Dunedin Enterprise Inv Trust PLC Realisation of Kee Safety (1462V)
November 01 2017 - 3:00AM
UK Regulatory
TIDMDNE
RNS Number : 1462V
Dunedin Enterprise Inv Trust PLC
01 November 2017
Dunedin Enterprise realisation of Kee Safety
Dunedin Enterprise Investment Trust PLC is pleased to announce
the successful realisation of its investment in Kee Safety, a
global supplier of safety solutions and products designed to
protect people from hazards. This follows completion of the
transaction first announced on 18 October 2017.
Our holding in Kee Safety was valued at GBP11.6m as at 30 June
2017, the last published valuation. Total proceeds have been
received of GBP15.8m (an uplift of GBP4.2m) consisting of capital
of GBP15.1m and income of GBP0.7m. After taking account of carried
interest accrued within Dunedin Buyout Fund III LP the uplift per
share equates to 4.4p.
The original cost of the investment made in November 2013 was
GBP6.3m and over its life a total of GBP18.8m has been received by
Dunedin Enterprise representing a 3.0 times return and an IRR of
35%.
Following the realisation of Kee Safety, the Company has cash
balances of GBP49.0m with outstanding commitments to limited
partnership funds of GBP43.5m. It is estimated that only some
GBP27m of this total outstanding commitment will be drawn over the
remaining life of the limited partnership funds.
As stated in the recent notification regarding the realisation
of Alpha FMC, a Board Meeting will be held on 16 November 2017
following which 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
DISFDUFIFFWSEFS
(END) Dow Jones Newswires
November 01, 2017 03:00 ET (07:00 GMT)
Dunedin Enterprise Inves... (LSE:DNE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Dunedin Enterprise Inves... (LSE:DNE)
Historical Stock Chart
From Apr 2023 to Apr 2024