Portfolio Update
Dunedin Enterprise Investment Trust PLC
LEI: 213800E2VLUZ5AF9Z434
Date: 13 October 2021
Partial realisation of Global Processing Services ("GPS")
Dunedin Enterprise Investment Trust PLC is pleased to announce that Dunedin Buyout Fund III LP has entered into a legally binding agreement for the partial realisation of its investment in GPS, a market leader in payment processing technology.
The investment in GPS was valued at £16.1m at 30 June 2021. Proceeds from the partial sale will amount to £18.2m, consisting of capital of £16.0m and income of £2.2m. In addition, £5.9m will be rolled into a GPS newco resulting in a total consideration of £24.1m. This represents an uplift of £8m on the 30 June 2021 valuation, equivalent to 44.1p per share.
The transaction is subject to regulatory approval and is expected to complete by the end of 2021. The effect of the transaction will be reflected in the net asset value as at 30 September 2021, which is due to be published on or around 1 November 2021.
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