18th Jul 2007 13:36
Queen's Walk Investment Limited18 July 2007 18 July 2007 Queen's Walk Investment Limited Result of Extraordinary General Meeting Queen's Walk Investment Limited (the "Company") announces that at theextraordinary general meeting of the Company held earlier today the IndependentShareholders of the Company (as defined in the Company's Circular to itsshareholders dated 25 June 2007 (the "Circular")) approved the waiver from Rule9 of the City Code on Takeovers and Mergers by the Panel on Takeovers andMergers as set out in more detail in the Circular. Accordingly, the Company is now in a position to effect a buy back of itsordinary shares in accordance with the Company's existing buy back authority andwith chapter 12 of the Listing Rules. As long as the Company experiencesextremely low liquidity in relation to its ordinary shares, any buy back ofordinary shares on any trading day may be up to 50% of the average daily tradingvolume of such ordinary shares over the previous 20 trading days. For further information please contact: Investor Relations:Caroline Villiers +44 (0) 20 7153 1521 About the Company: Queen's Walk Investment Limited is a Guernsey-incorporated investment companylisted on the London Stock Exchange. The Company invests primarily in adiversified portfolio of subordinated tranches of asset backed securities,including the unrated "equity" or "first loss" residual income positionstypically retained by the banks or other financial institutions which haveoriginated the loan assets that collateralise a securitisation transaction. TheCompany makes such investments where its investment manager, Cheyne CapitalManagement (UK) LLP, considers the coupon or cash flows from the investment tobe attractive relative to the credit exposure of the underlying assetcollateral. The Company believes that its investment focus provides equityinvestors with exposure to a relatively new investment opportunity in this assetclass. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Real Est.cred