Stmt re Goals Soccer Centres

Dunedin Enterprise Inv Trust PLC 02 December 2004 For Immediate Release 2 December, 2004 Dunedin Enterprise Investment Trust PLC Complete exit from Goals Soccer Centres plc upon flotation on AIM Dunedin Enterprise Investment Trust PLC ('Dunedin Enterprise' or the 'Trust'), which specialises in the provision of equity finance for management buyouts, management buyins and growing businesses, today announces that it will fully exit from its investment in Goals Soccer Centres plc ('Goals') following the flotation of Goals on the Alternative Investment Market ('AIM'). Dunedin Enterprise will receive net proceeds of £9.3 million, £4.4 million of which constitutes the redemption of loan stock. The valuation of Dunedin Enterprise's investment in Goals at 30 April 2004 was £4.6 million. This represents an uplift of £4.7 million. Goals is a leading operator of 'next generation' five-a-side soccer centres across the UK. It operates 11 centres across the UK and has established a well-progressed pipeline of sites to continue its proven roll-out concept with 15 more centres planned over the next three years. Goals centres are used by over 30,000 customers each week. Dunedin initially invested in Goals in November 2000 when it led the management buyin ('MBI') of the company. Dunedin provided equity finance and the Bank of Scotland structured an innovative debt package. Post-MBI, Dunedin took an active role in supporting and guiding the business and provided further development finance, thus allowing the business to expand from five football centres to 11. Dunedin also facilitated the introductions to Goals's Chairman Sir Rodney Walker and Vice-Chairman Graham Wilson. Goals shares have been placed with institutions and priced at 62p per share. The first day of dealings will be on Tuesday 7 December 2004. On listing, the market capitalisation of Goals will be £26 million. Brian Scouler, Director of Dunedin Capital Partners, said: 'We are very pleased that Goals has floated so successfully, allowing Dunedin Enterprise to exit fully from its investment. Goals's roll-out strategy made it an excellent fit with Dunedin's investment strategy. We wish the team well with their further roll-out plans.' ENDS For further information, please contact: Dunedin Capital Partners Limited Brian Scouler, Director 0131 225 6699 07811 262796 Goals Soccer Centres plc Keith Rogers, Managing Director 01698 28 66 33 Bill Gow, Finance Director Binns & Co PR Limited Jacqui Graves / Victoria Stephens 020 7153 1486 / 020 7153 1482 EDITORS NOTES 1 Dunedin Dunedin Capital Partners provides equity finance for management buyouts and management buyins with a transaction size of £10 million - £50 million. It is an independent private equity house, owned by the directors and staff, operating throughout the UK from offices in Edinburgh and London. Dunedin invests in established companies, in a broad range of industry sector, which demonstrate a history of sales and profit growth. It helps to define and reach the strategic goals of these investee companies whilst empowering the management teams that run them and provides additional capital for growth if required. Dunedin Capital Partners is authorised and regulated by the Financial Services Authority. 2 Goals Soccer Centres plc Keith Rogers, managing director of Goals, co-founded Anchor International Limited which opened its first 5-a-side centre in 1987. He successfully expanded the business before it was sold to 3i for £28 million in 1999. Anchor International's first site is still operating today. Following the sale of Anchor International, Keith Rogers led an MBI of an existing 5-a-side business operating five centres. This provided an opportunity to create an enhanced 5-a side concept based on strong branding, convenient locations and high quality facilities. This information is provided by RNS The company news service from the London Stock Exchange
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