12th Oct 2007 15:41
Queen's Walk Investment Limited12 October 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 Repurchase of Shares As at the close of business on Wednesday 11 October 2007, the Company had39,575,202 shares in issue, of which 4,504,500 will be repurchased pursuant tothe tender offer that became unconditional on Monday 8 Oct 2007, and of which afurther 5,440,299 shares are still able to be bought back under the Company'sgeneral buy back authority. 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'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.The Company believes that its investment focus provides equity investors withexposure to a relatively new investment opportunity in this asset class. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Real Est.cred