Company update - Valuation Provision

RNS Number : 2159H

FRM Credit Alpha Limited

17 June 2013

 



FRM Credit Alpha Limited (the 'Company')

Company update - Valuation Provision

At a board meeting held on June 17 2013 the Directors considered a recommendation received from the Investment Manager, FRM Investment Management Limited, on 11 June 2013, to include a provision against the value of a large investment held in the Company's portfolio.

The Directors approved the recommendation and agreed that the provision should be included in all future valuations with effect from 31 May 2013. The Directors also agreed to request the Investment Manager to review the level of the provision each month.

Based on the Net Asset Value ("NAV") of 30 April 2013 the provision represents 3.8% of the NAV. The Directors anticipate that the 31 May 2013 valuation will be completed on 20 June 2013.

The Directors noted that as the remaining positions held are all illiquid, further provisions may be required.

The Company will provide further updates when appropriate.

Enquiries:

Chris Pyper

Financial Risk Management Limited

020 7144 3682

Jane Lewis

Winterflood Investment Trusts

020 3100 0295

 

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