Trading Update
05 August 2008
ACP Mezzanine Limited (AIM: ACPM) ('ACP Mezzanine' or 'the Company') announces an update on activities since the change of board control occurred at ACP Capital Limited ('ACP Capital'), the parent of the Company's investment manager, on 17 July 2008.
The board of ACP Mezzanine understand that ACP Capital has confirmed its intention not to progress with the joint funding opportunity with ConPAIR AG. As a consequence, ACP Mezzanine will be unable to progress with its proposed investment in ConPAIR AG transaction.
The board of the Company therefore believe that by not progressing with the aforementioned investment the targeted annualised dividend yield for the Company of 17.5 per cent. by the end of 2008 is unlikely to be achieved.
Enquiries:
- Philip Secrett / Fraser Campbell Grant Thornton UK LLP (Nominated Adviser) +44 (0) 20 7383 5100
- Simon Atkinson / Simon Stilwell Liberum Capital Limited (Financial Adviser and Broker) +44 (0) 20 3100 2000
About ACP Mezzanine
ACP Mezzanine Limited is a Jersey-incorporated, closed ended investment company quoted on AIM. It is a provider of sub-investment grade finance to European small and mid-sized enterprises - with a primary focus on the UK, France, Germany and Italy - originating, structuring and underwriting the majority of its investments through ACP Capital Limited and ACP Capital's European network. ACP Mezzanine aims to optimise risk-adjusted returns by actively managing its portfolio and to distribute at least 85 per cent. of profits as dividends.