Business
Company update - Valuation Provision
Company update - Valuation Provision.
About this update from Cavendish Plc
[{"type":"text","content":"\n \nRNS Number : 2159H FRM Credit Alpha Limited 17 June 2013 \n \n\nFRM Credit Alpha Limited (the 'Company')\nCompany update - Valuation Provision\nAt a board meeting held on June 17 2013 the Directors considered a recommendation received from the Investment Manager, FRM Investment Management Limited, on 11 June 2013, to include a provision against the value of a large investment held in the Company's portfolio.\nThe Directors approved the recommendation and agreed that the provision should be included in all future valuations with effect from 31 May 2013. The Directors also agreed to request the Investment Manager to review the level of the provision each month.\nBased on the Net Asset Value (\"NAV\") of 30 April 2013 the provision represents 3.8% of the NAV. The Directors anticipate that the 31 May 2013 valuation will be completed on 20 June 2013.\nThe Directors noted that as the remaining positions held are all illiquid, further provisions may be required.\nThe Company will provide further updates when appropriate.\n \nEnquiries:\n \nChris Pyper\nFinancial Risk Management Limited \n020 7144 3682\n \nJane Lewis \nWinterflood Investment Trusts \n020 3100 0295\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCBXGDLXUBBGXR\n ","length":2191,"tagName":"div"}]