Dunedin Enterprise realises investment in Egeria

RNS Number : 5600X

Dunedin Enterprise Inv Trust PLC

11 February 2013

 

Dunedin Enterprise realises investment in Egeria

Dunedin Enterprise Investment Trust PLC ("Dunedin Enterprise" and "the Company") is pleased to announce that it has sold its entire investment and outstanding commitments in Egeria Private Equity Fund III LP ("Egeria") for a consideration of €9.7m.  The proceeds represent an uplift of €0.2m on Dunedin Enterprise's last published value at 30 September 2012.  Outstanding commitments to Egeria of €1.9m have also been released. 

This realisation continues Dunedin Enterprise's strategy of progressively refocusing the portfolio on UK lower mid-market buyouts where the Company has invested directly or through funds managed by its investment manager, Dunedin LLP.    

In view of this and recent other transactions, the Board intends to put proposals to Shareholders for the distribution of relevant amounts in accordance with Dunedin Enterprise's distribution policy.  These proposals will form part of the announcement of the Dunedin Enterprise results for the year ended 31 December 2012 which are expected to be released on or around 20 March 2013.

Dunedin Enterprise's three remaining third party managed fund investments may be held to maturity, although the Directors will consider earlier sales of all or any of those investments, together with any associated undrawn commitments, if the Directors believe that any such sales on the terms proposed are in the best interest of Shareholders as a whole.

Enquiries:

Graeme Murray / Shaun Middleton

Dunedin LLP

T: 0131 225 6699

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