Valuation: Unfair discount with trigger for it to reduce ACD trades at a c 12% discount to NAV, wider than most peers despite a consistent, low-volatility performance and yield in excess of 4%. A 20% capital return is possible in 2013 if the discount fails to narrow sufficiently and continuation beyond December 2014 requires unanimous support from shareholders.
Financial Position and Performance The most recent estimated net asset value ("NAV") per share of the Company as at the close of business on 31 October 2012 was 101.04p per Ordinary Share. This represents an increase in the NAV per share of 3.7% (including the final dividend payment) for the 4 month period from 1 July 2012 to 31 October 2012 and 7.6% calendar year-to-date. At 31 October 2012 the Company had net cash of £6.6 million, excluding unrealised FX gains of £1.5 million and outstanding uncalled capital commitments of £0.5 million Dividend An interim dividend of 1.73p per share was paid on 28 September 2012. This represents an annualised dividend yield of 4.2% based on the closing share price of 83.25p as at 13 November 2012.
15 Nov '12
Interim Management Statement 15 November 2012 AcenciA Debt Strategies ("AcenciA" or the "Company"), an investment company listed on the LSE investing in distressed debt, announces its interim management statement for the period from 1 July 2012 to 14 November 2012. It has been produced for the sole purpose of providing information to the Company's Shareholders in accordance with the requirements of Directive 2004/109/EC (the Transparency Directive). It should not be relied upon for any other purpose. Material Events and Transactions during the Period There have been no material events or transactions since 1 July 2012 except for those already announced to the market. There has been no material change in the business of the Company's operations. The Company's investment objectives, as set out in the prospectus dated 31 January 2007, and the nature of investments which were acquired by the Company in order to achieve the investment objectives have not changed materially.
LONDON (Dow Jones)--AcenciA Debt Strategies Ltd. (ACD.LN) said Friday that at the close of business on May 28 its estimated net asset value per share was 95.51 pence, a decrease of 0.8% on the NAV at April 30. MAIN FACTS: -Shares at 1115 GMT up 0.5 pence, or 0.7%, at 74 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; firstname.lastname@example.org (END) Dow Jones Newswires June 11, 2010 07:20 ET (11:20 GMT)
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