Portfolio Update

RNS Number : 1640R

Alternative Liquidity Fund Limited

19 September 2017

 

RNS Announcement

19 September 2017

ALTERNATIVE LIQUIDITY FUND LIMITED

(a closed-ended investment company incorporated in Guernsey with registration number 60552)

PORTFOLIO UPDATE

Alternative Liquidity Fund Limited (the "Company") is pleased to announce that it has been advised by the administrator of 3D Propco Limited ("the Fund") that the Fund has sold its underlying asset, the Bintan Lagoon Resort ("BLR") in Indonesia.  As a result, the Company has received a distribution of US$5.15 million against the Company's carrying valuation of US$4.8 million.

We would note however that the most recent Fund-quoted net asset value of the Company's position in the Fund was US$9.6 million and that the Company has been extremely disappointed thus far with the lack of transparency and information provided by the Fund with respect to the sale of BLR. The Company will continue to seek further clarification regarding Fund operations, key details of the sale and the potential for any further distributions to ensure that investor interests have been treated appropriately.

The Directors of the Company intend to make arrangements for a return of surplus capital to shareholders as soon as practicable and a further announcement will be made in due course. 

All Enquiries

Tim Gardner
Tel. [phone]
Email. [e-mail]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.

 

END

 

 

PFULLFFIADIALID