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IN BRIEF: ICG-Longbow Senior Secured warns of deteriorating market

26th Sep 2023 11:02

ICG-Longbow Senior Secured UK Property Debt Investments Ltd - London-based investor in UK real estate debt - Board and investment manager are reviewing the carrying values of all assets "in light of deteriorating property and debt market conditions" in the six months that ended July 31, the first half of the company's financial year. The results of this review and an update on strategy will be provided with interim results, which are expected to be released next week.

"The investment manager is pursuing several concurrent strategies to protect the value of the underlying property security and maintain operations at the parks," the company says. "While commercial sensitivities preclude specific disclosures, options include a business sale, individual asset sales, and introduction of strategic partners and/or a new management team. All are being actively pursued."

Current stock price: 27.50 pence

12-month change: down 53%

By Tom Waite, Alliance News editor

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