PGC
12/06/2014 12:24
GENERAL
REL: 1224 HRS Pyne Gould Corporation Limited
GENERAL: PGC: Media report wrong - Torchlight Fund LP not in receivership
12 June 2014
Media report wrong - Torchlight Fund LP not in receivership
Pyne Gould Corporation ("PGC") says that media reports that the Torchlight
Fund LP is in receivership is wrong.
An old shell - Torchlight Fund No.1 LP - is in receivership. The receivership
is being challenged and likely to be subject of commercial litigation. It
relates to a dispute over a loan where the principal has been fully repaid
but the parties cannot agree on the amount and timing of any residual
payments.
This is not the Torchlight Fund LP.
PGC's subsidiary Torchlight Group owns the manager of the Torchlight Fund LP
and is also a cornerstone investor in it.
The Fund has significant investments in hotels and entertainment, property
and media assets in Australia and the United Kingdom.
For more information, please contact:
David Lewis +64-21-976 119
End CA:00251509 For:PGC Type:GENERAL Time:2014-06-12 12:24:05
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