Net Asset Value(s) Adjustment to basis of calculation of daily navs
19 Diciembre 2005 - 5:29AM
UK Regulatory
To: Stock Exchange For immediate release
19 December 2005
PREMIUM TRUST plc
Adjustment to basis of calculation of daily net asset values
Further to the announcement of 5 October, the Board has received representations
from a number of major shareholders and would like to make the following points
by way of clarification:
* The Board has received confirmation of the earlier advice that the costs of
any reconstruction or winding-up of the company should, in terms of the
Statement of Recommended Practice for Financial Statements of Investment Trust
Companies issued in January 2003, be charged against revenue;
* The illustrative cost of �500,000 in the earlier announcement was an
estimate of the maximum gross cost of any reconstruction. The Board recognises
that a straightforward winding-up and liquidation would cost significantly less
than this, and that the costs of a more complicated reorganisation would be
defrayed, in whole or in part, by any successor vehicle and/or the advisers to
such vehicle.
Therefore, with effect from 20 December 2005, Premium Trust will revert to
releasing on a daily basis:
* NAVs calculated on a going concern basis with debt valued at par; and
* NAVs calculated on a going concern basis with debt valued at market.
That part of the companys NAV comprised of the revenue reserve will continue to
be excluded from the unit NAV.
-ends-
For further information, please contact:
Michael Woodward
Martin Currie Investment Management Ltd 0131 229 5252
mwoodward@martincurrie.com
Premium Trust (LSE:PTTI)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Premium Trust (LSE:PTTI)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
Real-Time news about Premium Tst Inc (London Stock Exchange): 0 recent articles
Más de Premium Trust Plc Artículos de Noticias