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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Neptune-Calc | LSE:NEP | London | Ordinary Share | GB00B0523M32 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 22.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMNEP TIDMTTM
RNS Number : 4988A
Neptune-Calculus Income &Growth VCT
22 December 2014
Realisation of investment in Waterfall Services Limited
The Board of Neptune-Calculus Income and Growth VCT plc (the "Company") is pleased to announce the sale on 22 December 2014 of the Company's investment in Waterfall Services Limited ("Waterfall") to a company owned by the existing management team and backed by LDC.
The Company is receiving cash proceeds for its equity holding of approximately GBP1.9m resulting in a gain of approximately GBP1.3 million, equivalent to approximately 12p per share, compared with the carrying value of GBP568,387 disclosed in the Company's half yearly report for the six months to 30 June 2014.
The Company originally paid GBP50,129 for the equity in Waterfall and GBP450,000 for preference shares and loan stock which were redeemed in 2011 and 2013 respectively.
This realisation results in total cash being received for equity, preference shares and loan stock (including dividends and interest) of approximately GBP2.6m by the Company over the life of the investment, representing 5.3 times the Company's original investment of GBP0.5m.
The directors are considering options for the use of the proceeds and more details will be given in the New Year.
Waterfall is one of the UK's leading independent contract catering companies, with particularly strong positions in the education and care and welfare markets. Neptune-Calculus Income and Growth VCT plc made the investment in Waterfall in 2007.
For further information, please contact:
Lesley Watkins, Calculus Capital Limited: 020 7493 4940
This information is provided by RNS
The company news service from the London Stock Exchange
END
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