Media Releases

•Finalisation of full year accounts progressing

•Impairment provisions of $6.9 million to be raised against property investments

 

 

Keybridge expects to lodge its full year accounts for the year ended 30 June 2013 with the market by the end of August 2013. This timing is a little delayed as we balance the finalisation of the accounts with the progress on the PR Finance Scheme of Arrangement.

However, Keybridge notes that it is likely that in its full year accounts the Company will take a $6.9 million impairment provision against its remaining property investments. These property investments remain under pressure as a result of a number of factors including delayed commencement of a key stage of a construction development and as a result of a number of properties over which Keybridge indirectly holds a first mortgage likely to be realised at values insufficient to extinguish the mortgages in full.

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Keybridge Capital is a financial services company that has invested in, or lent to, transactions, which predominantly are in the core asset classes of property, aviation, finance receivables, shipping, and infrastructure.

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