Real Est.cred Regulatory News (RECI)

4 Sep 2007 07:02

Queen's Walk Investment Limited04 September 2007 4 September 2007 First Quarter results and results of Annual General Meeting and ExtraordinaryGeneral Meeting Queen's Walk Investment Limited (the "Company") announces that at the annualgeneral meeting of the Company held yesterday shareholders approved allresolutions including general authority for the Company to purchase up to 14.99per cent of its ordinary shares as at yesterday's date. The Company is thereforeable to continue to effect a buy back of its ordinary shares in accordance withthe Company's existing buy back authority and with chapter 12 of the ListingRules. As long as the Company experiences extremely low liquidity in relation toits ordinary shares, any buy back of ordinary shares on any trading day may beup to 50% of the average daily trading volume of such ordinary shares over theprevious 20 trading days. In addition, at its extraordinary general meeting also yesterday the IndependentShareholders of the Company (as defined in the Company's Circular to itsshareholders dated 2 August 2007 (the "Circular")) approved the waiver from Rule9 of the City Code on Takeovers and Mergers by the Panel on Takeovers andMergers as set out in more detail in the Circular. Accordingly, the Company is now in a position to proceed with the proposedtender offer and it is expected that the detailed terms and conditions of theproposed tender offer will be set out in a tender offer document to bedespatched to shareholders on or about 14 September 2007. The Company is announcing its results for the quarter ended 30 June 2007 onTuesday, 4 September 2007. A conference call to review the Company's financial results for the quarterended 30 June 2007 will take place at 9:30 A.M. London time on 4 September 2007.The conference call can be accessed by dialling +44 (0)20 7806 1962 tenminutes prior to the scheduled start of the call; please reference Queen's WalkInvestment Limited Financial Results. A results presentation will be available on the Queen's Walk website(www.queenswalkinv.com). A webcast of the conference call will also be available on a listen-only basisat www.queenswalkinv.com. Please allow extra time prior to the call to visitthe site and download the necessary software required to listen to the internetbroadcast. A replay of the webcast will be available for three months followingthe call. For further information please contact: Investor Relations:Caroline VilliersM:Communications+44 (0) 20 7153 1521 About the Company: Queen's Walk Investment Limited is a Guernsey-incorporated investment companylisted on the London Stock Exchange. The Company invests primarily in adiversified portfolio of subordinated tranches of asset backed securities,including the unrated "equity" or "first loss" residual income positionstypically 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 (UK) LLP, considers the coupon or cash flows from the investment tobe attractive relative to the credit exposure of the underlying assetcollateral. The Company believes that its investment focus provides equityinvestors with exposure to a relatively new investment opportunity in this assetclass. This information is provided by RNS The company news service from the London Stock Exchange