Image Image Image Image Image Image Image Image Image Image

Peer2Peer Finance News | July 21, 2019

Scroll to top

Top

RDL shares set to be reinstated by the end of May

RDL shares set to be reinstated by the end of May
Marc Shoffman

TRADING in shares of the RDL Realisation investment trust could be restored by the end of the month after the company said its accounts are finalised.

Shares in the alternative finance-focused investment trust, which rebranded from Ranger Direct Lending in February,  were temporarily suspended at the end of last month as the company was late in filing its annual report.

This was blamed on a delay in valuing a loan impairment.

A stock market update from RDL on 14 May said it now expects to publish its accounts by 28 May.

“Deloitte has confirmed that valuation work required to finalise the audit is substantively complete,” RDL said.

“The company now expects to publish its annual accounts for the financial year ending on 31 December 2018 by 28 May 2019.

“The company’s ordinary shares will remain suspended pending publication of the annual accounts following which the company will request the suspension be lifted.”

RDL is in the process of being wound down after being hit by poor performance and an ongoing dispute with its Princeton holding, which has subsequently gone bankrupt.