47UI Sigma Fin.1.00%

    RNS Number : 3248F
  Sigma Finance Corporation
  07 October 2008
   

    For Immediate Release

    7th October 2008

    TO ALL INVESTORS

    COMPANY ANNOUNCEMENT

    SIGMA FINANCE CORPORATION (IN RECEIVERSHIP)
    SIGMA FINANCE, INC. 

    Appointment of Receivers

    Alan Robert Bloom, Margaret Elizabeth Mills and Stephen John Harris (the "Receivers") were appointed Receivers and Managers of Sigma
Finance Corporation (the "Company") on 6 October 2008. The Company is an investment company incorporated under the laws of the Cayman
Islands with registered number 53258. The Company has issued notes under its US$10,000,000,000 Euro Medium-Term Note Programme and has
guaranteed notes issued by Sigma Finance, Inc. under its US$50,000,000,000 Medium-Term Note Programme. Sigma Finance, Inc. is not in
receivership.

    On 2 October 2008, Deutsche Trustee Company Limited (the "Security Trustee") received notice from a Liquidity Provider notifying the
Security Trustee of an Event of Default under the relevant Liquidity Facility and directing the Security Trustee, pursuant to Clause 6.11 of
the Security Trust Deed, to enforce the security constituted under the Security Trust Deed. Such notice constitutes an Enforcement Event
under the Security Trust Deed and the Enforcement Date therefore occurred on 2 October 2008. The Security Trustee is entitled to appoint a
Receiver under the Security Trust Deed on or after the Enforcement Date. The appointment of the Receivers was duly made by the Security
Trustee.

    Once the Receivers have reviewed the situation they will provide more detail in respect of the timetable for the Company to provide
further information on the immediate strategy.  

    The Receivers act as agents of the Company at all times and without personal liability.

    Contacts:
    Ernst & Young LLP
    1 More London Place
    London, SE1 2A
    Attention: Alan Robert Bloom, Margaret Elizabeth Mills and Stephen John Harris


    Message ends.

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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