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Better Capital 2012 warns on Everest/SPOT – The Better Capital PCC Limited 2012 Cell has made an announcement about its end March NAV.
BECAP12 GP Limited, General Partner of BECAP12 Fund LP, has informed the board of Better Capital PCC Limited that:
(The total reported portfolio carrying value of the 2012 fund as at 31 March 2018 was GBP125.1m. The company has since distributed GBP48.35m to investors in the 2012 fund.)
[QD comment: and so, unfortunately, more bad news for investors in the 2012 cell. The announcement is somewhat enigmatic in that it does not make it clear what has gone wrong at Everest or seek to provide even a rough impact of the problem on the NAV. Investors are ‘flying blind’ in this stock. The end march NAV for the 2012 cell was 43.41p. 16p was distributed to investors on 10 August. Ex this bad news then, the NAV would have been 27.41p. The shares are off 8% on the news at 14p but we have no way of knowing if this represents a material discount or even a premium to asset value.]
BC12 : Better Capital 2012 warns on Everest/SPOT
People will always bye Everest
but it not a direct sales company any more