Portfolio Manager Update

RNS Number : 8400P

KKV Secured Loan Fund Limited

21 October 2021

 

21 October 2021

KKV Secured Loan Fund Limited

(the "Company")

LEI: 2138007S3YRY3IUU4W39

Portfolio Manager Update

The Board of KKV Secured Loan Fund Limited (the "Company") announced on 5 July 2021 that the previously advised temporary leave of absence granted by  KKV Investment Management Ltd (the "Portfolio Manager") to Dawn Kendall, Chief Investment Officer, had been extended.

The Portfolio Manager has informed the Board that Dawn's leave of absence has been further extended and at this current time it is not clear to the Board if Dawn will be able to return in the near term.

The investment team, assisted by Brett Miller, Director, has continued to deliver on the Company's asset realisation programme with a total of £60 million having been returned to shareholders since 11 May 2021 (the date of the announcement of Dawn's leave of absence). The team continues to progress asset disposals opportunities while working with borrowers to maximise recovery and returns, and the Board is of the view that the Company's managed wind-down has not been materially impacted by Dawn's absence.

As announced on 20 August 2021, the Company's Investment Management Agreement with the Portfolio Manager will terminate on 31 December 2021. The Board has been giving consideration to the ongoing management and wind-down of the portfolio with effect from 1 January 2022 and a further announcement is expected to be made in due course.  

For further information please contact: 

KKV Secured Loan Fund Limited	Brett Miller via the Company Secretary
KKV Investment Management Ltd	[e-mail]
BNP Paribas Securities Services S.C.A., Guernsey Branch Company Secretary	01481 750 853
Winterflood Securities Limited Neil Langford Chris Mills	020 3100 0000

 

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