SLF Realisation Fund Limited Asset Realisations (3063U)

TIDMSLFR

RNS Number : 3063U

SLF Realisation Fund Limited

27 March 2023

SLF Realisation Fund Limited

(the "Company")

LEI: 2138007S3YRY3IUU4W39

Asset Realisations

The Board of the Company is pleased to announce that within the Ordinary Share Class portfolio, Borrowers 1* & 2*, two anaerobic digestions plants located in Teesside have refinanced. The positions were restructured and sold.

Borrower 1 repaying the fund GBP6.3 million plus the potential for a further GBP0.5 million of deferred consideration to be adjusted for the completion balance sheet.

Borrower 2 repaying the fund GBP3.2 million plus the potential for a further GBP0.5 million of deferred consideration again to be adjusted for the completion balance sheet.

A further additional consideration is payable should the plant achieve high output levels under the new owners over the coming 24 months, though this appears unlikely at present.

They had a carrying values of GBP10.6 million and GBP9.1 million respectively as at 30 June 2022. The reduction in value reflects significant shortcomings uncovered during due diligence and the failure of the plants to effectively increase output since June 2022.

*by reference to the half-yearly financial report to 30 June 2022.

For further information please contact:

 
SLF Realisation Fund Limited        Brett Miller via the Company 
                                     Secretary 
BNP Paribas S.A., Guernsey Branch 
 Company Secretary                  01481 750 853 
Winterflood Securities Limited 
 Neil Langford                      020 3100 0000 
 

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 [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCPPUMWWUPWURM

(END) Dow Jones Newswires

March 27, 2023 04:40 ET (08:40 GMT)