18th Dec 2007 17:16
Queen's Walk Investment Limited18 December 2007 THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN Queen's Walk Investment Limited (the "Company") Repurchase of Own Shares At the annual general meeting of the Company held on 3 September 2007, theCompany's shareholders approved the Company repurchasing up to a maximum of14.99 per cent. of its issued share capital (the "Buy Back Authority"). Following the close of the Company's tender offer on 17 December 2007, thestrike price of which was announced earlier today, the Company announces that itintends to continue to repurchase its own shares pursuant to the Buy BackAuthority. When doing so, it will consider, on any particular day, buying back anumber of Ordinary Shares which exceeds 50% of the Company's average dailytrading volume over the prior 20 trading days. For further information please contact: Investor Relations:Caroline Villiers +44 (0) 20 7153 1521 About Queen's WalkQueen'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 cash flows from the investment to beattractive relative to the credit exposure of the underlying asset collateral. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Real Est.cred