Threat Protect Notes have been sold.
First Samuel has secured a buyer for these securities, facilitating the return of capital in line with the current pricing.
Debt in Moreton Resources (Moreton Notes, Moreton Convertible Notes) has been sold for a nominal amount.
The sale of these securities, whose value had been written down to nil, allows for a realisation event for clients and crystallisation of the position (which will release associated tax losses).
These debt instruments varied in their terms and structure.
While the majority of the instruments have been sold, a small proportion relating to the funding of the Administration process will be retained. This outstanding amount has been assessed to have a higher prospect for recovery– and will continue to be held at the cost.