Company Announcement

LONDON--(BUSINESS WIRE)-- 

For immediate release

18 November 2024

COMPANY ANNOUNCEMENT

THE RECEIVERSHIP OF SIGMA FINANCE CORPORATION (IN RECEIVERSHIP AND IN LIQUIDATION)

The joint receivers appointed over the assets of Sigma Finance Corporation (In Receivership and In Liquidation) ("Sigma" or the "Company") being S. J. Harris and S. J. Edel of Ernst & Young LLP (the "Joint Receivers") wish to provide an update to Beneficiaries.

Capitalised terms used in this announcement and not otherwise defined have the meanings given to them in the Amended and Restated Security Trust Deed dated 27 March 2003 (the "Security Trust Deed") between the Company and Deutsche Trustee Company Limited (the “Security Trustee”).

Pooling

As announced previously, in accordance with an Order of the English High Court dated 28 July 2010, the Joint Receivers established pools on 8 November 2010 relating to Sigma's liabilities pursuant to the Security Trust Deed and have allocated Sigma's Assets to such pools in the manner set out in the Security Trust Deed and the pooling and distribution methodology dated 22 June 2010, which was previously made available to Beneficiaries and a copy of which has been posted by the Joint Receivers on the website maintained by Sigma at:

https://www.ips-docs.com/creditor/LO3467/BE1268F9-0126-4505-99F7-D076B0FDE0D7

References below to a "Liquidity Provider" or "Derivative Counterparty" are references to the relevant Liquidity Provider or Derivative Counterparty which has previously been identified to such parties individually. If you have any queries as to which identifier refers to your claim, please contact the Joint Receivers at the email address set out below.

Date of distribution

The Joint Receivers intend to make a distribution to Beneficiaries on 21 November 2024 (the "2024 Distribution") using the methodology set out in the Security Trust Deed.

The amount which is intended to be distributed to Beneficiaries is set out below and has been calculated using a Record Date (as such term is defined in the methodology) of 7 November 2024.

Identifier	Ccy	Intended payment
Liquidity Provider 1	USD	10.88
Liquidity Provider 2	USD	9.13
Liquidity Provider 3	USD	3.50
Derivative Counterparty 1	USD	23,980.68
Derivative Counterparty 2	USD	10,925.83
Derivative Counterparty 3	USD	5,482.28
Derivative Counterparty 4	USD	2,665.08
Derivative Counterparty 5	USD	24,932.01
Derivative Counterparty 6	USD	19,667.47
Derivative Counterparty 7	USD	7,815.12
Derivative Counterparty 8	USD	10,612.62
Derivative Counterparty 9	USD	16,303.58
Derivative Counterparty 10	USD	1,927.42
Derivative Counterparty 11	USD	10,563.93
Derivative Counterparty 12	USD	2,302.27
Derivative Counterparty 13	USD	7,835.24
Derivative Counterparty 14	USD	1,512.40

