Foresight 4 VCT Plc Foresight 4 Vct Plc : Sale Of Trilogy Communications Holdings Limited

 
TIDMFTF 
 
 
   FORESIGHT VCT PLC and FORESIGHT 4 VCT PLC: SALE OF TRILOGY 
COMMUNICATIONS HOLDINGS LIMITED 
 
   Foresight Group ("Foresight") is pleased to announce, on behalf of the 
Boards of Foresight VCT plc and Foresight 4 VCT plc, that it has 
completed the successful sale of Andover headquartered Trilogy 
Communications Holdings Limited ("Trilogy") to California based 
Clear-Com LLC ("Clear-Com"), realising investments held by Foresight VCT 
plc (Ordinary Share Class), Foresight VCT plc (Planned Exit Share Class) 
and Foresight 4 VCT plc (together the "Foresight Funds"). 
 
   Trilogy designs and sells market leading, real time video and audio 
solutions for the broadcast and defence markets, globally. 
 
   Clear-Com have a synergistic offering and expect the acquisition to 
strengthen their presence in the broadcast market and accelerate their 
penetration in the defence and industrial sectors. 
 
   Under the terms of the transaction, the Foresight Funds are expected to 
receive the following consideration: 
 
 
 
 
Foresight Funds                Carrying value (GBP)  Total consideration (GBP) 
Foresight VCT plc (Ordinary 
 Share Class)                               337,264                    797,545 
Foresight VCT plc (Planned 
 Exit Share Class)                          799,029                  1,904,843 
Foresight 4 VCT plc                          81,107                    191,719 
Total                                     1,217,400                  2,894,107 
 
 
   Of the total consideration above, up to GBP305,197 is payable after 12 
months subject to any warranty claims and the achievement of certain 
performance objectives, and a further GBP504,332 by February 2019 
subject to any tax claims. 
 
   Matt Smith, Foresight Director, commented, "We are delighted to have 
supported Trilogy and its management team. From its headquarters in 
Andover, the Company has built a global customer base spanning defence, 
industrial and broadcast markets. Foresight worked closely with the 
Company to find the right strategic fit and we are confident Clear-Com 
will support Trilogy and its customers in the next phase of the 
Company's development." 
 
   Trilogy's Executive Chairman, Martin Peck, said, "Trilogy has long 
demonstrated product excellence in the specialized communication domain 
and is well-known for its respected customer service. Clear-Com is 
recognized for its product breadth, technical innovation, and impressive 
support and service network worldwide. There is obvious synergy between 
the two companies which the two companies will together exploit to find 
innovative ways to help our mutual customers. We are excited to be part 
of this world-class organization." 
 
   Mitzi Dominguez, CEO of Clear-Com, said "Both companies have been 
serving the professional intercom business for decades and bring a 
wealth of industry knowledge to the marketplace. The efforts of our 
combined teams will deliver tremendous added value to customers all over 
the world and will create new business opportunities for both companies. 
We extend a warm welcome to all Trilogy employees and customers." 
 
   Foresight VCT plc (Planned Exit Share Class) is currently in its 
realisation and distribution phase. 
 
   For further information, please contact: 
 
   Gary Fraser: [e-mail] / 0203 667 8100 
 
   Ben Thompson: [e-mail] / 020 3667 8155 
 
   ENDS 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Foresight 4 VCT PLC via Globenewswire 
 
   HUG#2033479 
 
 
  http://www.foresightgroup.eu/ 
 

(END) Dow Jones Newswires

August 05, 2016 04:15 ET (08:15 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.