Castelnau Group Limited Portfolio Update (9603X)
27 Diciembre 2023 - 6:41AM
UK Regulatory
TIDMCGL
RNS Number : 9603X
Castelnau Group Limited
27 December 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY RESTRICTED JURISDICTION WHERE TO DO SO
WOULD CONSTITUTE VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF
SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
FOR IMMEDIATE RELEASE.
27 December 2023
CASTELNAU GROUP LIMITED
(a closed-ended investment company incorporated in Guernsey with registration number 67529)
("Castelnau" or the "Company")
LEI Number: 213800PED8RFUBMK1T64
Portfolio Update
The Company notes the public statements released by Stanley
Gibbons Ltd ("SG") and A.H. Baldwins & Sons Ltd ("AHB") that SG
and AHB have, on Friday 22 December 2023, filed a notice of
appointment of an administrator. The Company has an interest in SG
and AHB through its ownership of Phoenix S.G. Ltd ("Phoenix SG")
which at 30 November 2023 comprised 7.8% of its portfolio (9.8% of
NAV). The administration will be conducted as a pre-pack and for
the avoidance of doubt, Phoenix SG will be the resultant owner
through a wholly owned subsidiary, PSG Holdco 1 Limited. The impact
of the notice will be reflected in a reduction in the valuation of
the Phoenix SG holding at 31 December 2023. Each of the Castelnau
portfolio companies are subject to re-valuation at 31 December 2023
and, notwithstanding this reduction in value of Phoenix SG, the
Company is not anticipating an overall reduction in net asset value
per share. Phoenix SG will continue to support the SG and AHB
businesses going forward, which we believe have an exciting growth
strategy.
Enquiries
Castelnau Group
info@castelnaugroup.com
Liberum Capital Limited
+44 (0) 20 3100 2000
Darren Vickers
Owen Matthews
Will King
Citigate Dewe Rogerson
+44 (0) 20 7638 9571
Caroline Merrell
Toby Moore
Notes to Editors
Castelnau Group Limited ("CGL") is a Guernsey closed-ended
company listed on the Specialist Fund Segment of the London Stock
Exchange. Formed by Phoenix Asset Management Partners Limited in
2020, its listed structure provides the manager with a permanent
capital vehicle with which to make long-term investments and
acquisitions in public and private businesses of all structures and
sizes. It's investment philosophy involves acquiring large stakes
in, and capital to, businesses that have, or can create, strong
competitive advantages. Castelnau Group's portfolio comprises
investments in Valderrama (Dignity), Hornby Plc, Stanley Gibbons
Group, Showpiece Technologies Limited, Silverwood Brands plc and
The Cambium Group, as well as in two `enabling' businesses, Rawnet
Limited and Ocula Technologies Limited.
Phoenix Asset Management Partners Limited is the Investment
Manager to Castelnau. PAMP has been investing in UK listed equities
for 25 years using a long-term, business-focused approach. Its
investment process aims to identify great businesses through
intensive primary research for which it is well known and can often
last many years before choosing to make an investment. Once an
investment is made, the investment team maintains this intensive
approach to research through in-depth monitoring of the businesses
and the markets in which they operate.
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END
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December 27, 2023 07:41 ET (12:41 GMT)
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