Connaught: Fund suspension update

By Bridging Loan Directory -

 

Continuation of Suspension of Calculation of Net Asset Value and Dealing in Units

Further to the announcement made on 11 May 2012, the Board of Directors of Connaught Asset Management (Guernsey) Limited, Investment Manager of the Issuer, agreed at a meeting on 21 May 2012 to continue the suspension of the calculation of the Net Asset Value of the Fund and the issue and redemption of units in the Fund. Suspension of the listing of the Fund’s units on the Official List of the Channel Islands Stock Exchange will also remain in force at the present time.

The Investment Manager will be taking independent legal advice in respect of the future of the Fund. The BDO LLP report referred to in our previous announcement is now expected to be received during the week commencing 28 May 2012. However, the Directors have decided that this report should not be considered in isolation but together with the legal opinion referred to and, consequently, the Board of Directors has agreed to meet on the 12 June 2012 to consider both the BDO LLP report and the legal opinion. As a consequence of the meeting on 12 June 2012 a further announcement will be made.

Enquiries should be addressed to the Investment Advisor:

Investment Advisor
Jon Durie
Connaught Asset Management Limited
Hill Place House, 55a High Street
Wimbledon Village, SW19 5BA
Tel: 020 8971 9724
Email: Jon.durie@connaughtam.com