25th May 2016 11:14
LONDON (Alliance News) - Chenavari Capital Solutions Ltd on Wednesday said it produced a net asset value total return of -1.17% with dividends reinvested over the six months ended March 31.
Since launch in October 2013, the NAV total return to the end of the period was 10.7%. Its NAV per share fell to 93.31 pence from 99.41p over the course of the six months.
The company has declared two dividends: 2 pence per share on February 26 for the period ending 31 December 2015 and 2 pence per share to be paid on May 27 for the period ended March 31. On November 27 a dividend of 2.95 pence per share was paid for the period to September 30.
Its mid-market share price at the end of March was 86.50p, representing a discount to NAV of 7.30%.
The loss made in the half was GBP1.5 million, or 1.15 pence per share.
Chenavari Capital Solutions invested GBP2.4 million in transactions through the purchase of one primary transaction and the investment in two loan positions. One primary transaction was closed in the period.
At the end of March, the company was 90.93% invested in sixteen positions including thirteen primary transactions valued at GBP85.5 million and three secondary transactions valued at GBP24.1million. The company had other assets and liabilities equating to 2.76% of NAV and cash equating to 6.31% of NAV at the end of March.
By Samuel Agini; [email protected]; @samuelagini
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