TRMA Thames Riv. £

TIDMTRMA TIDMTTM TIDMTTM

RNS Number : 9425H

Thames River Multi Hedge PCC Ltd

26 June 2013

THAMES RIVER MULTI HEDGE PCC LIMITED

(the "Company")

(a closed-ended, umbrella investment, protected cell company incorporated with limited liability under the laws of Guernsey with registered number 41511)

Estimated net asset value

As at the close of business on the 21(st) June 2013, the estimated net asset value per share of each share class with one month and year to date (from 1 January) comparisons were:

 
  Share Class              NAV at      % Change (Month     % Change (Year 
                           21.06.13    to Date) to prior      to Date) 
                                           month-end         from 1 Jan 
                                                                2013 
----------------------  -----------  -------------------  --------------- 
 Sterling Shares (GBP 
  pence)                     129.92               -1.51%           -4.61% 
----------------------  -----------  -------------------  --------------- 
 

Please note the % Change (Month to Date) to prior month-end information above relates to NAV performance from the previous month end estimated values and that prior month end NAV is recalculated on a weekly basis throughout the month until such time as the NAV can be finalised. As such the information above is an indication of MTD performance from the most recently calculated month end price which may differ from the original values published

This valuation, which has been prepared in good faith by the Company's Administrator, is for information purposes only. This estimate is based on the unaudited estimated valuations made available to the Company's Administrator by service providers acting on behalf of funds held by the Company. Such estimates may not be subject to any independent verification or other due diligence and may not comply with generally accepted accounting practices or other generally accepted valuation principles. In addition, some estimates may not be supplied on a regular or timely basis with the result that the values of such investments are based on the latest available estimates which may relate to some time before the date set out above. Other risk factors which may be relevant to this valuation are set out in the Company's most recent prospectus dated 28 April 2008.

The Directors may use their own discretion to apply a discount to the unaudited net asset value provided by the relevant fund manager or administrator if they believe that the net asset value provided does not reflect fair value. The Directors believe that the most appropriate reflection of fair value for Newtonian China Real Estate Offshore Fund Limited is based on a sale to a secondary market buyer. The Company, through the Investment Manager, has been unable to secure any bids for such a sale. In addition, the Directors (as advised by the Investment Manager) believe that there may be material uncertainties relating to the long term financing of the underlying asset held by Newtonian China Real Estate Offshore Fund Limited which could impact the Company's ability to crystallise value from this investment through a sale of the underlying asset. Accordingly, the Directors have decided to write down the value of this holding to nil. As at 14 June 2013, Newtonian China Real Estate Offshore Fund Limited represented 5.56 per cent by value of the Company's investment portfolio.

Queries to:

Tracy Fennell at Thames River Capital LLP: + 44 20 7011 4455

Stephen Rouxel at State Street (Guernsey) Limited: + 44 1481 704544

Dion Di Miceli at Cenkos Securities Plc : + 44 207 397 1921

The Company is an authorised closed-ended investment scheme domiciled in Guernsey. As an existing closed-ended fund the Company is deemed to be granted an authorisation declaration in accordance with section 8 of the Protection of Investors (Bailiwick of Guernsey) Law 1987, as amended and rule 6.02 of the Authorised Closed-ended Investment Schemes Rules 2008 on the same date as the Company obtained consent under the Control of Borrowing (Bailiwick of Guernsey) Ordinance 1959 to 1989.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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