ICG Enterprise Trust Disposal Of Standard Brands

 
TIDMICGT 
 
 
   ICG Enterprise Trust plc 
 
   Disposal of Standard Brands 
 
   25 July 2017 
 
   ICG Enterprise Trust plc ("the Company") announces the sale of its 
investment in Standard Brands (UK) Limited ("Standard Brands"), a 
manufacturer of domestic fire lighting products including Zip, the 
leading brand in the UK and Ireland. Standard Brands was the Company's 
fifth largest underlying investment at 30 April 2017. 
 
   The sale to SHS Group is subject to Irish Competition Authority 
approval.  It is expected that the Company will receive cash proceeds of 
approximately GBP15.8 million during the quarter to 31 October 2017. 
Taken in isolation, the disposal is anticipated to increase the 
Company's net asset value per share by 5.9p to 881.9p, equating to a 
0.7% increase compared with the value at 30 April 2017. 
 
   Having initially supported the management buyout of Standard Brands in 
2001, half of the Company's interest was acquired in 2014 by way of a 
secondary transaction. At completion, the transaction is expected to 
represent a return of 3.8 times the cost of the 2014 investment and an 
overall return of 1.5 times the total cost at an uplift of 35% to the 
carrying value at 30 April 2017. 
 
   Enquiries 
 
   Analyst / Investor enquiries: 
 
   Emma Osborne, Portfolio Manager, ICG                         +44 (0) 20 
3201 1302 
 
   Nicola Edgar, Finance, ICG 
[phone] 
 
   END 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: ICG Enterprise Trust Plc via Globenewswire 
 
 
  http://www.icg-enterprise.co.uk/ 
 

(END) Dow Jones Newswires

July 25, 2017 06:00 ET (10:00 GMT)

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