HgCapital Trust PLC HgCapital Trust invests in The Access Group (5205C)
20 October 2020 - 5:00PM
UK Regulatory
TIDMHGT
RNS Number : 5205C
HgCapital Trust PLC
20 October 2020
Hg, the Manager of HgCapital Trust plc ("HGT"), today announces
a further investment in The Access Group, a leading provider of
business management software to mid-market organisations.
Financial terms of the transaction, which is subject to
customary regulatory approvals and is expected to close in the
first calendar quarter of 2021, were not disclosed.
Note that The Access Group will shortly be making an
announcement regarding its performance for the fiscal year ended
June 30, 2020 on their website :
https://www.theaccessgroup.com/company/news/
HgCapital Trust plc will invest approximately GBP38.8 million in
The Access Group, with other institutional clients of Hg investing
alongside HGT through the Hg Genesis 8 Fund.
HGT, whose shares are listed on the London Stock Exchange, gives
private and institutional investors the opportunity to participate
in all Hg's investments.
Note that these figures only relate to HGT's share of Hg's
overall investment in The Access Group.
HGT's liquid resources available for future deployment
(including all announced transactions and the interim dividend
payable in October 2020) are estimated to be GBP159 million (14% of
the 31 August 2020 pro-forma NAV of GBP1.16 billion, including the
increase in equity via tap equity issues over the third quarter of
2020). In addition, HGT has access to an GBP200 million standby
facility, which is currently undrawn.
The investment will reduce HGT's outstanding commitments to
invest in Hg transactions to approximately GBP720 million (62% of
the 31 August 2020 pro-forma NAV).
For further details:
Hg
Laura Dixon +44 (0)20 8396 0930
Brunswick
Samantha Chiene +44 (0)207 404 5959
About HgCapital Trust plc
HgCapital Trust plc, whose shares are listed on the London Stock
Exchange (ticker: HGT.L), gives investors exposure through a liquid
vehicle to a portfolio of high-growth private companies in the
software and services sector. The selection of new investments and
creation of value in these businesses are managed by Hg, an
experienced and well-resourced private equity firm with a long-term
track record of delivering superior risk-adjusted returns for its
investors. For further details, please see www.hgcapitaltrust.com
.
The contents of the Hg, HGT and Access websites are not
incorporated into, and do not form part of, this announcement.
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END
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