BMO Private Equity Trust PLC Investment Update (2539T)
March 24 2021 - 3:00AM
UK Regulatory
TIDMBPET
RNS Number : 2539T
BMO Private Equity Trust PLC
24 March 2021
To: RNS
From: BMO Private Equity Trust PLC
Date: 24 March 2021
Investment Update
BMO Private Equity Trust PLC announces that the software company
Dotmatics, in which the Company has a holding, has entered an
agreement for its sale to US based company Insightful Science. The
transaction is expected to complete early in Q2.
The investment is led by Scotland based growth equity investor
Scottish Equity Partners (SEP) and the company is also held in SEP
Fund V. Taking both the co-investment and the holding through the
fund together, the transaction values BMO Private Equity Trust's
position at GBP37.7 million or 51 pence per share. This compares
with the last published valuation (as at 30 September 2020) of
GBP9.5 million or 13 pence per share.
There is a small rollover into the new combined entity of 12% of
the value with the remaining 88% of the value being paid in
cash.
The Company expects to release its preliminary results for the
year ended 31 December 2020 shortly.
Legal Entity Identifier: 2138009FW98WZFCGRN66
For further information please contact:
Hamish Mair (Investment Manager) 0131 718 1184
Scott McEllen (Company Secretary) 0131 718 1137
hamish.mair@bmogam.com / scott.mcellen@bmogam.com
This announcement is released by BMO Private Equity Trust PLC
and qualified as inside information for the purposes of Article 7
of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
("MAR").
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END
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