ARCH Arc Capital

TIDMARCH

RNS Number : 2508N

ARC Capital Holdings Limited

24 July 2014

24 July 2014

ARC Capital Holdings Limited

Suspension

On 24 April 2014, ARC Capital Holdings Limited ("ARCH") (AIM: ARCH) announced that its unaudited net asset value ("NAV") per share was US$0.9169 as at the close of business on 31 March 2014. It included a fair value of ARCH's interests in Fortress Group Limited ("FGL") of US$126.6 million which represented 60.5% of the then NAV. This was primarily based on the transaction value of the proposed sale of ARCH's equity stake in FGL with Sanpower Group Co. Ltd (the "Transaction").

ARCH's announcements dated 4 July 2014 and 23 July 2014 set out that the Transaction had not completed as the PAG Closing (as defined in the announcement dated 4 July 2014) had not occurred and that no information or clarification has been forthcoming from ARC Capital Partners Limited (the " Investment Manager"), or FGL as to the reasons for this.

Requests have also been made of the Investment Manager and of FGL directly for up to date financial statements for FGL and other information to enable ARCH to determine a fair value of ARCH's equity interest in FGL as at 30 June 2014. As at to date, neither the Investment Manager nor FGL has provided the requested information.

In light of the uncertainty associated with the Transaction, the lack of information available as to the current status of the PAG Closing and the absence of up to date financial information in respect of FGL, the Valuation Committee of ARCH is unable to attribute a fair value of ARCH's equity interest in FGL as at 30 June 2014. In addition, the ARCH board also has reason to believe that there may have been a diminution in the fair value attributed to FGL as at 31 March 2014.

As a result of this, ARCH is unable to publish its net asset value as at 30 June 2014.

As a consequence, and due to the fact that FGL represents a significant proportion of the NAV, the ARCH board have requested a suspension of trading in the ARCH shares pursuant to AIM Rule 40 until such time that the Valuation Committee of ARCH is satisfied that it is able to formulate and attribute a fair value to FGL and to issue a NAV.

A further announcement will be made in due course.

For more information please contact:

ARC CAPITAL HOLDINGS LIMITED:

Steve Feniger, Chairman of the Board

E: steve.feniger@gmail.com

NOMINATED ADVISER:

Philip Secrett, Grant Thornton UK LLP

T: (44) 20 7383 5100

E: Philip.J.Secrett@uk.gt.com

BROKER:

David Benda / Hugh Jonathan, Numis Securities Limited

T: (44) 20 7260 1000

E: d.benda@numiscorp.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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