Acuity VCT 3 PLC : Sale of Investment

 
TIDMAQT3 
 
ACUITY VCT 3 VCT PLC: SALE OF INVESTMENT 
 
2 February 2012 
 
Disposal of investment in Factory Media Limited 
 
The Board of Acuity VCT 3 plc are pleased to announce that the Company has sold 
its investment in Factory Media Limited to Forward Internet Group Limited 
("FIG"). FIG is a privately owned European business, which operates a portfolio 
of brands and digital media assets. 
 
FIG has acquired equity in Factory Media and repaid existing loans from 
shareholders including Acuity VCT 3 plc and Foresight 5 VCT plc. Subject to 
working capital adjustments, Acuity VCT 3 plc will receive c. GBP4.0m from the 
transaction (including loan repayments), compared to a last reported carrying 
value on 30 September 2011 of c. GBP3.7m and original cost of c. GBP1.9m. All other 
things being equal, this equates to a NAV uplift of approximately 0.7p and a 
return of over two times the original cost of investment. In addition, further 
consideration is held in escrow and, subject to various other conditions, a 
further c. GBP0.5m may be released to Acuity VCT 3 plc over the next 2 years. 
 
Factory Media is one of Europe's largest action sports media owners, publishing 
19 traditional print and 23 new media brands. The business is currently focused 
on two market segments, board sports and cycling. Acuity 3 VCT plc made the 
investment into Factory Media in 2006. 
 
For further information, please contact: 
Gary Fraser, Foresight Fund Managers Limited: 01732 471 800 
 
 
 
 
 
 
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Source: Acuity VCT 3 PLC via Thomson Reuters ONE 
 
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