LONDON, March 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 February 28, 2013(Amounts provided are unaudited and subject to change)
(in millions except per share data) Estimated Fair Value of Investments: $1,381.4 Cash and Cash Equivalents: $205.3 Net Other Assets / (Liabilities): $38.4 Estimated Net Asset Value: $1,625.1 TFG Legal Shares Issued and Outstanding: 133.7 U.S. GAAP Net Asset Value per Share: (2)(4) $16.54 Pro Forma Fully Diluted Net Asset Value per Share: (3)(4) $14.59(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 98.3 million), which is determined by reducing TFG legal shares issued and outstanding by approximately 7.1 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 111.4 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 1.3 million) (the "Investment Management Options") (see the December 2012 monthly supplement for additional information on the Investment Management Options share number calculation). (4) U.S. GAAP NAV per Share and Pro Forma Fully Diluted NAV per Share was reduced by $0.135 in February 2013 to reflect the approval of the quarterly dividend relating to Q4 2012. INVESTMENT COMPOSITION: