Tetragon Financial Group Limited (TFG) Monthly Update For January 2013
LONDON, February 20, 2013 /PRNewswire/ --
Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended investment company traded on the NYSE Euronext in Amsterdam under the ticker symbol "TFG".
In this monthly update, unless otherwise stated, we report on the consolidated business incorporating TFG and Tetragon Financial Group Master Fund Limited. ( 1 )
Net Asset Value Estimates as of January 31 2013(Amounts provided are unaudited and subject to change)
(in millions except per share data) Estimated Fair Value of Investments: $1,351.8 Cash and Cash Equivalents: $283.3 Net Other Assets / (Liabilities): $(4.3) Estimated Net Asset Value: $1,630.8 TFG Legal Shares Issued and Outstanding: 133.7 U.S. GAAP Net Asset Value per Share: (2) $16.53 Pro Forma Fully Diluted Net Asset Value per Share: (3) $14.54-------------------------------------------------- 1) TFG invests substantially all its capital through a master fund, Tetragon Financial Group Master Fund Limited ("TFGMF") in which it holds a 100% share. 2) Calculation is with reference to U.S. GAAP Shares outstanding (approximately 98.7 million), which is determined by reducing TFG legal shares issued and outstanding by approximately 6.6 million shares held in treasury, 16.6 million shares held by a subsidiary and 11.8 million shares held in escrow. 3) Calculation is with reference to pro forma fully diluted Shares outstanding (approximately 112.1 million), which is determined by adding to U.S. GAAP Shares outstanding, shares held in escrow of 11.8 million and the number of shares corresponding to the applicable intrinsic value of the options issued to the Investment Manager at the time of the company's IPO (approximately 1.6 million) (the "Investment Management Options") (see the December 2012 monthly supplement for additional information on the Investment Management Options share number calculation). The impact of the Investment Management Options (as the exercise price of the options was above the strike price at January 2013 month-end) was to reduce pro forma fully diluted NAV per share by approximately $0.22 compared to what it otherwise would have been. INVESTMENT COMPOSITION:
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