Identifier	Ccy	Intended Principal payment	Intended Interest payment
8265Q0TX0	USD	58,229.27	318.16
8265Q0UA8	USD	19,409.76	141.18
8265Q0XC1	USD	64,699.20	338.33
8265Q0XD9	USD	46,065.82	325.65
XS0274164622	GBP	12,728.56	2,100.20
XS0274165512	GBP	7,955.35	1,570.13
8265Q0XF4	USD	70,651.52	417.14
8265Q0XG2	USD	47,359.81	335.78
XS0181192260	SEK	3,449.34	-
8265Q0XR8	USD	19,409.76	67.70
XS0278773626	GBP	35,003.54	7,016.01
8265Q0YD8	USD	11,969.35	96.02
XS0281463371	GBP	7,955.35	1,718.83
8265Q0VF6	USD	50,665.42	974.08
8265Q0MW9	USD	12,939.84	147.51
8265Q0VQ2	USD	34,937.56	226.91
CH0024019462	CHF	67,856.01	1,203.62
XS0290214146	EUR	66,703.13	8,630.69
8265Q0WE8	USD	89,673.08	1,100.42
XS0290954006	GBP	9,546.42	1,905.44
XS0247517914	GBP	23,866.06	4,867.53
8265Q0WM0	USD	25,879.68	151.49
8265Q0WN8	USD	10,351.87	59.62
8265Q0QA3	USD	6,894.34	227.28
XS0299055094	GBP	1,909.28	419.30
8265Q0XJ6	USD	12,939.84	200.93
8265Q0XQ0	USD	129,398.38	770.02
8265Q0YA4	USD	517.59	28.21
8265Q0YE6	USD	6,469.92	97.28
CH0018912912	CHF	36,227.08	11,027.57
8265Q0SQ6	USD	6,469.92	116.57
8265Q0SR4	USD	51,385.91	925.87
XS0201288957	USD	4,658.35	374.04
8265Q0TF9	USD	25,879.68	115.75
8265Q0TG7	USD	25,620.37	464.73
8265Q0TM4	USD	27,158.43	721.19
8265Q0TS1	USD	27,620.80	258.83
8265Q0UL4	USD	9,571.67	185.82
8265Q0UY6	USD	13,689.44	249.86
XS0281463967	GBP	2,816.79	630.98
8265Q0VZ2	USD	9,968.62	117.25
XS0213963621	JPY	1,033,533.00	19,677.00
XS0210941539	GBP	14,261.91	2,976.95
8265Q0WL2	USD	48,514.41	274.42
XS0261229966	JPY	258,685.00	4,678.00
8265Q0YU0	USD	6,778.73	190.88
8265Q0TA0	USD	5,456.93	118.73
XS0230259060	JPY	2,850,255.00	47,680.00
8265Q0RR5	USD	12,005.37	1,933.93
CH0022527938	CHF	10,546.08	2,381.70
XS0178113808	EUR	977.62	-
XS0292912846	GBP	10,043.41	2,023.80
XS0304981193	JPY	517,183.00	9,504.00
XS0304915647	AUD	6,957.90	2,198.33
XS0306202242	JPY	517,799.00	9,011.00
XS0242756129	EUR	1,293.08	124.62
8265Q0PC0	USD	2,706.06	81.76
XS0249469080	JPY	624,043.00	10,834.00
XS0261659469	JPY	519,269.00	9,795.00
XS0269566419	JPY	816,717.00	23,830.00
8265Q0UZ3	USD	6,660.34	309.27
8265Q0VA7	USD	2,662.39	125.43
XS0269511274	JPY	1,273,282.00	39,502.00
XS0275026952	JPY	516,708.00	12,356.00
8265Q0VL3	USD	5,288.33	287.33
XS0294049415	AUD	1,491.88	592.71
XS0293352067	JPY	1,549,655.00	30,031.00
XS0293351846	USD	11,351.04	2,090.01
8265Q0WH1	USD	2,697.10	90.72
XS0307406297	USD	907.58	167.54
XS0229086698	SEK	21,078.27	-
XS0290373611	JPY	659,500.00	318,904.00
XS0314364604	JPY	510,754.00	14,647.00
8265Q0SH6	USD	9,772.94	5,543.58
8265Q0UB6	USD	8,949.79	4,989.51
XS0297737933	JPY	2,321,495.00	47,437.00
XS0305023615	JPY	1,033,091.00	20,031.00
XS0304020653	JPY	1,705,971.00	31,954.00
XS0312208316	JPY	518,405.00	8,527.00
8265Q0YC0	USD	8,504.37	5,027.89
XS0312206963	JPY	518,477.00	8,469.00
XS0179568257	JPY	1,556,682.00	24,408.00

Additional Documents

Any notices provided to Beneficiaries by the Joint Receivers in connection with the 2024 Distribution and a table setting out the amounts allocated to each Pool and the distribution expected to be made from each Pool will be made available on the website maintained by Sigma referred to above.

Further information

Please email [e-mail] if you have any queries regarding this announcement.

Please note that nothing in this document is intended to amount to an invitation or inducement to engage in investment activity. Nothing in this document amounts to the giving of advice. If you are in any doubt as to the action you should take, you should consult a professional adviser.

The Joint Receivers are appointed over the assets of the Company and act without personal liability.

SJ Harris and SJ Edel are authorised to act as Insolvency Practitioners in the UK by the Institute of Chartered Accountants in England and Wales and the Insolvency Practitioners Association respectively. As Insolvency Practitioners, they are bound by the Insolvency Code of Ethics in carrying out all professional work relating to the appointment.

The Joint Receivers may act as data controllers of personal data as defined by the General Data Protection Regulation (as incorporated in the Data Protection Act 2018), depending upon the specific processing activities undertaken. Ernst & Young LLP may act as a data processor on the instructions of the Joint Receivers. Personal data will be kept secure and processed only for matters relating to the Joint Receiver’s appointment.

The Office Holder Data Privacy Notice can be found at www.ey.com/uk/officeholderprivacy.

END OF ANNOUNCEMENT