Ukraine Opp Trust UKRO Update


 
TIDMUKRO 
 
26 February 2015 
 
          The Ukraine Opportunity Trust PLC ("UKRO" or the "Company") 
 
                                    Update 
 
The Board announces that due to the continued political and economic 
uncertainty in Ukraine, it is reviewing, in conjunction with FPP, the valuation 
of the Company's unquoted holdings in trading entities. Whilst these have 
continued to trade satisfactorily, the valuation of these holdings is not based 
on market prices, but on a discount to EBITDA multiples derived from publicly 
traded comparable companies. The Board considers it may now be appropriate to 
increase the risk adjustment discount applied to the Company's private equity 
investments to 60%, from its current level of 30%. In addition, the Board is 
reviewing the current cost base of the Company in order to ensure maximum 
returns to shareholders, and intends to minimise costs so far as possible. It 
is intended that at the time of the final results, Board numbers will be 
reduced and a thorough review of all other costs conducted. Further information 
in relation to the above will be announced when appropriate. 
 
The Board is currently in discussions with FPP on the most appropriate 
investment policy to follow on an on-going basis, in light of the prevailing 
economic conditions in Ukraine. 
 
Enquires: 
 
FPP Asset Management LLP 020 7647 9100 
Chris Edwards 
 
finnCap Ltd 020 7220 0500 
Stuart Andrews / Grant Bergman 
 
 
 
END

Ukraine Opportunity Trust (LSE:UKRO)
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