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BSX Announces Listing Of Renaissance Russia Distressed Assets Limited
Hamilton, Bermuda: 25 January 2008 - The Listing Committee of the Bermuda Stock Exchange (BSX) today announced the approval of the listing 4,999,900 Shares ("the Shares") of USD$0.01 each, at an issue price of USD$100, under the provisions for Qualified Investor, of Renaissance Russia Distressed Assets Limited.
The listing was effective from 21 December 2007.
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Renaissance Russia Distressed Assets Limited was incorporated on the 23rd October 2007 as a closed-ended investment vehicle and is domiciled in BVI.
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The shares are to be distributed to Qualified Investors by the appointed placement Agent, Renaissance Capital Investment Management Limited, a company organized under the laws of the British Virgin Islands.
Appleby Securities (Bermuda) Limited sponsored the listing of the Common Shares of Renaissance Russia Distressed Assets Limited.
The issue is being introduced for listing under the Restricted Marketing provisions of the Bermuda Stock Exchange, which is for securities that are aimed at Qualified Investors, being individuals or institutions that invest either a minimum of $100,000 or otherwise meet one of the suitability standards as defined by the Exchange.
The investment objective of the Company is to achieve medium term capital growth by making investments into listed and unlisted financial instruments, equities, bonds, loan agreements, standard loan portfolios, promissory notes, other debt instruments, pledges and securitization instruments of companies in default in various sectors in Russia, the other members of the CIS, and the Baltic States. The Company will focus primarily on distressed instruments in the banking sector.
"The BSX is delighted to welcome Renaissance Russia Distressed Assets Limited to listing", said Mr. James S. McKirdy, Chief Compliance Officer of the BSX.
For further information on Renaissance Russia Distressed Assets Limited please contact: Alexander Temkin at phone +7 495 258 7788 or Fax at +7 495 725 5256
Or email: ATemkin@rencap.com