News and Press
| Date: | 1st November 2007 |
| Title: | The Ottoman Fund Limited - Conclusion of Strategic Review |
| Author: | - |
| Download: | pdf version |
Conclusion of Strategic Review
On 30th August 2007 The Ottoman Fund Limited (the "Company") announced
a Strategic Review. The Board of the Company, having been advised by Fenchurch
Advisory Partners and Numis Securities, has considered
a range of options.
The Strategic Review concluded that a portfolio of considerable value
has been assembled by the Manager but the value of this portfolio is not
reflected in the Company's share price.
The Board has therefore determined that:
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 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 -Ends -
For further details please contact:-
The Company Secretary 01534 709 108
Jeremy Hamon
Development Capital Management 020 7355 7600
Roger Hornett
Tom Pridmore
Andrew Mitchell
Buchanan Communications 020 7466 5000
Charles Ryland
Isabel Podda
Fenchurch Advisory
Partners 020 7382 2220
Richard Locke
Rony Lam
Numis Securities 020 7260 1000
Bruce Garrow
Nick Westlake