TruFin And Distribution Finance Note Arrowgrass Master Fund Closure

(Alliance News) - TruFin PLC on Friday noted Arrowgrass Capital Partners LP's decision to close the Arrowgrass Master Fund Ltd.

The master fund is a substantial shareholder in TruFin, an operating company which aims to grow financial technology and banking businesses.

The closure "will in due course entail the divestment of the investment positions" which are held in the master fund. The process of divestment is to be "orderly and focused on obtaining appropriate value for its investors over time".

TruFin's board are "regular contact" with Arrowgrass Capital Partners and have pledged to update shareholders "as appropriate".

Distribution Finance Capital Holdings PLC, in which Arrowgrass Master Fund is also a substantial shareholder, likewise noted the closure and said it also will provide shareholder updates when appropriate.

Shares in TruFin were down 2.3% at 63.00 pence in London on Friday afternoon, while Distribution Finance Capital shares were untraded, last closing at 126.10p.