Cash Position
Attached is the summary of cash balances held at 31 December
2011.
Cash
Position
Cash balances increased by approximately £27.6 million
during the month. Loan repayments, interest and other income
totalled £27.6 million. Catch-up distributions were
£0.2 million. Expenses were £0.1 million.
Loan Book
Attached is the summary of the loan book position at 31
December 2011.
Loan
Book
During December 2011, five facilities were redeemed in full
realising £27.5 million overall.
The loan book details shown have been converted to
Sterling using exchange rates as at 30 December 2011.
The Joint Liquidators have purchased currency options to
hedge certain of the future loan receipts. Sterling options
purchased to hedge future Euro receipts were matched against the
relevant loans included in the summary at 31 December 2011, and we
have calculated that they would add a further £1.5 million to the
value of the receipts due on these loans. Sterling options
purchased to hedge future US dollar receipts were matched against
the relevant loans included in the summary at 31 December 2011, and
we have calculated that they would add a further £1,000 to the
value of the receipts due on these loans.
Contacts
The best way to make contact is to write to the bank or
email branch@singers.co.im. If you need to
telephone the bank, please use the main switchboard number +44 1624
699222.
Mike Simpson
Joint Liquidator