Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDL.L Regulatory News (RDL)

  • There is currently no data for RDL

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Princeton - Portfolio Update

14 Nov 2017 07:00

RNS Number : 3832W
Ranger Direct Lending Fund PLC
14 November 2017
 

 

14 November 2017

RANGER DIRECT LENDING FUND PLC

Princeton - Portfolio Update

Further to the Company's announcements regarding the bankruptcy proceedings in respect of Argon Credit, LLC and Argon X, LLC (together, "Argon"), the Company has been informed by the Princeton Alternative Income Fund Ltd ("Princeton") that it intends to take an additional gross reserve of approximately $10.4 million against the Argon portfolio due to a decline in recent cash flows attributable to the portfolio.

The notification by Princeton does not contain detailed financial records or portfolio information that would allow the Company to fully assess the basis on which the reserve has been taken and, as a result, it is unable to confirm the precise impact of the reserve on NAV at the current time. However, the Company currently expects that the reserve will be treated as an impairment of its investment in Princeton which would result in an approximate decrease of approximately 4% in the NAV per Ordinary Share calculated as at 30 September 2017. The reserve does not have an impact on the Company's dividend to be paid in respect of the third quarter of 2017 as announced today.

The Company has again written to Princeton urgently seeking additional information. As previously notified to shareholders, the arbitration proceedings against Princeton are due to commence on 20 November 2017 and additional information will be sought by the Company as part of those proceedings.

A further announcement will be made in due course.

This announcement contains inside information.

 

For further information, please contact:

Link Company Matters LimitedSecretary

+44 (0)1392 477 510

Ranger Capital GroupBill KassulScott Canon

Via Redleaf PR

Liberum Capital Limited

+44 (0)20 3100 2000

Media EnquiriesRedleaf CommunicationsElisabeth CowellRobin Tozer

ranger@redleafpr.com+44 (0)20 7382 4730

IMPORTANT INFORMATION

The actual outcome of any legal proceedings may be materially affected by new information coming to light following the date of this announcement. Any views contained herein are based on the Company's understanding of the relevant proceedings as of the date of this announcement.

END OF ANNOUNCEMENT

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
PFUUOSURBOAAAUA
Date   Source Headline
17th Jun 20153:04 pmRNSNet Asset Value(s)
2nd Jun 20157:00 amRNSCapital Deployment on 7 Direct Lending Platforms
13th May 20155:34 pmRNSHolding(s) in Company
1st May 20157:00 amRNSAdmission to Trading
3rd Dec 20082:17 pmPRNRestructure Proposals
1st Dec 20087:00 amPRNRedline Communications Inc. - Notice of Cancellation
19th Nov 20087:00 amPRNAdditional Listing and Block Admission
17th Nov 20083:39 pmPRNStatement re TSX Defers Consideration of Redline Plan
13th Nov 20087:45 amPRNRedline Reports Third Quarter 2008 Financial Results
13th Nov 20087:30 amPRNRe Agreement
10th Nov 20087:00 amPRNRedline announces adoption of shareholder rights plan
10th Nov 20087:00 amPRNRedline reports additional investment made by Vecima
7th Nov 20087:00 amPRNRedline Communications 2008 Q3 conference call
5th Nov 20087:00 amPRNHolding(s) in Company
19th Aug 20087:00 amPRNRedline announces changes to senior management team
31st Jul 20087:00 amPRNHalf-yearly Report
30th Jul 20081:46 pmPRNSecond quarter conference call
14th Jul 20083:24 pmPRNRedline Announces Non-Executive Board Appointment
9th Jul 200812:00 pmPRNRedline Updates 2008 Revenue Outlook
30th Jun 20082:55 pmPRNAnnual Report and Accounts
27th May 20087:00 amPRNRedline Announces Details of Annual and Special Meeting
21st May 20081:24 pmPRNRedline wins WiMAX award
15th May 20087:00 amPRNBest of WiMAX World EMEA 2008 Awards
9th May 20087:00 amPRN1st Quarter Results
1st May 20087:00 amPRNRedline Communications 2008 1st quarter conference call
23rd Apr 20087:30 amPRNRedline and Patapsco collaborate
2nd Apr 20087:00 amPRNRedline's Products chosen by Orascom Technology
26th Mar 20087:00 amPRNUUNET Kenya to Expand its WiMAX Network with Redline
18th Mar 20087:00 amPRNProduct Launch
28th Feb 20087:00 amPRNFinal Results
22nd Feb 20087:00 amPRNNotice of Conference Call
20th Feb 20087:00 amPRNUnveils New Public Safety Applications
12th Feb 20087:00 amPRNLaunches Full Suite of RedMAX 4C Mobile WiMAX products
5th Feb 20087:00 amPRNRedline launches Broadband Wireless Infrastructure
22nd Jan 200812:00 pmPRNRedline's RedMAX chosen by One Ring Networks
21st Jan 20087:00 amPRNRedline chosen for Chilean network expansion
10th Jan 20087:00 amPRNRedline's RedMAX products chosen by Divona
4th Jan 20087:00 amPRNSecond Half of Fiscal 2007 Revenue Guidance
20th Nov 20077:01 amRNSMTN Cameroon Win
16th Nov 200712:40 pmRNSFCC Approval
14th Nov 200712:00 pmRNSNew Contract Win
13th Nov 200712:00 pmRNSQ3 Results 2007
12th Nov 20074:35 pmRNSContract Update
7th Nov 20074:59 pmRNSResults Announcement
6th Nov 20074:31 pmRNSContract Update
25th Oct 20072:30 pmRNSCommencement of Trading
25th Oct 20077:00 amRNSReorganisation & Placing

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.