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Fabian Romania Property Fund Limited ("Fabian" or the "Fund") Net Asset Value ("NAV") as at 31 March 2007
Hamilton, Bermuda: 23 April, 2007 -- Fabian, the AIM listed property fund established to invest in Romanian property, announces that its unaudited NAV per Ordinary Share as at 31 March 2007 was ‚¬1.390.
This represents an increase of +2.5 per cent. versus the ‚¬1.356 reported for 31 December 2006.
The NAV is calculated in accordance with the Fund's articles of association.
The market valuations of the portfolio used within unaudited NAV per Ordinary Share are:
|
|
Market Value |
Bank (Debt)/Cash |
Other |
NAV |
Original Investment |
|
Cascades office |
‚¬14.7m |
(‚¬9.4m) |
‚¬0.3m |
‚¬5.6m |
‚¬12.2m |
|
Banu office |
‚¬15.2m |
(‚¬9.1m) |
‚¬0.2m |
‚¬6.3m |
‚¬12.3m |
|
New Town * |
‚¬10.0m |
(‚¬1.2m) |
‚¬0.9m |
‚¬9.7m |
‚¬5.75m |
|
Lakeview * |
‚¬8.3m |
(‚¬5.1m) |
- |
‚¬3.2m |
‚¬5.3m |
|
Bank Cash |
- |
‚¬46.4m |
- |
‚¬46.4m |
|
|
Other |
- |
- |
(‚¬0.5m) |
(‚¬0.5m) |
|
|
Sub-total |
‚¬48.2m |
‚¬21.6m |
‚¬0.9m |
‚¬70.7m |
|
* represents Fabian's share of the development
The pipeline to invest the ‚¬40m raised on admission to AIM continues to be actively progressed in line with the stated strategy.
For further information, please contact:
Fabian Romania Property Fund Limited
Mark Holdsworth 020 7499 9988