ASTO Assetco Plc

TIDMASTO

RNS Number : 0639T

AssetCo PLC

15 July 2015

Issued on behalf of AssetCo plc

Immediate Release

Wednesday, 15 July 2015

AssetCo plc

("AssetCo" or the "Group" or the "Company")

Director dealing

The Company was notified yesterday that on 13 July 2015 the directors, as detailed below, received a total of 70,313 ordinary shares of 10p each ("Ordinary Shares") in the Company from Trident Private Equity Fund II LP ("TPE2").

TPE2 was formed in 2005 and is a 10 year limited life fund. Following the disposal of its holding in AssetCo TPE2 will be placed into voluntary liquidation. Harwood Capital LLP ("Harwood") is the investment adviser to TPE2. In anticipation of the liquidation, TPE2 investors were offered the option of a cash payment of GBP2.50 per Ordinary Share by North Atlantic Smaller Companies Investment Trust plc ("NASCIT"), another fund managed by Harwood, or via an in specie distribution of Ordinary Shares to discretionary managed private client accounts of Harwood.

 
 Situation prior to TPE2 distribution 
----------------------------------------  --------------  ------- 
 Harwood breakdown                                Shares   % held 
----------------------------------------  --------------  ------- 
 NASCIT                                        2,650,000   21.70% 
----------------------------------------  --------------  ------- 
 TPE2                                          1,250,000   10.24% 
----------------------------------------  --------------  ------- 
 Oryx International Growth Fund Limited        1,050,000    8.60% 
----------------------------------------  --------------  ------- 
 Discretionary managed private clients 
  under Harwood Capital LLP                      965,779    7.91% 
----------------------------------------  --------------  ------- 
 Harwood Capital total holding                 5,915,779   48.45% 
----------------------------------------  --------------  ------- 
 
 Situation post the TPE2 distribution 
----------------------------------------  --------------  ------- 
 Harwood breakdown                                Shares   % held 
----------------------------------------  --------------  ------- 
 NASCIT                                        3,457,500   28.31% 
----------------------------------------  --------------  ------- 
 Oryx International Growth Fund Limited        1,050,000    8.60% 
----------------------------------------  --------------  ------- 
 Discretionary managed private clients 
  under Harwood Capital LLP                    1,408,279   11.53% 
----------------------------------------  --------------  ------- 
 Harwood Capital total holding                 5,915,779   48.45% 
----------------------------------------  --------------  ------- 
 

Following the distribution by TPE2, Harwood holds and manages the same amount of shares as previously advised, being 5,915,779 Ordinary Shares, representing 48.45 per cent of the Company's issued share capital.

Director dealing

Both Tudor Davies, Chairman of the Company and Christopher Mills, Non-Executive Director of the Company, are limited partners of TPE2. Both have elected to transfer shares in specie to the discretionary managed private client accounts of Harwood.

Tudor Davies, Chairman of the Company, transferred 7,813 Ordinary Shares to a discretionary managed private client account of Harwood. Following this transaction, Mr Davies's interest in the Company is 32,813 Ordinary Shares, representing 0.27 per cent of the Company's issued share capital.

Christopher Mills, Non-Executive Director of the Company, transferred 62,500 Ordinary Shares to a discretionary managed private client account of Harwood. Following this transaction, Mr Mill's interest in the Company* remains unchanged at 5,915,779 Ordinary Shares, representing 48.45 per cent of the Company's issued share capital.

*Christopher Mills as Chief Executive and a member of Harwood Capital LLP is deemed to have an interest in 5,915,779 shares owned by various funds associated with Harwood Capital LLP.

 
 Enquiries: 
 Tudor Davies,    John Llewellyn-Lloyd   Fiona Tooley 
  Chairman         / Ciaran Walsh 
 AssetCo plc      Arden Partners plc     TooleyStreet Communications 
 Tel: +44 (0)     Tel:+44 (0) 20 7614    Mobile: +44 (0) 
  7785 703523      5900                   7785 703 523 
  or +44 (0) 20                           Email: fiona@tooleystreet.com 
  7614 5900 
 
   Ticker AIM: 
   ASTO.L 
 

AssetCo, is principally involved in the provision of management and resources to the fire and emergency services in the Middle East. For further details, visit the website, www.assetco.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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