Dunedin Enterprise Inv Trust PLC Statement re Return of Capital (2496C)

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RNS Number : 2496C

Dunedin Enterprise Inv Trust PLC

28 September 2018

Dunedin Enterprise Investment Trust PLC (Company No SC52844)

LEI: 213800E2VLUZ5AF9Z434

Third Return of Capital via the issue of B Shares

We are pleased to announce the successful realisation of Pyroguard, the specialist fire resistant glass manufacturer. Total proceeds from the sale amounted to GBP9.3m representing an uplift of GBP0.4m over the valuation of GBP8.9m at 31 March 2018. The original cost of the investment was GBP3.8m and over its life, a total of GBP22.5m has been received by Dunedin Enterprise, representing a 5.9 times return and an IRR of 35%.

Following the realisation of Pyroguard the Board has decided to return GBP10.3m to shareholders via an issue of B Shares as set out in the Circular sent to shareholders on 3 April 2017 and as approved by shareholders on 11 May 2017. This follows the first issue of B Shares in December 2017 which returned GBP20.6m of capital to shareholders and a second issue of B Shares in February 2018 which returned GBP10.3m of capital to shareholders.

B Shares of 50p each will be paid up from capital and issued to all shareholders by way of a bonus issue pro-rata to their holding of Ordinary Shares on the basis of one B Share for every one Ordinary Share held at the record date of 6.00pm on 8 October 2018. The B Shares will be issued on 9 October 2018 and immediately redeemed at 50p per B Share. The Ordinary Shares will trade ex-B Share entitlement with effect from 5 October 2018.

The proceeds from the redemption of the B Shares will be sent to shareholders on 23 October 2018, either through CREST to uncertificated shareholders or via cheque to certificated shareholders.

A copy of the Circular sent to Shareholders is available on the Company's website (www.dunedinenterprise.com). Also available on the website is a Guide to the B Share Scheme which includes an illustration for the computation of the chargeable gain on the B Shares for tax purposes.

This announcement contains inside information for the purposes of article 7 of EU Regulation 596/2014. Upon publication of this announcement, this inside information is now considered to be in the public domain.

For further information, please contact:

Dunedin LLP, Company Secretary

Telephone: [phone]

For further information on Dunedin Enterprise, please go to www.dunedinenterprise.com

28 September 2018

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September 28, 2018 02:01 ET (06:01 GMT)