Debentures
Exemption Date – 13 October 2008
ACTUAL INCOME AND ASSET DETAILS TO BE HELD
|
Asset Value |
Effective Date |
|
|
65% |
of the face value of the investment |
13 October 2008 |
|
40% |
of the face value of the investment |
23 September 2009 |
|
24% |
of the face value of the investment |
1 — 4 April 2011 |
|
13.2% |
of the face value of the investment |
27 July 2011 |
|
9.2% |
of the face value of the investment |
30 January 2012 |
|
Income Value |
||
|
0% |
no actual income is being paid |
13 October 2008 |
Note: Basis for Asset Value estimations listed in the table above:
- Original estimated return announced was 65% effective date 13 October 2008
- Es — t — imated return announced was revised to 40% effective date 23 September 2009
- 16.00% of the face value of the original investment amount paid on 1 — 4 April 2011 thereby reducing the remaining estimated return to 24% (i.e. last estimate 40% minus 16.00% capital paid = 24.00% remaining)
- 10.80% of the face value of the original investment amount paid on 27 July 2011 thereby reducing the remaining estimated return to 13.2% (i.e. last estimate 40% minus 16.00% capital paid minus 10.80% capital paid = 13.2% remaining)
- 4.20% of the face value of the original investment amount paid on 30 January 201 — 2 thereby reducing the remaining estimated return to 9.2% (i.e. last estimate 40% minus 16.00% capital paid minus 10.80% capital paid minus 4% capital paid = 9.2% remaining)
More capital distributions will be paid, the exact dates and amounts are unknown at this stage.
Note: Not a Ministerial Exemption. These Debentures are no longer classed as financial assets as this company is in the process of irreversible wind up. See CLIK guidelines P10/C2/S4/Assessing Failed Loans and Debts.