UBG Unbound Group Plc

TIDMELTA

RNS Number : 3941A

Electra Private Equity PLC

24 March 2017

Electra Private Equity PLC

Special Dividend

London 24 March 2017 The Board of Electra Private Equity PLC ("Electra") is pleased to announce that it is today declaring a special dividend* of GBP1.0 billion, representing 2,612p per share, to be paid on 5 May 2017 to shareholders on the register of members at the close of business on 7 April 2017.

Estimated pro forma Net Asset Value per share as at 28 February 2017 was 5,327p, after adjusting for realisations announced since 30(th) September 2016, the tender proceeds and 2016 dividend payments.

The notice of termination of Electra's outsourced management contract has reduced the number of new investments being made and, with continued realisations, has resulted in the accumulation of significant cash. Prior to this dividend, pro-forma cash, based on transactions announced but in some cases still to complete is expected to be approximately GBP1.4bn.

As indicated in the first phase of our strategic review in October 2016, the Board believes that it is best practice to return excess capital to shareholders and will continue to monitor the Company's capital needs as part of the second phase of the strategic review. As disclosed previously, the Board intends to begin the second phase of the review in June and looks forward to engaging with its portfolio company management teams as soon as access is granted by Epiris, or on termination of the Epiris management contract on 31(st) May, and anticipates announcing the findings in the fourth quarter of fiscal 2017.

*The Special Dividend will not fall within the Dividend Reinvestment Plan

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For further information:

On behalf of Electra Private Equity PLC

Brunswick Group LLP 020 7404 5959

Gill Ackers/Kim Fletcher Electra@brunswickgroup.com

This information is provided by RNS

The company news service from the London Stock Exchange

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March 24, 2017 03:01 ET (07:01 GMT)

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