Reconstruction Capital II Ltd New Valuations of Private Equity Positions (4669H)

TIDMRC2

RNS Number : 4669H

Reconstruction Capital II Ltd

06 April 2022

6 April 2022

Reconstruction Capital II Limited ("RC2" or the "Company")

New Valuations of Private Equity Positions

As part of the annual audit process, RC2's auditors have requested from independent third-party valuers new valuations of the Company's investments in Policolor S.A., Mamaia Resort Hotels SRL and Telecredit IFN SA as of 31 December 2021.

Because the transition of Telecredit IFN SA's business model from lending to individuals to financing small and medium sized companies was still in progress in 2020, this investment had not been valued by independent third-party valuers as of 31 December 2020, but rather reflected RC2's share of Telecredit IFN SA's net asset value audited under IFRS as at that date.

The table below shows the new and prior valuations of the private equity positions:

 
                    Prior valuations EUR,    Revised valuations 
                    as of 31 December 2020          EUR, 
                                              as of 31 December 
                                                    2021 
 Policolor SA            13,960,000              17,000,000 
                  ------------------------  ------------------- 
 Mamaia Resort 
  Hotels                  3,440,548              4,076,986 
                  ------------------------  ------------------- 
 Telecredit IFN 
  SA                       624,545               1,895,500 
                  ------------------------  ------------------- 
 TOTAL                   18,025,093              22,972,486 
                  ------------------------  ------------------- 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of the UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information, please contact:

Reconstruction Capital II Limited

Cornelia Oancea/Luca Nicolae

Tel: [phone]

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett

Tel: [phone]

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April 06, 2022 05:04 ET (09:04 GMT)