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 £6.3 million plus the potential for a further £0.5 million of deferred consideration to be adjusted for the completion balance sheet.
Borrower 2 repaying the fund £3.2 million plus the potential for a further £0.5 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 £10.6 million and £9.1 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 |
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