Sign In
24 Dec 2018 07:00
24 December 2018
Hadrian's Wall Secured Investments Limited
Portfolio Update
Further to the announcement made by Hadrian's Wall Secured Investments Limited (the "Company") on 18 December, the board of the Company (the "Board") is pleased to announce that assets of Arensis Energy Ltd, Entrade Energy Ltd and Arensis Energy One Ltd (together the "Group"), which were placed into administration on 15 October 2018, were acquired out of administration by two new companies on 21 December 2018. One company has acquired the English plant and associated operations and one has acquired the Scottish plant and associated operations, with the acquisitions financed by the Company.
During the period from 15 October 2018 to 21 December 2018, interest was not being accrued on the loan and hire purchase agreement that the Company had in place with the Group. Interest accruals will recommence with effect from 21 December 2018. The Company is the first ranking secured creditor to each of the new companies, with security over all assets including, without limitation, manufacturing facilities and equipment.
As noted previously the Board, on advice from Hadrian's Wall Capital Limited, the Company's investment adviser (the "Investment Adviser"), does not consider that an individual loan loss reserve is required in respect of this investment. Further, the Investment Adviser does not anticipate any impact on the Company's ability to continue to meet the dividend target on the Ordinary Shares.
Contact Details
Hadrian's Wall Capital Limited (Investment Adviser)Ron Miao / Mike SchozerTelephone 020 3026 8620
Winterflood Investment Trusts (Corporate Broker)Joe Winkley / Neil MorganTelephone 020 3100 0000
Forward-looking statements
This press release may contain forward-looking statements with respect to the Company's future (financial) performance and position. Such statements are based on current expectations, estimates and projections of the Company and information currently available to the Company. The Company cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. The Company has no obligation to update the statements contained in this press release, unless required by law.
LEI: 213800ABN7VKMVNOLG14
Follow the stocks
