Sigma Finance Corporation - RNS Announcement

LONDON--(BUSINESS WIRE)-- 

2 April 2025

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”).

Distribution

On 21 November 2024, a cash distribution (the "Distribution") was made available to Beneficiaries entitled to receive payment pursuant to the Security Trust Deed and other related transaction documentation in an amount equal to US$1.8 million in respect of amounts due under the USMTN, EMTN, Liquidity Facilities and Derivatives.

The Distribution was in each case made from the Pool established for each relevant Beneficiary in accordance with the terms of the Security Trust Deed and as previously notified to Beneficiaries in a notice dated 18 November 2024.

Following the resolution of certain administrative issues, these payments have now all been made to Beneficiaries (either directly or through the applicable clearing systems). As notified by the Joint Receivers to Beneficiaries, on 29 October 2024, this is the final Distribution pursuant to the Security Trust Deed and the instrument of appointment of the Joint Receivers dated 6 October 2008 (as amended and supplemented from time to time).

Information regarding Pools and Distribution

The amounts allocated to each Pool and the Distribution made from each such Pool has been made available by the Joint Receivers for inspection on the website maintained by Sigma at: https://www.ips-docs.com/creditor/LO3467/BE1268F9-0126-4505-99F7-D076B0FDE0D7

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

Further information

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