RDL Rdl Realisation Plc

TIDMRDL

RNS Number : 5025Z

RDL Realisation PLC

10 January 2020

10 January 2020

RDL Realisation plc (the "Company")

Princeton Update

On Thursday 9 January 2020, the US Bankruptcy Court in the Princeton Alternative Income Fund chapter 11 case approved a Disclosure Statement related to the chapter 11 Trustee's Plan. The Disclosure Statement, Plan and voting materials will shortly be sent by the Trustee to creditors and interest holders. Investors holding approximately 95% of the investment interests by amount in the Alternative Income Fund have indicated their support for the Trustee's Plan. The Bankruptcy Court denied the request by MicroBilt Corp. to approve the Disclosure Statement related to its proposed chapter 11 Plan and placed the MicroBilt Plan in abeyance until the confirmation of the Trustee's Plan is considered and ruled upon by the Court. The Bankruptcy Court set a hearing date to consider confirmation of the Trustee's Plan on 2 March 2020.

The Board believes that if the Trustee's Plan is confirmed after the next hearing, this would enable the Princeton Alternative Income Fund to exit from chapter 11 bankruptcy and that the cash within it can then be distributed to the underlying investors, including the Company. However, in light of the further delay until March and the associated legal costs of that, the Board considers it prudent to write down the estimated recovery from the Princeton Alternative Income Fund from US$15 million to US$14 million.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (EU) 596/2014.

For further information about this announcement contact:

Link Company Matters Limited

Secretary

Tel: +44 (0)1392 477 571

LEI: 549300VGZSKYQ7C2U221

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