AcenciA Debt Strategies Limited Annual Financial Report (9863B)
10 Abril 2017 - 1:00AM
UK Regulatory
TIDMACD
RNS Number : 9863B
AcenciA Debt Strategies Limited
10 April 2017
ACENCIA DEBT STRATEGIES LIMITED
(The "Company")
(Registered in Guernsey - Number 43787)
Registered Office:
Sarnia House, Le Truchot,
St Peter Port, Guernsey, GY1 1GR
Telephone: +44 1481 737600
Facsimile: +44 1481 749810
For immediate 10 April 2017
release
-------------- --------------
Full Year Results for the year ended 31 December 2016
AcenciA Debt Strategies Ltd ("AcenciA" or the "Company"), the
closed-ended investment company listed on the London Stock
Exchange, which invests in a highly focused portfolio of
multi-strategy credit and event-driven funds, with a focus on
distressed debt, today announces its audited results for the year
ended 31 December 2016.
Highlights
-- Net asset value ("NAV") per share at 31 December 2016
increased by 3.58% to $1.62 and the share price by 2.61% to $1.46
(taking account of dividends paid in both cases)
-- A final dividend of 2.84 cents was declared, representing an
annualised dividend yield of 3.8% based on the closing share price
of the Company of $1.46 on 30 December 2016.
William Scott, Chairman of AcenciA, said;
"I am pleased to say that the strong performance from February
2016 has continued into 2017. The latest available published NAV
per Ordinary Share shows a further rise in January 2017 of 1.79%,
taking the trailing 12-month return to just under 12%. After a long
period of exceptionally loose monetary policy following the 2008
crisis, we are beginning to see the early stages of normalisation
of interest rates led, as usual, by the US which provides our
principal opportunity set. Looking back at my review last year, I
noted that our underlying managers regarded the then current market
situation as being the most bullish for 5 years, starting from the
back of a brutal market decline and developing into a classic debt
restructuring environment in which they traditionally thrive. That
transition to a more normal environment will present opportunities
for skilled managers to differentiate themselves from their peers.
The Board therefore looks forward with confidence to rates of
return commensurate with the opportunity.
An Extraordinary General Meeting ("EGM") will be called in
September at which a winding up resolution will be proposed which
has a weighted voting mechanism such that 25% or more of the votes
being cast in favour will be sufficient to carry the day. Whatever
the outcome, those shareholders who wish to realise their
investment will be able to do so either through the liquidation of
the Company (if the resolution is passed) or by means of a tender
offer (if not). In the near future, the Board and the Manager
intend to consult with shareholders to gauge if there is sufficient
appetite for a vehicle to permit those shareholders who wish to
maintain their exposure to do so."
For further information, please contact:
Saltus Partners LLP, Jon Macintosh
+ 44 20 7408 7765
Canaccord Genuity Limited, David Yovichic
+44 20 7523 8361
Kepler Partners LLP, Hugh van Cutsem
+44 20 3384 8796
Click on or paste the link below to your web browser, to view
the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/9863B_-2017-4-7.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR UBANRBKASRAR
(END) Dow Jones Newswires
April 10, 2017 02:00 ET (06:00 GMT)
Acencia (LSE:ACD)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Acencia (LSE:ACD)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024