30 March 2020
RDL Realisation Plc
("RDL" or the "Company")
The Company today provides the following update on its investment portfolio as of 29 February 2020. All figures are unaudited and based on management accounts.
The table below is an unaudited summary of the Company's investment portfolio and cash position as of 29 February 2020:
SME/CRE Loans Platform
Vehicle Services Contract Platform
Real Estate Loans Platform
International SME Lending Platform
Equipment Loans Platform
Cash held by RDL
Significant Events during February 2020:
The special dividend of $7 million USD declared on 9 January 2020 was paid to shareholders on 10 February 2020.
Significant Events since 29 February 2020:
Approximately $1.4 USD million cash was collected on the International SME Lending Platform as a result of ongoing restructuring and negotiations.
Also, approximately $2.2 USD million was collected on the Real Estate Loans Platform.
On Friday 13 March 2020, the United States Bankruptcy Court entered an Order confirming the Fifth Amended Chapter 11 Plan proposed by the Chapter 11 Trustee in the Princeton Alternative Income Fund bankruptcy case. The Plan was negotiated with the Trustee and other parties-in-interest in the bankruptcy case and was actively supported by RDL. The confirmed Plan provides for the distribution of cash to RDL of $13,483,500 on the Effective Date of the Plan. The Effective Date of the Plan will occur on or before 30 March 2020, pursuant to the terms of the Confirmed Plan. Upon the Effective Date of the Plan, all outstanding litigation related to the Princeton Fund will be resolved, the bankruptcy case will be closed and RDL will obtain a full release of all claims against it by the Princeton Fund, its general partner, MicroBilt and its related entities and all other investors in the Princeton fund.
For further information, please contact:
Link Company Matters Limited
Secretary +44 (0)1392 477571
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.