We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Trio Fin | LSE:TRIO | London | Ordinary Share | GG00B1RB3W57 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 4.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TRIO Finance Limited ("TRIO") Sale of European B Loan portfolio for cash raises US$44.3m TRIO announces that it has entered into a binding agreement to sell its entire Portfolio of European B Loans at a price of 100% of the respective principal amounts outstanding. Completion of the transaction, which is carried out through its TREAL affiliate, is scheduled for 11 August 2008. The net proceeds of the sale, after transaction fees and legal costs, are estimated at US$44.3m which will be available to TRIO immediately upon completion. Together with existing cash resources TRIO will have approximately US$51m in unencumbered cash and cash equivalents equating to approximately US$6.38 per share. The net asset value per share published with the most recent 6 month financial statements was US$3.86. TRIO has previously returned to shareholders US$24.6m in ordinary and special dividends. TRIO floated on the LSE on 5th June 2006 raising US$100m. The transaction is in line with the Company's policy of de-risking its positions and raising its liquidity and eliminates TRIO's exposure to downside on any of its investments. Its other positions - an investment in Lions Hill Limited and three residual income positions - are already carried at zero in its books following impairment charges in previous periods. The Company's Board will meet to consider options for the use of the cash raised through this transaction, on recommendations from Wharton. Although there may be potential opportunities for re-investment of the cash should the market stabilise, the Company has a stated policy of returning excess cash to shareholders. It is anticipated that a decision will be made by the Company's year end, 30th September 2008. Enquiries: Kleinwort Benson (Channel Islands) Fund Services Limited Company Secretary Tel: 01481 727111 or Simon Rostron Rostron Parry & Co Tel: 020 7490 8062 END
1 Year Trio Finance Chart |
1 Month Trio Finance Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions