Portfolio Update
Dunedin Enterprise Investment Trust PLC ("the Company")
Date: 15 December 2021
LEI: 213800E2VLUZ5AF9Z434
Global Processing Services ("GPS") partial realisation
Dunedin Enterprise Investment Trust PLC ("DENT") is pleased to announce that regulatory approval has now been granted for the partial realisation of GPS. GPS is a market leader in payment processing technology . The investment in GPS is held via DENT's interest in Dunedin Buyout Fund III LP ("DBFIII").
At 30 September 2021 the investment in GPS was valued at 24.1m.
Proceeds now received from the transaction amount to 18.2m, consisting of capital of 15.8m and income of 2.4m. In addition, £5.9m has been rolled into GPS Newco. DENT will retain a 1.5% interest in GPS Newco.
The cash received by DENT will be net of a carried interest payment arising in DBFIII of £3.8m. This carried interest payment was accrued for in the net asset value at 30 September 2021.
For further information please contact:
Dunedin LLP
Graeme Murray 07813138367
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