Oakley completes sale of investment in Inspired

RNS Number : 1360J

Oakley Capital Investments Limited

08 April 2020

 

08 April 2020

Oakley Capital Investments Limited

Oakley completes sale of remaining investment in Inspired

· Proceeds:  OCI's share of net proceeds is approximately £99 million  · NAV increase:  The sale results in a NAV uplift of 10 pence per share

Oakley Capital Investments Limited¹ (the "Company" or "OCI"), announces that it has completed the sale of its remaining stake in Inspired. OCI had invested in Inspired through its holding in Oakley Capital Private Equity II ("Fund II")² and also held a direct stake in the business.

As part of the transaction, both Fund II and OCI have sold down their stakes in full, following partial realisations in 2019 and 2017. OCI's share of net proceeds, from both its direct and indirect stakes, is £ 99 million (EUR:GBP 1.13), adding approximately 10 pence to the NAV per share compared to the December 2019 position. On a combined basis, the net proceeds represent a 25% uplift to the 31 December carrying value. Following the receipt of proceeds, OCI will have cash of approximately £250 million. This represents approximately 128 pence per share and 36% of NAV as at 31 December 2019.

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For further information please contact:

Oakley Capital Limited

[phone]

Steven Tredget, Investor Relations

Greenbrook Communications Limited

[phone]

Alex Jones / Gina Bell / James Williams

Liberum Capital Limited (Financial Adviser & Broker)

[phone]

Gillian Martin / Owen Matthews

Notes:

This announcement contains inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014.

LEI Number: 213800KW6MZUK12CQ815

¹  About Oakley Capital Investments Limited ("OCI")

OCI is a Specialist Fund Segment ("SFS") traded investment vehicle, which provides access to the Oakley Funds². It is a liquid vehicle that aims to provide capital growth and dividends to investors.

² The Oakley Funds

Oakley Capital Private Equity L.P. and its successor funds, Oakley Capital Private Equity II, Oakley Capital Private Equity III and Oakley Capital IV, are unlisted mid-market private equity funds with the aim of providing investors with significant long-term capital appreciation. The investment strategy of the funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement.

The Investment Adviser

Founded in 2002, Oakley Capital Limited has demonstrated the repeated ability to source attractive growth assets at attractive prices. To do this it relies on its sector and regional expertise, its ability to tackle transaction complexity and its deal generating entrepreneur network.

Important information

Specialist Fund Segment securities are not admitted to the Official List of the Financial Conduct Authority. Therefore the Company has not been required to satisfy the eligibility criteria for admission to listing on the Official List and is not required to comply with the Financial Conduct Authority's Listing Rules. The London Stock Exchange has not examined or approved the contents of the Prospectus.

The Specialist Fund Segment is intended for institutional, professional, professionally advised and knowledgeable investors who understand, or who have been advised of, the potential risk from investing in companies admitted to the Specialist Fund Segment.

 

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