EET Euro Equity

 

TIDMEET 
 
RNS Number : 1019O 
European Equity Tranche Income Ltd. 
02 March 2009 
 

 
 
 
 
EUROPEAN EQUITY TRANCHE INCOME LIMITED ("the Company") 
 
 
ESTIMATED NET ASSET VALUE OF A SHARE 
 
 
The estimated Net Asset Value ("NAV") of an Ordinary Share of no par value each 
in the Company as at 31 December 2008 is calculated as being EUR 0.3023. 
 
 
As at the above date the Company's investment portfolio was valued at EUR 55.941 
million and there was EUR 30.445 million of debt owed by the Company. Total net 
assets were EUR 29.631 million and there were 98 million Ordinary Shares in issue. 
 
 
As announced by the Company on 5 February 2009, at the Extraordinary General 
Meeting held that day, shareholders approved the capital restructuring of the 
Company, which included, inter alia, the issue of 927 million Ordinary Shares at 
a discount to NAV, the reduction of debt owed by the Company to Scribona Nordic 
AB ("Scribona") and the consolidation of every 100 Ordinary Shares of no par 
value into one Consolidated Share of no par value. 
 
 
Following the capital restructuring there is EUR 5.7 million of debt owed by the 
Company to Scribona. Following the consolidation, which became effective on 16 
February 2009, the Company has 10.25 million Ordinary Shares in issue. 
 
 
If the net assets as at 31 December 2008 were adjusted to reflect the above 
capital restructuring and consolidation, with all other variables held constant, 
net assets as at that date would be EUR 55.118 million, representing an NAV of EUR 
5.3773 per Ordinary Share. 
 
 
This estimated NAV of a Share is provided for indication purposes only and 
should not be relied upon for investment decisions.  As some of the Company's 
assets are not freely traded it is not possible to obtain prices from an 
independent third party source and such assets have been valued by the 
Investment Manager using pricing models designed by the Investment Manager and 
reviewed by the Company's auditor. 
 
 
The above estimated NAV of a Share has been calculated by the Administrator 
using asset valuation information provided by the Investment Manager which, 
whilst being considered as received from a reliable source, is itself in part 
'estimated' and accordingly none of the Company, the Investment Manager, the 
auditor nor the Administrator accept any responsibility for the accuracy of the 
estimated NAV figure given, and neither is any responsibility implied. 
 
 
For further information contact: 
 
 
Alastair Moreton 
Arbuthnot Securities Limited 
Nominated Adviser 
Tel: 020 7012 2000 
 
 
Anson Fund Managers Limited 
Secretary 
Tel: Guernsey 01481 722260 
 
 
2 March 2009 
 
 
E&OE - in transmission 
 
 
END OF ANNOUNCEMENT 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 NAVUUUPAWUPBURP 
 

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