SLF Realisation Fund Limited Net Asset Value(s) (9139Z)

TIDMSLFR

RNS Number : 9139Z

SLF Realisation Fund Limited

19 May 2023

19 May 2023

SLF Realisation Fund Limited

("the Company")

LEI: 2138007S3YRY3IUU4W39

NET ASSET VALUE UPDATE

SLF Realisation Fund Limited (the "Company") announces the following NAV update.

Ordinary Shares:

As at 31 March 2023, the unaudited estimated NAV was GBP 35.1 million or 9.85 pence per Ordinary Share. This compares to GBP43.9 million or 12.34 pence per Ordinary Share from the December 2022 unaudited NAV.

The reduction was due to several asset realisations, notably the Teeside AD plants Borrowers 1 and 2. As announced on 27 March Borrowers 1 & 2, two anaerobic digestions plants located in Teesside were refinanced with the positions being restructured and sold. Borrower 1 repaid the fund GBP6.3 million and Borrower 2 repaid the fund GBP3.2 million. They had a carrying values of GBP6.8 million and GBP3.7 million respectively as at 31 December 2022. Relatively small exposures to Borrowers 1 & 2 remain due to deferred consideration elements of the settlement.

A further reduction related to increased uncertainty on payments from Borrower 6, a French glass manufacturer. Borrower 6 is reliant on securing new financing to repay the Company's facility, however its efforts are constrained by high costs, in particular energy and raw material price inflation

C Shares:

As at 31 March 2023, the unaudited estimated NAV was GBP17.7 million or 12.75 pence per C Share. This compares to GBP18.3 million or 13.18 pence per C Share from the December 2022 unaudited NAV.

Since 31 March 2023, the Company has returned further capital amounting to 3.5p per Ordinary Share and 3.5p per C Share.

For further information please contact:

 
SLF Realisation Fund Limited    via the Company Secretary 
  Brett Miller 
 BNP Paribas S.A.,               01481 750 853 
  Guernsey Branch                 [e-mail] 
  Company Secretary 
 Winterflood Securities Limited 
  Neil Langford 
 

* as referenced in the June 2022 Full Year Report and Accounts

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May 19, 2023 02:00 ET (06:00 GMT)