Oakley Capital Investments Limited Trading Update (7894V)
26 July 2018 - 4:00PM
UK Regulatory
TIDMOCI
RNS Number : 7894V
Oakley Capital Investments Limited
26 July 2018
26 July 2018
Oakley Capital Investments Limited
Trading update for the six months ended 30 June 2018
Oakley Capital Investments Limited(1) (AIM: OCI, the "Company")
which provides its shareholders with access to a portfolio of high
quality companies through its investments in the Oakley Funds(2) ,
today announces a trading update for the six months ended 30 June
2018.
NAV Range
The Company's net asset value is estimated to be in the range of
GBP524m - GBP530m, which represents a NAV per share of GBP2.56 -
GBP2.59, compared with GBP2.45 per share reported at 31 December
2017.
Performance
There have been positive revaluations in the underlying
portfolio across Oakley's three core sectors: digital consumer, TMT
and education. Uplifts have been driven by the portfolio companies'
continued ability to exhibit strong performance and growth in
profitability. The uplift in NAV was offset by 12 pence due to a
fall in the share price of Time Out Group Plc during the period.
Time Out continues to make progress and its Board remain confident
of meeting their strategic and financial goals.
Realisations
During the period OCI has benefitted from the realisations of
Parship Elite, Verivox and Facile, which generated a combined gross
money multiple of 3.9x and returned GBP102.3 million to OCI. These
exits reflect Oakley's continued success in the digital consumer
space as well as its ability to create value and identify long term
attractive assets. The realisations were at a combined 39% premium
to the OCI's year-end look through value and increased the
Company's NAV by 14 pence.
Investments
In the six months to 30 June 2018, OCI invested GBP62.1 million
via the Oakley Funds, primarily relating to the acquisition of
Career Partner Group and the reinvestment in Facile, as well as a
follow-on investment in North Sails.
This announcement contains inside information.
- ends -
For further information please contact:
Oakley Capital Investments Limited
+44 20 7766 6900
Steven Tredget, Investor Relations
Greenbrook Communications Ltd
+44 20 7952 2000
Alex Jones / Matthew Goodman / Gina Bell
Liberum Capital Limited (Nominated Adviser & Broker)
+44 20 3100 2000
Gillian Martin / Jill Li
(1) About Oakley Capital Investments Limited ("OCI")
Oakley Capital Investments Limited is a Bermudian company listed
on AIM. OCI seeks to provide investors with long term capital
appreciation through its investment in Oakley Capital Private
Equity L.P., Oakley Capital Private Equity II, Oakley Capital
Private Equity III and through co-investment opportunities.
LEI Number: 213800KW6MZUK12CQ815
(2) About Oakley Capital Private Equity L.P. ("Fund I"), Oakley
Capital Private Equity II ("Fund II") and Oakley Capital Private
Equity III ("Fund III")
Oakley Capital Private Equity L.P. and its successor funds,
Oakley Capital Private Equity II and Oakley Capital Private Equity
III, are unlisted mid-market private equity funds with the aim of
providing investors with significant long term capital
appreciation. The investment strategy of the funds is to focus on
buy-out opportunities in industries with the potential for growth,
consolidation and performance improvement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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