ICG-Longbow Senior Secured UK Property Debt Investments Ltd - UK real estate debt-related investor - net asset value per share as at January 31 falls 26% to 72.4 pence versus 98.3p. Net assets drop at the same rate to £87.8 million from £119.2 million. Blames the decline in its results on the challenges presented by Covid-19 and the reduction in the size of the loan portfolio.

Explains its portfolio consists of six loans at the moment, as three loans have been repaid throughout the year ended January 31. Cuts total dividend by 6.7% to 5.6p from 6.0p the year before. Expects to be able to return all, or substantially all, of its current net asset value, to shareholders as all its remaining investments are expected to be repaid in full together with interest and exit fees. Plans to consider opportunities which might accelerate the return of capital while seeking to preserve shareholder value.

On Wednesday, the company already announced its intentions to return cash to its shareholders. It plans to return an amount of 6.00 pence per share to its shareholders, totalling £7.3 million based on how many shares are issued overall.

Current stock price: 67.88 pence

12-month change: down 22%

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