KKVL.L Regulatory News (KKVL)

6 August 2020

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET

ABUSE REGULATION (EU NO. 596/2014) 

KKV Secured Loan Fund Limited

Portfolio Update

The Board of KKV Secured Loan Fund Limited (the "Company") has been informed by its portfolio manager, KKV Investment Management Ltd, that, as a result of the ongoing work to refine the provisions as outlined in the announcement on 24 July 2020, it has identified concerns regarding the valuation of certain assets in the portfolios of the Ordinary and C Share Classes of the Company. 

The assets currently identified by the portfolio manager represent c. £54m of the NAV of the Ordinary Shares and c. £4m of the NAV of the C Shares, as at 30 June 2020. The portfolio manager's review of the portfolio is ongoing and it is likely that additional assets may also be affected. The Board is working with the portfolio manager and the AIFM to understand the nature of the manager's concerns, identify the full scope of the assets affected and better understand the potential impact that this may have on the respective NAV per share calculations of the Ordinary and C Shares. This work will be undertaken alongside the auditor as year-end financials are prepared and an independent valuation of these assets shall be undertaken. The Board will provide a further update as soon as possible.

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This announcement is released by KKV Secured Loan Fund Limited and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, the person responsible for releasing this announcement is Sharon Williams, Company Secretary.