1st Oct 2007 17:52
Queen's Walk Investment Limited01 October 2007 THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY ORINDIRECTLY IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN Queen's Walk Investment Limited (the "Company") Results of Tender Offer Further to the Company's announcement last Friday of the results of its proposedtender offer (the "Tender Offer"), the Company confirms that 560,742 ordinaryshares of the Company that were tendered at the strike price (of Euro 5.55),being approximately 66.6% of the ordinary shares that were tendered at suchprice, were conditionally repurchased pursuant to the Tender Offer. The TenderOffer is conditional on the approval of shareholders at the extraordinarygeneral meeting of the Company to be held at 12.30 p.m. on 8 October 2007 (the "EGM"). A further announcement will be made after the EGM. For further information please contact: Investor Relations:Caroline Villiers +44 (0) 20 7153 1521About Queen's Walk 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