Dunedin Enterprise Inv Trust PLC Realisation of Alpha Financial Markets Consulting (9101S)
October 06 2017 - 02:43AM
UK Regulatory
TIDMDNE
RNS Number : 9101S
Dunedin Enterprise Inv Trust PLC
06 October 2017
Dunedin Enterprise realisation of Alpha Financial Markets
Consulting plc ("Alpha")
Dunedin Enterprise Investment Trust PLC is pleased to announce
that Alpha has today announced a conditional placing and proposed
admission to trading on the LSE's AIM market on 11 October 2017. On
Admission, Dunedin Enterprise, via its interest in Dunedin Buyout
Fund III LP, will realise 100% of its holding in Alpha.
The investment in Alpha was valued at GBP9.0m as at 30 June
2017, the last published valuation. Total proceeds from the sale
will amount to GBP16.7m (an uplift of GBP7.7m, or 37.5p per share),
consisting of capital of GBP15.6m and income of GBP1.1m. The
original cost of the investment in February 2016 was GBP8.1m and,
over its life, a total of GBP16.7m will have been received by
Dunedin Enterprise representing a 2.1 times return and an IRR of
55%.
Following the realisation of Alpha, the Company will have cash
balances of GBP33.2m with outstanding commitments to limited
partnership funds of GBP38.3m. It is estimated that only some
GBP22m of this total outstanding commitment will be drawn over the
remaining life of the limited partnership funds. Following a Board
Meeting to be held on 16 November 2017, the Board intends to
announce a distribution to shareholders along with the quarterly
trading update.
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFMMGGVVRGNZG
(END) Dow Jones Newswires
October 06, 2017 02:43 ET (06:43 GMT)
Dunedin Enterprise Inves... (LSE:DNE)
Historical Stock Chart
From Feb 2024 to Mar 2024
Dunedin Enterprise Inves... (LSE:DNE)
Historical Stock Chart
From Mar 2023 to Mar 2024