TIDMCRV

RNS Number : 0486K

Craven House Capital PLC

16 September 2016

16th September 2016

Craven House Capital Plc

("Craven House" or the "Company")

Acquisition of Loan Portfolio

The Company today announces that it has completed the acquisition of a portfolio of non-performing loans from a major South African bank for a total consideration of ZAR 20,000,000 (twenty million South African Rand).

The loans have been acquired a discount to their face value and are secured, in a senior position, against a portfolio of real estate assets in South Africa. The Company is bound by confidentiality requirements to not disclose further details of the transaction at this stage.

Mark Pajak, Acting Chairman, commented: "We are very pleased to have negotiated the acquisition of this loan portfolio at a discount to its face value. The underlying assets offer significant security in excess of the face value and the investment is in line with core elements of our strategy; to seek out distressed assets and complicated restructuring opportunities in our target markets. The transaction demonstrates our ability and desire to invest at all levels of the capital structure in order to generate optimal risk adjusted returns.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information please contact:

 
 Craven House Capital Plc          Tel: 020 7002 1027 
  Mark Pajak 
  www.Cravenhousecapital.com 
 SPARK Advisory Partners           Tel: 020 3368 
  Limited                            3550 
  Nominated Adviser 
  Matt Davis/Mark Brady 
  www.sparkadvisorypartners.com 
 
 SI Capital                       Tel: 01483 413500 
  Broker 
  Nick Emerson 
  www.sicapital.co.uk

About Craven House Capital

Craven House Capital is a frontier and emerging market focused merchant bank seeking value oriented long term investments. Craven House invests in all segments of the capital structure in partnership with local entrepreneurs and the local business community. Craven House provides long term patient capital and is often involved in restructuring, expansion and turn around investments in crisis and transitioning economies.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 16, 2016 03:32 ET (07:32 GMT)

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