Electra Private Equity PLC Epiris sells remaining stake in Hollywood Bowl (8965B)

TIDMELTA

RNS Number : 8965B

Electra Private Equity PLC

07 April 2017

PRESS RELEASE

7 April 2017

Epiris sells remaining stake in Hollywood Bowl

Further to the announcement this morning by Investec Bank plc in relation to Hollywood Bowl Group plc ("Hollywood Bowl"), the UK's largest ten-pin bowling operator, Epiris confirms it has sold its remaining shares in Hollywood Bowl.

Electra Private Equity PLC ("Electra") is due to receive proceeds of GBP40 million from the sale. This represents a small decrease in Electra's NAV on the valuation of the investment at 30 September 2016. Inclusive of proceeds already received, this equates to a total equity return for Electra's investment in Hollywood Bowl of 3.9x original cost; an IRR of 92%.

Epiris refers to Epiris Managers LLP acting on behalf of its client Electra Private Equity PLC.

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For further information please contact:

Andrew Honnor, Matthew Goodman, Matthieu Roussellier, Greenbrook Communications [phone]

Andrew Kenny and Nicholas Board, Epiris [phone]

Note to Editors:

About Epiris LLP

Epiris is a top-decile private equity fund manager*.

Epiris, together with its predecessor firms, has managed the business and affairs of Electra Private Equity PLC, a listed private equity investment trust, for four decades. Epiris has also managed private equity investment programmes for pension funds, financial institutions and family offices. During this time Epiris has invested in excess of GBP5 billion in over 200 deals. Since 2011, Epiris has invested GBP1 billion in buyouts and co-investments and loan-to-own debt investments, in respect of which it has delivered a gross IRR of 39%**.

As at 30 September 2016, the firm had funds under management of GBP2.4 billion.

For further information please visit www.epiris.co.uk.

Issued by Epiris Managers LLP which is authorised and regulated by the Financial Conduct Authority.

* Refers to the 2009 and 2012 investment pools comprising Buyout & Co-investment, Secondary and Debt investments managed on behalf of Electra Private Equity PLC; comparator data supplied by Preqin.

** As at 30 September 2016 adjusted for subsequent investments and realisations. Gross IRR does not reflect adjustments for investment management and administration costs. Past performance is no guarantee of future results.

This is not an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or an exemption from registration. Any investment in any Epiris fund shall be qualified in its entirety by the terms and conditions of that fund's offering materials including any prospectus.

This information is provided by RNS

The company news service from the London Stock Exchange

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April 07, 2017 02:42 ET (06:42 GMT)