Trinity Capital PLC Disposal of assets (1017N)

TIDMTRC

RNS Number : 1017N

Trinity Capital PLC

21 October 2016

TRINITY CAPITAL PLC

(the "Company")

Disposal of Assets

The Board of Trinity Capital PLC (the "Company") is pleased to announce that on 20 October 2016, an agreement was signed with Immobilien Development Indien I GmbH & Co. KG and Immobilien Development Indien II GmbH & Co. KG and their associated parties (together the "Immobilien Funds") which, if and when fully implemented, should facilitate the realisation of all of the Company's remaining investments held jointly with the Immobilien Funds.

Under the terms of the agreement, the Company will, subject to fulfilment of various conditions precedent, dispose of its investments in Trinity Capital (One) Limited ("TC-1") and Trinity Capital (Five) Limited ("TC-5") held by its wholly owned subsidiary Trinity Capital Mauritius Limited ("TCML") in return for a payment of INR720,000,000 (currently equivalent to approximately GBP8.8 million). The Immobilien Funds will also permit and facilitate Trinity Capital (Ten) Limited ("TC-10") to distribute to TCML the proceeds from a future sale of the indirect interests held in DB (BKC) Realtors Private Limited (formerly MK Malls & Developers Private Limited). As part of the agreement the parties will discontinue pending legal proceedings.

The agreement requires that the disposals of TC-1 and TC-5 be concluded within eight weeks, failing which it will terminate.

The Company will make a further announcement to Shareholders as and when it has further clarity regarding the completion of the disposals of assets.

Enquiries:

 
 FIM Capital Limited 
 Graham Smith                    [phone] 
 
 Arden Partners 
 Nominated Adviser and Broker 
                                  [phone] 
 Chris Hardie                      5900 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 21, 2016 02:00 ET (06:00 GMT)