Queen's Walk Investment Limited
18 December 2007
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR
INDIRECTLY IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
Queen's Walk Investment Limited (the 'Company')
Repurchase of Own Shares
At the annual general meeting of the Company held on 3 September 2007, the
Company's shareholders approved the Company repurchasing up to a maximum of
14.99 per cent. of its issued share capital (the 'Buy Back Authority').
Following the close of the Company's tender offer on 17 December 2007, the
strike price of which was announced earlier today, the Company announces that it
intends to continue to repurchase its own shares pursuant to the Buy Back
Authority. When doing so, it will consider, on any particular day, buying back a
number of Ordinary Shares which exceeds 50% of the Company's average daily
trading volume over the prior 20 trading days.
For further information please contact:
Investor Relations:
Caroline Villiers +44 (0) 20 7153 1521
About Queen's Walk
Queen's Walk Investment Limited is a Guernsey-incorporated investment company
listed on the London Stock Exchange. The Company's investment objective is to
preserve capital and to provide stable returns to shareholders in the form of
quarterly dividends. To achieve this, Queen's Walk invests primarily in a
diversified portfolio of subordinated tranches of asset backed securities,
including the unrated 'equity' or 'first loss' residual income position
typically retained by the banks or other financial institutions which have
originated the loan assets that collateralise a securitisation transaction. The
Company makes such investments where its investment manager, Cheyne Capital
Management Limited, considers the coupon or cash flows from the investment to be
attractive relative to the credit exposure of the underlying asset collateral.
This information is provided by RNS
The company news service from the London Stock Exchange
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