18th Jul 2006 09:10
Queen's Walk Investment Limited18 July 2006 Queen's Walk Investment Limited ("Queen's Walk" or the "Company") Announcement of Interim Dividend for the Quarter Ended 30 June 2006 Queen's Walk announces that it will declare an interim quarterly dividend forthe period ended 30 June 2006 on 31 July 2006, the date of the Company's AnnualGeneral Meeting. (Copies of the notice of the Annual General Meeting were mailedto shareholders on 5 July 2006 and are available from the Company.) The Company's target dividend for the quarter ended 30 June 2006 is not lessthan €0.26 per share. The dividend will be payable on 31 August 2006 toshareholders of record on 11 August 2006. The Company continues to evaluate and undertake primary target investments andthe Company's investment manager, Cheyne Capital Management Limited, believesthat the pipeline of investment opportunities for the Company remains robust.The Company retains sufficient capital and financing flexibility to meet itsinvestment objective and policies in the medium term. For further information please contact: Investor Relations: Caroline Villiers +44 (0) 20 7153 1539 Cheyne Capital: Syd Hanna +44 (0) 20 7031 7423 About the Company: Queen's Walk Investment Limited is a Guernsey-incorporated investment companylisted on the London Stock Exchange. The Company's investment objective is topreserve capital and to provide stable returns to shareholders in the form ofquarterly dividends. To achieve this, Queen's Walk invests primarily in adiversified portfolio of subordinated tranches of asset backed securities,including the unrated "equity" or "first loss" residual income positiontypically 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 Limited, considers the coupon or cashflows from the investment to beattractive relative to the credit exposure of the underlying asset collateral.The Company believes that its investment focus provides equity investors withexposure to a relatively new investment opportunity in this asset class. * * * The content of this announcement includes statements that are, or may deemed tobe, "forward-looking statements". These forward-looking statements can beidentified by the use of forward-looking terminology, including the terms"believes", "estimates", "anticipates", "expects", "intends", "may", "will" or"should". They include the statement regarding the target aggregate dividend. Bytheir nature, forward-looking statements involve risks and uncertainties andreaders are cautioned that any such forward-looking statements are notguarantees of future performance. The Company's actual results and performancemay differ materially from the impression created by the forward-lookingstatements. The Company undertakes no obligation to publicly update or reviseforward-looking statements, except as may be required by applicable law andregulation (including the Listing Rules). Any target dividends are based on certain assumptions as to future events whichmay not prove to be realised. Due to the uncertainty surrounding these futureevents, the targets are not intended to be and should not be regarded as profitsor earnings forecasts. There can be no assurance that these targets will beachieved or that the Company will be able to pay dividends at the target levelsor at all. The payment of any target dividends is subject to the Companygenerating sufficient profits or having sufficient retained earnings and therecan be no assurance that this will be the case. The Company may revise itsdividend policy from time to time. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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