Income & Growth VCT (The) PLC Realisation of investment in Gro-Group (1241B)
05 January 2018 - 11:38PM
UK Regulatory
TIDMIGV
RNS Number : 1241B
Income & Growth VCT (The) PLC
05 January 2018
The Income & Growth VCT plc ("I&G VCT" or the
"Company")
Realisation of investment in Gro-Group Holdings Limited
05 January 2018
The Company is pleased to announce the sale of Gro-Group
Holdings Limited, in which the Company held an 18.1% equity
interest, to a trade purchaser for consideration of GBP22 million,
on a debt free and cash free basis. GBP4.19 million has been
received in cash by the Company following completion, while up to
GBP0.14 million in deferred consideration is potentially payable
over approximately the next 12 months.
The realisation of this investment has resulted in an increase
in the Company's Net Asset Value ('NAV') of an estimated 1.68 pence
per share over the latest announced NAV per share of 81.24 pence at
30 September 2017.
Upon completion and excluding deferred consideration, this
transaction delivered the Company a realised gain over cost of
GBP1.80 million, being 1.90 pence per share.
For further information, please contact:
Robert King, for Mobeus Equity Partners LLP, Company Secretary
020 7024 7600
This information is provided by RNS
The company news service from the London Stock Exchange
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January 05, 2018 07:38 ET (12:38 GMT)
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