1st Nov 2007 16:07
Ottoman Fund Limited (The)01 November 2007 For immediate release 01 November 2007 The Ottoman Fund Limited Conclusion of Strategic Review On 30th August 2007 The Ottoman Fund Limited (the "Company") announced aStrategic Review. The Board of the Company, having been advised by FenchurchAdvisory Partners and Numis Securities, has considered a range of options. The Strategic Review concluded that a portfolio of considerable value has beenassembled by the Manager but the value of this portfolio is not reflected in theCompany's share price. The Board has therefore determined that: 1. The portfolio of the Company be progressively realised in a managed way over the next 18- 24 months so as to maximise the portfolio's value potential and shareholder returns. It is intended to return sale proceeds to shareholders; and 2. A share buy back scheme be implemented to return US$30m cash to shareholders, which will be initiated shortly after the announcement of the Company's results in mid November For further details please contact:- The Company Secretary Jeremy Hamon01534 709108 Development Capital Management Roger HornettTom PridmoreAndrew Mitchell020 7355 7600 Buchanan Communications Charles RylandIsabel Podda020 7466 5000 Fenchurch Advisory Partners Richard LockeRony Lam020 7382 2220 Numis Securities Bruce GarrowNick Westlake020 7260 1000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ottoman Fund