ACPM Acp Mezzanine

 

TIDMACPM 
 
RNS Number : 0902L 
ACP Mezzanine Ltd 
30 April 2010 
 

                              ACP Mezzanine Limited 
                                 Trading Update 
30 April 2010 
ACP Mezzanine Limited (the "Company" or "ACPM": AIM: ACPM) today announces its 
unaudited, indicative NAV per share as at 31 March 2010 of 9.5 eurocents (31 
December 2009: 9.5 eurocents). 
The indicative value of the portfolio, together with cash balances, as at 31 
March 2010 was as follows: 
 
+--------------------------+--------------+----------+---------------+ 
|                          | 31st March   |          | 31st December | 
|                          | 2010         |          | 2009          | 
+--------------------------+--------------+----------+---------------+ 
| Portfolio                |              |          |               | 
+--------------------------+--------------+----------+---------------+ 
|                          |    EURO '000 |          |     EURO '000 | 
+--------------------------+--------------+----------+---------------+ 
|                          |              |          |               | 
+--------------------------+--------------+----------+---------------+ 
| IFR syndicated loans     |       15,500 |          |        15,691 | 
+--------------------------+--------------+----------+---------------+ 
| Total portfolio assets   |       15,500 |          |        15,691 | 
+--------------------------+--------------+----------+---------------+ 
| Cash balance             |        6,961 |          |         5,717 | 
+--------------------------+--------------+----------+---------------+ 
 
The Company will be making a capital distribution, payable on 30 April 2010 of 
2.20 eurocents per share as announced on 8 April 2010. 
On 28 April 2010 the Company made the following announcement: 
"ACP Mezzanine Limited is pleased to announce that it has entered into an 
agreement to sell all of its holding of IFR Capital plc's ("IFR") Tranche A, 
Tranche B and Tranche C debt ("IFR Debt") for a total cash consideration of 
EUR18.4 million to Theo Müller Group Secs.  The aggregate book value (including 
accrued interest) as at 31 December 2009 of these holdings was EUR15.7 million 
(EUR0.35 million of principal was paid on 31 March 2010). The sale of the IFR Debt 
at 95 per cent. of par represents a successful outcome for the Company (a 20% 
premium over the latest published book value).  Completion of the transaction is 
expected to take place on 30 April 2010. 
In accordance with ACPM's policy of promptly returning excess cash to 
shareholders, ACPM will make a further announcement shortly regarding a 
distribution of these receipts. 
Since ACPM is now left with no portfolio investments, the Company will be making 
an announcement in due course concerning winding up ACPM's affairs." 
Indicative prices do not necessarily reflect the realisable value of such 
investments. 
The Company has no borrowings. 
 
Enquiries: 
+---------------------+--------------------------+----------------+ 
| Bruce Garrow        | Collins Stewart Europe   |    +44 (0) 207 | 
|                     | Limited  (Nominated      |       523 8350 | 
|                     | Adviser)                 |                | 
+---------------------+--------------------------+----------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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