Dunedin Enterprise Inv Trust PLC Portfolio Update (9270O)

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RNS Number : 9270O

Dunedin Enterprise Inv Trust PLC

13 October 2021

Dunedin Enterprise Investment Trust PLC

   LEI:     213800E2VLUZ5AF9Z434 
   Date:   13 October 2021 

Partial realisation of Global Processing Services ("GPS")

Dunedin Enterprise Investment Trust PLC is pleased to announce that Dunedin Buyout Fund III LP has entered into a legally binding agreement for the partial realisation of its investment in GPS, a market leader in payment processing technology.

The investment in GPS was valued at GBP16.1m at 30 June 2021. Proceeds from the partial sale will amount to GBP18.2m, consisting of capital of GBP16.0m and income of GBP2.2m. In addition, GBP5.9m will be rolled into a GPS newco resulting in a total consideration of GBP24.1m. This represents an uplift of GBP8m on the 30 June 2021 valuation, equivalent to 44.1p per share.

The transaction is subject to regulatory approval and is expected to complete by the end of 2021. The effect of the transaction will be reflected in the net asset value as at 30 September 2021, which is due to be published on or around 1 November 2021.

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October 13, 2021 05:00 ET (09:00 GMT)