Dunedin Enterprise Inv Trust PLC Statement re Return of Capital (2496C)
28 September 2018 - 4:01PM
UK Regulatory
TIDMDNE
RNS Number : 2496C
Dunedin Enterprise Inv Trust PLC
28 September 2018
Dunedin Enterprise Investment Trust PLC (Company No SC52844)
LEI: 213800E2VLUZ5AF9Z434
Third Return of Capital via the issue of B Shares
We are pleased to announce the successful realisation of
Pyroguard, the specialist fire resistant glass manufacturer. Total
proceeds from the sale amounted to GBP9.3m representing an uplift
of GBP0.4m over the valuation of GBP8.9m at 31 March 2018. The
original cost of the investment was GBP3.8m and over its life, a
total of GBP22.5m has been received by Dunedin Enterprise,
representing a 5.9 times return and an IRR of 35%.
Following the realisation of Pyroguard the Board has decided to
return GBP10.3m to shareholders via an issue of B Shares as set out
in the Circular sent to shareholders on 3 April 2017 and as
approved by shareholders on 11 May 2017. This follows the first
issue of B Shares in December 2017 which returned GBP20.6m of
capital to shareholders and a second issue of B Shares in February
2018 which returned GBP10.3m of capital to shareholders.
B Shares of 50p each will be paid up from capital and issued to
all shareholders by way of a bonus issue pro-rata to their holding
of Ordinary Shares on the basis of one B Share for every one
Ordinary Share held at the record date of 6.00pm on 8 October 2018.
The B Shares will be issued on 9 October 2018 and immediately
redeemed at 50p per B Share. The Ordinary Shares will trade ex-B
Share entitlement with effect from 5 October 2018.
The proceeds from the redemption of the B Shares will be sent to
shareholders on 23 October 2018, either through CREST to
uncertificated shareholders or via cheque to certificated
shareholders.
A copy of the Circular sent to Shareholders is available on the
Company's website (www.dunedinenterprise.com). Also available on
the website is a Guide to the B Share Scheme which includes an
illustration for the computation of the chargeable gain on the B
Shares for tax purposes.
This announcement contains inside information for the purposes
of article 7 of EU Regulation 596/2014. Upon publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information, please contact:
Dunedin LLP, Company Secretary
Telephone: 0131 225 6699
For further information on Dunedin Enterprise, please go to
www.dunedinenterprise.com
28 September 2018
END
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END
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