4 May 2020 11:21
4 May 2020
RDL Realisation Plc
("RDL" or the "Company")
Portfolio Update
The Company today provides the following update on its investment portfolio as of 31 March 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 31 March 2020:
Platform | 31/03/2020 (USD million) | 29/02/2020 (USD million) |
|
|
|
SME/CRE Loans Platform | $5.1 | $5.1 |
Vehicle Services Contract Platform | $0.2 | $0.2 |
Real Estate Loans Platform | $9.0 | $11.7 |
Princeton | $13.5 | $13.5 |
International SME Lending Platform | $1.6 | $2.5 |
Equipment Loans Platform | $0.1 | $0.2 |
|
|
|
Portfolio Total | $29.5 | $33.2 |
|
|
|
Cash held by RDL | $12.6 | $8.7 |
|
|
|
Grand Total | $42.1 | $41.9 |
Significant Events during March 2020:
Approximately $2.7 USD million was collected on the Real Estate Loans Platform.
Approximately $1.4 USD million cash was collected on the International SME Lending Platform as a result of ongoing restructuring and negotiations. This included a recovery of a previously charged off amount of approximately $500,000 USD.
Significant Events since 31 March 2020:
The final Princeton settlement distribution to RDL of $13,483,500 USD was received on 2 April 2020.
On 7 April, the directors declared a further dividend of GBP1.06 per share which will be paid on 19 May 2020 to shareholders on the register as of 17 April 2020.
Approximately $500,000 USD was collected on the International SME Lending Platform.
Approximately $460,000 USD was collected on the Real Estate Loans Platform.
Princeton Updates:
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 final settlement distribution to RDL of $13,483,500 USD was received on 2 April 2020.
For further information, please contact:
Link Company Matters Limited
Secretary +44 (0)1392 477571