Reconstruction Capital II Ltd Net Asset Value and Portfolio Update (0547F)
May 17 2013 - 11:31AM
UK Regulatory
TIDMRC2
RNS Number : 0547F
Reconstruction Capital II Ltd
17 May 2013
17 May 2013
Reconstruction Capital II Limited
("RC2" or the "Company")
Net Asset Value and Portfolio Update
Net Asset Value
The Company announces that at close of business on 30 April 2013
its unaudited net asset value ("NAV") per share was EUR0.5959.
Monthly report
A monthly report which details the activities of the Company for
the month ended 30 April 2013 has been released by the investment
manager and investment advisers of the Company. Copies of the
report have been emailed to shareholders and will also be
available, free of charge from the offices of New Europe Capital
Limited, 33 Marloes Road, London W8 6LG, United Kingdom (tel: +44
(20) 7244 0088), for a period of 30 days from the date of this
announcement.
The report is also available on the Company's website:
http://www.reconstructioncapital2.com/investment-reports.html/
Quarterly report
A quarterly report which details the activities of the Company
for the quarter ended 31 March 2013 has been released by the
investment manager and investment advisers of the Company. Copies
of the report have been emailed to shareholders and will also be
available, free of charge from the offices of New Europe Capital
Limited, 33 Marloes Road, London W8 6LG, United Kingdom (tel: +44
(20) 7244 0088), for a period of 30 days from the date of this
announcement.
The report is also available on the Company's website:
http://www.reconstructioncapital2.com/investment-reports.html/
New East Point Holdings Limited valuation
The Company announces that due to a deterioration in the
operating performance of East Point Holdings Limited ("EPH" or the
"Group"), its 63%-owned affiliate, over the first quarter of 2013,
the Directors have requested a new independent valuation of this
investment, which takes into account the recent trading performance
in light of the overall financial condition of the Group. Because
the investment in EPH represents 32.4% of the net asset value of
the Company as at 30 April 2013, the Directors consider that the
result of the new independent valuation exercise will have a
material impact on the Company's net asset value. More information
on the recent performance of EPH is included in RC2's quarterly
report which has been released by the investment manager and
investment advisers. The Directors intend to announce the result of
the new independent valuation report as soon it is available.
For further information, please contact:
Reconstruction Capital II Limited
Ion Florescu / Anca Moraru
Tel: +44 (0) 207 244 0088/ +40 21 3167680
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / David Hignell
Tel: +44 (0) 20 7383 5100
LCF Edmond de Rothschild Securities (Broker)
Hiroshi Funaki
Tel: +44 (0) 20 7845 5960
This information is provided by RNS
The company news service from the London Stock Exchange
END
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