ACPM Acp Mezzanine

 

TIDMACPM 
 
RNS Number : 1008D 
ACP Mezzanine Ltd 
25 November 2009 
 

 25 November 2009 
ACP Mezzanine Limited 
Disposal of investments in IFR and Settlement of IFR Litigation 
ACP Mezzanine Limited ("ACPM": AIM: ACPM) is pleased to announce that it has 
today sold all of its preference shares in IFR Jersey Limited, a wholly owned 
subsidiary of IFR Capital plc ("IFR"), including entitlement to accrued 
dividends, for a total cash consideration of EUR28.6 million to Textil Romania 
S.á.r.l.  Their book value and accrued dividends as at 30 September 2009 was 
EUR21.1 million. 
ACPM is also pleased to announce that it has granted an option to sell its D 
tranche position in IFR's debt, together with all accrued interest from 1 
October 2009 until the date of transfer, (the "D Tranche") to Perfina AG by 4 
December 2009 for a total cash consideration of EUR15.0 million. The book value of 
the D Tranche at 30 September 2009 was EUR10.1 million. 
ACPM will retain its interests in IFR's A, B and C tranche debt, which as at 30 
September 2009 had a book value of EUR15.5 million. 
ACPM is also pleased to announce that it has also today settled all outstanding 
litigation with IFR without any admission of liability and with each party 
bearing its own costs. 
ACPM will make a further announcement shortly regarding a distribution, 
comprising all or part of these amounts, in accordance with ACPM's policy of 
promptly returning excess cash to shareholders. 
 
 
Enquiries: 
+--------------------------+--------------------------+--------------------------+ 
| Hugh Field / Bruce       | Collins Stewart Europe   | +44 (0) 207 523 8350     | 
| Garrow                   | (Nominated Adviser)      |                          | 
+--------------------------+--------------------------+--------------------------+ 
| Tim McCall/ Barnaby Fry  | Hogarth Partnership      | +44 (0) 207 357 9477     | 
+--------------------------+--------------------------+--------------------------+ 
Additional Information: 
The dividends and interest income during the year ended 31 December 2008 on 
ACPM's holdings in IFR's preference shares and D Tranche debt was EUR5.1 million. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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