Attached is the summary of cash balances held at 31 October
Cash balances increased by approximately £14.6 million
during the month. Loan repayments, interest and other income
totalled approximately £6.6 million. The dividend from KSFUK was
£7.4m. Distributions and expenses were approximately £0.1 million.
Exercise of foreign exchange options resulted in a further receipt
Attached is the summary of the loan book position at
31 October 2012.
During October 2012, two facilities were
redeemed in full and two in part realising £6.2 million
The loan tables shown have been converted to Sterling
using exchange rates as at 31 October 2012.
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 October 2012, and we
have calculated that they would add a further £1.2 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 October 2012, and
we have calculated that they would add £4,800 to the value of the
receipts due on these loans.
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