10th Jul 2008 13:48
RAPID REALISATIONS FUND LIMITED
("Rapid" or "the Company")
Result of Annual General Meeting ("AGM")
Rapid Realisations Fund Limited (AIM: RRF) announces that at today's AGM all resolutions were passed.
Peter Tom, Chairman, commented: "I am extremely pleased with the Company's progress since admission to trading on AIM in August 2007. To date, Rapid has now made eleven investments, a number of which are now traded on a listed exchange with the Enegi Oil plc flotation being the most significant in terms of impact on RRF. The Company has so far invested over £20m and we have a strong pipeline of potential investments including opportunities to take strategic investments in existing quoted companies. We remain very selective and are building a relatively defensive portfolio which includes fish and chip shops, betting shops, an insurance repair work company and a distressed debt company.
The investment opportunities are increasing as the impact of the credit squeeze and volatile stock markets take effect and the Board is confident that this provides the Company with an excellent opportunity to deliver on its objectives and provide good returns for shareholders."
Enquiries
Steve Charnock
Cenkos Fund Managers Limited +44 (0) 1942 271 746
Nominated Adviser Grant Thornton UK LLP
Philip Secrett +44 (0) 20 7383 5100
Notes to Editors:
Rapid Realisations Fund Limited ("Rapid") is a closed ended investment fund listed on the AIM market of the London Stock Exchange (AIM). The investment objective of the fund is to seek to exploit the investment opportunity represented by companies in "pre-IPO" and other late stage situations with a view to arbitraging differences in public and private company valuations. The fund is managed by Cenkos Fund Managers Limited.
Related Shares:
RRF.L