Eurocastle Releases First Quarter 2025 Interim Management Statement, Release of Liquidation Reserves and Notice of Annual General Meeting

Core Insights - Eurocastle Investment Limited has released its interim management statement for Q1 2025, highlighting a sustainable growth platform with over €61 million in investor commitments for its New Investment Strategy [2][9] - The Board has released €4.6 million of liquidation reserves, resulting in a net increase to the Company's Adjusted NAV of €4.0 million, or €4.01 per share after incentive fees [2][4] Financial Performance - As of 31 March 2025, the Company's Adjusted NAV stands at €11.44 million, or €11.43 per share, compared to €11.34 per share in Q4 2024 [4][16] - Total income for Q1 2025 was €194,000, an increase from €141,000 in Q1 2024, driven by unrealized fair value movements in the New Investment Strategy [14] - The Company reported a loss of €42,000 for the period, improving from a loss of €106,000 in the same quarter of the previous year [14] Investment Strategy - Eurocastle's New Investment Strategy, launched in 2024, focuses on acquiring small to mid-size real estate assets in Southern Europe, with a target fund size of €100 million [7][19] - The European Properties Investment Fund (EPIF) has invested approximately €7 million, with Eurocastle's share valued at €5.9 million as of 31 March 2025 [8][9] - EPIF completed its second investment in June 2025, acquiring a 70% interest in a vacant office property in Athens for approximately €1 million [10] Reserves and Liabilities - As of 31 March 2025, the Company holds total additional reserves of €10.6 million, with €6.0 million related to a legacy German tax matter [13][12] - The Company has fully reserved a potential liability of €6.0 million related to ongoing tax audits, reflecting a cautious approach to future costs [11][12] Upcoming Events - The Annual General Meeting is scheduled for 5 August 2025, where shareholders will receive notices and proxy statements by 14 July 2025 [17]