31 December 2018. The combined balance of the two loans on the VSC platform as at 31 December 2018 was US$48,484,720. The total balance after the impairment charge is therefore US$39,375,720. Restructuring efforts are continuing. Further updates will be provided in due course.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

For further information, please contact:

 
 Link Company Matters Limited 
  Secretary                      +44 (0)1392 477 510 
 
 
 

LEI: 549300VGZSKYQ7C2U221

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

April 12, 2019 11:58 ET (15:58 GMT)

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