Interim Management Statement

RNS Number : 3007U

Dunedin Enterprise Inv Trust PLC

13 May 2008

 

Dunedin Enterprise Investment Trust PLC (Company No SC52844) - Interim Management Statement

Dunedin Enterprise Investment Trust PLC ('Dunedin Enterprise') specialises in the provision of private equity finance.  This is an Interim Management Statement issued by Dunedin Enterprise in accordance with the Rule 4.3 of the UK Listing Authority's Disclosure Rules and Transparency Rules. This Interim Management Statement relates to the three month period from 1 January 2008 to 31 March 2008.

1.       Financial Position and Performance

 

        In the quarter to 31 March 2008, the unaudited net asset per share of Dunedin Enterprise rose from 529.5p at 31 December 2007 to 539.7p at 31 March 2008, an increase of 1.9%. The share price rose from 415.75p on 31 December 2007 to 423p on 31 March 2008, an increase of 1.7%. This compares to a decrease in the FTSE Small Cap Index ex investment companies during the same period of 11.7%. 

 

        The discount of the share price to net asset value per share rose from 21.5% on 31 December 2007 to 21.6% on 31 March 2008.

 

2.       Material Events and Transactions

 

In the quarter to 31 March 2008, Dunedin Enterprise received a total of £19.5m from:

·         recapitalisation of CGI (£11.0m),

·         recapitalisation of Capula (£2.5m),

·         deferred consideration received from the sale of Caledonian Building Systems in March 2006 (£2.4m), and

·         proceeds from realisations within the LGV4 Private Equity Fund (Classic Hospitals and Verna) and the LGV5 Private Equity Fund (IDH) totalling £3.6m.

In the quarter to 31 March 2008, Dunedin Enterprise invested £9.9m in aggregate. This primarily consisted of a re-investment in CGI of £8.5m following the business's recapitalisation. Other follow-on investments totalled £1.4m.

For further information on Dunedin Enterprise please go to www.dunedin.com

ENDS

 

END

 

 

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