Trading Update
30 January 2009
ACP Mezzanine Limited (the "Company": AIM: ACPM) today announces its unaudited NAV per share as at 31 December 2008 of 32.4 eurocents (30 September 2008: 54.5 eurocents).
For the purposes of calculating this NAV per share, certain assets have been valued on the basis of an average of indicative prices received from market sources. Indicative prices do not necessarily reflect the realisable value of such investments.
Significant events since the 30 September 2008 trading update are:
- A cash distribution of 10.65 eurocents per share was paid to shareholders on 19 December 2008;
- The sale on 15 January 2009 of an investment in GCI Automotive Holding GmbH for €3.27 million, including accrued interest (cost €3 million); and
- The continued deterioration in indicative pricing for structured products.
The Company has no borrowings.
The Company's Board of Directors has today approved a cash distribution of 1.5 eurocents per share, which will be made to record holders as at 13 February 2009 on 3 March 2009.
The Company intends to release its full year results and audited financial statements in the week commencing 23 March 2009.
Enquiries
- Hugh Field, Collins Stewart Europe, +44 (0) 207 523 8350 (Nominated Adviser)
- Tim McCall/James Longfield, Hogarth Partnership, +44 (0) 207 357 9477