TIDMRDL

RNS Number : 0848I

RDL Realisation PLC

30 March 2020

30 March 2020

   RDL  Realisation   Plc

("RDL" or the "Company")

Portfolio Update

The Company today provides the following update on its investment portfolio as of 29 February 2020.

All figures   are unaudited and based on  management accounts.

The table below is an unaudited summary of the Company's investment portfolio and cash position as of 29 February 2020:

 
     Platform                             29/02/2020            31/01/2020 
                                         (USD million )        (USD million) 
 
     SME/CRE Loans Platform                  $5.1                  $5.2 
     Vehicle Services Contract 
      Platform                                $0.2                 $0.2 
     Real Estate Loans Platform             $11.7                 $11.7 
     Princeton                              $13.5                 $13.5 
     International SME Lending 
      Platform                               $2.5                  $2.5 
     Equipment Loans Platform                $0.2                  $0.2 
 
     Portfolio Total                        $33.2                 $33.3 
 
     Cash held by RDL                        $8.7                     $15.7 
 
     Grand Total                            $41.9                     $49.0

Significant Events during February 2020:

The special dividend of $7 million USD declared on 9 January 2020 was paid to shareholders on 10 February 2020.

Significant Events since 29 February 2020:

Approximately $1.4 USD million cash was collected on the International SME Lending Platform as a result of ongoing restructuring and negotiations.

Also, approximately $2.2 USD million was collected on the Real Estate Loans Platform.

Princeton Updates:

On Friday 13 March 2020, the United States Bankruptcy Court entered an Order confirming the Fifth Amended Chapter 11 Plan proposed by the Chapter 11 Trustee in the Princeton Alternative Income Fund bankruptcy case. The Plan was negotiated with the Trustee and other parties-in-interest in the bankruptcy case and was actively supported by RDL. The confirmed Plan provides for the distribution of cash to RDL of $13,483,500 on the Effective Date of the Plan. The Effective Date of the Plan will occur on or before 30 March 2020, pursuant to the terms of the Confirmed Plan. Upon the Effective Date of the Plan, all outstanding litigation related to the Princeton Fund will be resolved, the bankruptcy case will be closed and RDL will obtain a full release of all claims against it by the Princeton Fund, its general partner, MicroBilt and its related entities and all other investors in the Princeton fund.

   For  further   information,  please  contact: 
   Link   Company  Matters  Limited 
   Secretary                                        +44   (0)1392   477571

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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March 30, 2020 09:02 ET (13:02 GMT)

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