Business
Quarterly Net Asset Value Upd
Quarterly Net Asset Value Upd.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n RNS Number : 7132H Greenwich Loan Income Fund Ltd 26 February 2010 \n \n\nGreenwich Loan Income Fund Limited (\"GLIF\" or the \"Company\")\n \nQuarterly Net Asset Value Update\n \n26 February 2010\n \nThe Company announces that as at 31 December 2009, its preliminary unaudited net asset value (NAV) per share was £0.70 on a consolidated basis. The decrease in NAV, compared to the NAV of £1.31 per share as at 30 September 2009, was due primarily to the issuance of additional shares in October 2009, as well as mark-ups of the CLO notes in excess of mark-ups on the portfolio investments. \n \nAs has been previously reported, the Company carries its investments and liabilities at fair value, which for financial reporting purposes under International Financial Reporting Standards (IFRS) has resulted in an overall increase in NAV, on a cumulative basis from inception through 31 December 2009, due to the comparatively greater decline in the fair value of the CLO loan notes than the portfolio investments. Shareholders should be aware that the Company's realization of the full incremental value suggested by the markdowns on the CLO loan notes is almost certain to prove to be unattainable and should consider evaluating the NAV reported under IFRS accordingly.\n \nIt should also be noted that the year-end audit is still in progress, and the results of operations and NAV are subject to possible adjustment. The Company expects to file their accounts for the year ended 31 December 2009 by 31 March 2010.\n \n \n \nContacts:\n \nGeoffrey Miller\nGreenwich Loan Income Fund Limited\n+353 1 4433 466\n \nPatrick Conroy\nGreenwich Loan Income Fund Limited\n+1 203 983 5282\n \nPhilip Secrett\nNominated Adviser\nGrant Thornton Corporate Finance\n+44 207 383 5100\n \nJos Trusted\nSinger Capital Markets Limited \n+44 (0) 20 3205 7622\n \nEd Gascoigne Pees\nFinancial Dynamics\n+44 (0) 207 269 7132\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END NAVKKPDBOBKDKBB \n ","length":3896,"tagName":"div"}]