Sale of remaining stake in notonthehighstreet.com

RNS Number : 1776U

Spark Ventures PLC

28 November 2013

 



SPARK Ventures plc

("SPARK" or the "Company")

Sale of remaining stake in notonthehighstreet.com ("noths")

SPARK Ventures announces the sale of its remaining stake in noths for net cash proceeds of £11.0m, thus substantially increasing the Company's cash balances. This brings SPARK's total returns to £12.8m from an initial investment of £0.7m in 2007/8, a multiple of 18 times the initial investment, an IRR of 65% and an 8% uplift to the previously disclosed book value.

The investors are a specialist US fund together with some existing noths shareholders.

For further information, please contact:

SPARK Venture Management Ltd / SPARK Ventures plc	Thomas Teichman  / Andrew Betton	020 7851 7777
Notonthehighstreet.com	James Devas, The Maitland Consultancy	020 7379 5151
finnCap	Matt Goode / Christopher Raggett	020 7220 0500

 

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