Eurocastle Announces Positive Resolution On Legacy Debt Claim
11 Diciembre 2020 - 1:00AM
UK Regulatory
TIDMECT
Contact:
Oak Fund Services (Guernsey) Limited
Company Administrator
Attn: Mark Woodall
Tel: +44 1481 723450
Eurocastle Announces Positive Resolution on Legacy Debt Claim
Guernsey, 11 December 2020 - Eurocastle Investment Limited (the
"Company" or "Eurocastle") is pleased to announce the positive
resolution of a claim relating to its legacy debt business. Given the
uncertainty ascribed to the outcome of the claim, the Company did not
attribute any value in its accounts other than reserving for its share
of the associated costs. The Company estimates that its share of the
agreed settlement after expenses is approximately EUR2.2 million which
is expected to be received prior to 31 December 2020. Taking into
account costs previously reserved for, the estimated net positive impact
to Eurocastle's Adjusted Net Asset Value is EUR2.3 million, or EUR1.22
per share.
ADDITIONAL INFORMATION
For investment portfolio information, please refer to the Company's most
recent Financial Report, which is available on the Company's website (
https://www.globenewswire.com/Tracker?data=f7d-OZGPCBFkIXqPQ8Yxubs9-lU0YzGXM_yFlSCQVoUX9MzFVX0ie0thmSw585GRXS5dyEPGZfqkKutPVIdQWVb18EGSXPWmUiWVWCWe364=
www.eurocastleinv.com).
ABOUT EUROCASTLE
Eurocastle Investment Limited ("Eurocastle" or the "Company") is a
publicly traded closed-ended investment company, focused on Italian
performing and non-performing loans, Italian loan servicing platforms
and other real estate related assets in Italy. On 18 November 2019, the
Company announced a plan to realise the majority of its assets with the
aim of accelerating the return of value to shareholders. The Company
will not currently seek material new investments from the proceeds of
the realisation but, will continue to support its existing investments
to the extent required in order to optimise returns and distribute cash
to shareholders when available (the "Realisation Plan"). For more
information regarding Eurocastle Investment Limited and to be added to
our email distribution list, please visit
https://www.globenewswire.com/Tracker?data=f7d-OZGPCBFkIXqPQ8Yxubs9-lU0YzGXM_yFlSCQVoWCUaY1P3Xz1BNYu1HrLgVHgYGhMJD_D0ezKDb7LjbQouSrzb1PyQAVHqmd2RolKoU=
www.eurocastleinv.com.
.
(END) Dow Jones Newswires
December 11, 2020 02:00 ET (07:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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