Sale of SAV Credit (Replacement)

RNS Number : 5086R

Electra Private Equity PLC

04 November 2011

 



The 'Sale of SAV Credit' announcement released today at 07:00 under RNS No 4802R, should have been issued under the Company name of Electra Private Equity PLC and not under the Company name of Electra Private Equity Invest PLC.

The announcement text is unchanged and is reproduced in full below.

Electra Completes the Sale of SAV Credit

4 November 2011

Further to the announcement on 27 September, Electra Private Equity PLC ("Electra") is pleased to announce the completion of the sale of its interest in specialist credit card provider, SAV Credit ("SAV"), to Värde Partners.

Electra has received proceeds of £40.8 million which, based on the 31 March 2011 valuation of SAV, gives rise to an uplift in diluted NAV per share of 58p, and a return of 1.7x on cost.

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