Update on shareholder returns

RNS Number : 7196Q

Crystal Amber Fund Limited

30 June 2022

 

The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.

30 June 2022

Crystal Amber Fund Limited

(the "Company" or the "Fund")

Update on shareholder returns

The Fund previously announced, based on the Investment Manager's assessment of the status and timing of anticipated corporate transactions, that it was targeting additional shareholder returns of at least £40 million or 50 pence per Share before 30 June 2022. The payment of the 10p a share dividend to Shareholders on 9 February 2022, representing a gross return of £8.3 million, was the first shareholder return towards achieving that target.

As stated in the Company's circular to convene an EGM (extraordinary general meeting), dated 15 February 2022, the Fund, having consulted with several shareholders, determined it was no longer considered to be in the interests of the Fund to impose a fixed deadline but would retain 30 June 2022 as a target.

The Fund is pleased to provide an update on shareholder returns based on the Investment Manager's and the Board's current assessment of the status and timing of anticipated corporate transactions. Following the payment of the 10p a share dividend to shareholders in February 2022 (representing a gross return of £8.3 million), the Fund expects to return a further 10p a share (representing a gross return of £8.3 million) by mid-August 2022 and to have returned an additional 60p a share (equivalent to £50 million) by the end of September 2022. If these distributions can be achieved, this would bring total returns in the first nine months of 2022 to 80p a share (equivalent to £66.6 million).

For further enquiries please contact:

Crystal Amber Fund Limited

Chris Waldron (Chairman)

Tel: [phone]

Allenby Capital Limited - Nominated Adviser

David Worlidge/Liz Kirchner

Tel: [phone]

Winterflood Securities - Broker

Joe Winkley/Neil Langford

Tel: [phone]

Crystal Amber Advisers (UK) LLP - Investment Adviser

Richard Bernstein

Tel: [phone]

 

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