Net Asset Value(s) and Dividend
Chenavari Capital Solutions Limited (the Company)
27 April 2020
Net Asset Value Per Share and Dividend Declaration
The Company announces the unaudited net asset value per share as at 31 March 2020:
Ordinary Share: GBP 0.8542*
* Please note that the value of the Spanish mortgage NPL exposure (which accounts for 59% of CCSL NAV) has not been updated for the March NAV calculation. The Manager, in accordance with the Board of Directors, believes it is too early to assess the exact effect COVID-19 has had on the underlying real estate collateral value at the end of March. The range of uncertainty for these investments is believed to be in the order of up to 25%, or up to 15% NAV.
The Investment Manager will continue to monitor these exposures closely and as more information becomes available adjust the mark accordingly.
The monthly factsheet will be published in due course.
Dividend Declaration for the Quarter ended 31 March 2020
The Company will not declare and pay a Dividend for the period 1 January 2020 to 31 March 2020.
As noted in the 30 September 2019 annual accounts, dividend levels have declined as the Company's higher income generating assets have been realised. Following the recent disposal of the UK_Corp_1 position and future uncertainty on income flows, it is unlikely that dividends will be declared in the future as it may not be viable to make any further dividend payments.
The Company will continue to make capital redemption payments as future capital becomes available.
Further information in relation to the Company is available at:
Chenavari Investment Managers
Email: [email protected]
Telephone: +44 20 7259 3600
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