Better Capital has released a trading statement today in which it cautions that trading conditions in two of the companies held in the 2009 cell have been “significantly below expectations”. Both are said to be profitable however. BCAP is warning that there could be a significant write down in the value of these companies at the valuation date on 31 March 2014 and the 2009 cell’s net asset value will “decline by a material amount”.
By contrast BCAP say that the 2012 cell’s net asset value will probably be maintained or increased at the end of March.