Hadrian's Wall Secured Invs.Ltd Portfolio Update (6376D)
June 27 2019 - 3:30AM
UK Regulatory
TIDMHWSL TIDMHWSC
RNS Number : 6376D
Hadrian's Wall Secured Invs.Ltd
27 June 2019
27 June 2019
Hadrian's Wall Secured Investment Limited
Portfolio Update
The Board of Hadrian's Wall Secured Investments Limited (the
"Company") notes that one of the Company's borrowers is in the
process of undertaking an equity raise or company sale. Although
the Board does not anticipate this process having an adverse impact
on the ultimate repayment of the loan, which has a face value of
GBP13 million, it understands that this process may take longer
than expected, which could present the borrower with working
capital cash flow issues.
In accordance with the Investment Adviser's credit policy, this
investment has been placed on the Company's watch list. On advice
from the Investment Adviser, the Board has not established an
individual loss reserve for this loan, but as a consequence of the
downgrade has increased the IFRS 9 general loss reserve by GBP1.1
million, equating to 0.8% of the NAV per share at 31 May 2019,
which was announced on 26 June 2019.
Contact Details
Hadrian's Wall Capital Limited (Investment Adviser)
Ron Miao / Mike Schozer
Telephone 020 3026 8620
Winterflood Investment Trusts (Corporate Broker)
Joe Winkley / Neil Morgan
Telephone 020 3100 0000
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END
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