Information  X 
Enter a valid email address

Literacy Capital PLC (BOOK)

  Print   

Tuesday 10 August, 2021

Literacy Capital PLC

Portfolio Update

RNS Number : 0767I
Literacy Capital PLC
10 August 2021
 

The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area, Canada, Australia, Japan or the Republic of South Africa.

 

This announcement contains inside information.

 

10 August 2021

 

Literacy Capital plc ("Literacy Capital" or the "Company")

 

Butternut Box raises new funding, generating an estimated 7.1%, or 13p per share, uplift in NAV

 

Portfolio update

 

Literacy Capital is pleased to announce that Butternut Box, a business providing healthy, fresh dog food on a subscription to dog owners' doors, has finalised a funding round to raise further equity to support the continued growth of the business.

 

As at 30 June 2021, Butternut Box was Literacy Capital's 3rd largest underlying investment and represented 5.8% of NAV.

 

The transaction values Butternut Box at a 122% uplift to its carrying value at 30 June 2021, the estimated uplift from this transaction relative to Literacy Capital's net asset value at 30 June 2021 is approximately 7.1%, or 13p per share.

 

Had Butternut Box been valued at this valuation at 30 June 2021, the Company estimates that Literacy Capital's net asset value per share at that date would have been 196.1p.

 

The transaction legally completed yesterday evening with funding committed and due to follow shortly. Literacy Capital will not receive any cash consideration nor invest as part of this funding round and therefore the number of shares it owns will remain unchanged.

 

Enquires

 

Singer Capital Markets Securities Limited:

 

Robert Peel / Amanda Gray

+44 (0) 20 7496 3000

 

Literacy Capital plc / Literacy Capital Asset Management LLP:

 

Tom Vernon

+44 (0) 20 3960 0280

 

LEI: 2549006P3DFN5HLFGR54

 

A copy of this announcement will be available on the Company's website at www.literacycapital.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
PFUDGGDIUSGDGBC

a d v e r t i s e m e n t