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DNE Dunedin Enterprise Investment Trust Plc

484.00
0.00 (0.00%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Dunedin Enterprise Investment Trust Plc LSE:DNE London Ordinary Share GB0005776561 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 484.00 468.00 500.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 1.52M 1.25M 0.0950 51.21 63.91M

Dunedin Enterprise Inv Trust PLC Disposal (2727N)

07/08/2017 10:03am

UK Regulatory


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TIDMDNE

RNS Number : 2727N

Dunedin Enterprise Inv Trust PLC

07 August 2017

Dunedin Enterprise realisation of Blackrock PM

Dunedin Enterprise Investment Trust PLC is pleased to announce the successful realisation of its investment in Blackrock PM, the provider of independent expert witnesses to dispute and litigation resolution in the construction sector.

Capital and accrued interest in Blackrock was valued at GBP10.4m as at 31 March 2017, the last published valuation. Total proceeds from the sale amounted to GBP12.8m (an uplift of GBP2.4m, or 11.7p per share), consisting of capital of GBP12.7m and income of GBP0.1m. The original cost of the investment was GBP4.9m and over the life of the investment a total of GBP13.9m was received by Dunedin Enterprise representing a 2.8 times return and an IRR of 60%.

The Board is keeping under review the cash and outstanding commitment position of the Company. Following the realisation of Blackrock, the Company will have cash balances of GBP16.4m with outstanding commitments to limited partnership funds of GBP28.5m. It is estimated that approximately GBP13m of this total commitment will be drawn over the remaining life of the limited partnership funds. It is not the current intention of the Board to make a capital distribution to shareholders until there are further realisations from the portfolio.

END

This information is provided by RNS

The company news service from the London Stock Exchange

END

DISGCGDIBGGBGRR

(END) Dow Jones Newswires

August 07, 2017 05:03 ET (09:03 GMT)

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