Intrum - comment

Again, it’s a question of shooting before asking. We have traded out of our 28s at 52 today and bought 25s instead at 60c/€. In the process, we have also increased our long position by an incremental 2.5% of NAV. The short on the equity has performed well. We understand from some of you that there is not much liquidity in the shares / hard to borrow, while others seem to find it. So we are keeping the short leg unchanged instead of resetting at 2% of NAV, which we would otherwise do.