Unbound Share Discussion Threads

[mirabeau] 22/3/2013 08:06

RNS



Regulatory Story
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Company Electra Private Equity PLC
TIDM ELTA
Headline Electra Announces Valuation Impact of esure IPO
Released 07:55 22-Mar-2013
Number 6318A07

RNS Number : 6318A
Electra Private Equity PLC
22 March 2013



22 March 2013

Electra Announces Valuation Impact of esure IPO

Electra Private Equity PLC ("Electra") is pleased to announce the valuation impact of the Initial Public Offering ("IPO") of UK motor insurer esure, its third largest investment at 30 September 2012.

In February 2010, Electra invested £30 million (via the Tosca Penta Investments LP fund) in the management buyout of esure from Lloyds Banking Group, led by Peter Wood, founder and Executive Chairman of esure. To date, £15.3 million of Electra's original investment has been repaid.

As a result of esure's IPO, Electra is due to receive further cash proceeds of £51.5 million which represent the repayment of the remaining prior ranking capital, the yield thereon, and the sale of ordinary shares. In addition, Electra (via its holding in the Tosca Penta Investments LP fund) will hold 6.19 million ordinary shares in esure which are subject to over-allotment or lock-up arrangements. At the IPO price, these shares have a valuation of £17.9 million.

This represents an uplift in Electra's diluted NAV per share of 33p from the audited accounts at 30 September 2012, as well as the Interim Management Statement at 31 December 2012.



Ends



For further information please contact:

For Tim Syder:
Nick Woods, M:Communications [phone]


This information is provided by RNS
The

[jaws6] 21/3/2013 09:47

tomorrow dealing start in Esure

[jaws6] 08/3/2013 14:06

ESURE details out today so not long to go

[jaws6] 25/2/2013 10:44

arja
In express today ESURE mention again so ELTA will profit from them

[arja] 20/2/2013 15:38

thanks jaws6 and I will read it ,

[jaws6] 20/2/2013 15:31

ARJA
FT got artical on ESURE and ELTA OWNS THEM so who knows what we get in float.

[arja] 20/2/2013 14:04

is the NTA figure reliable for this company as it contains mainly unlisted investments ? chart looks grwat and near all time high again .

[jaws6] 20/2/2013 11:08

another move up on FT report today

[18bt] 06/3/2012 08:21

Another 36p uplift in NAV from sale of Amtico. These guys have been very busy since December.

[18bt] 20/1/2012 07:32

Another nice 32/share uplift from CPA.

[skyship] 12/12/2011 08:16

I have started a Private Equity thread ("PE"):



I do hope that readers will bookmark this new thread and share their knowledge and expertise over there from time to time.

[18bt] 07/12/2011 07:23

Good results yesterday. These still sit at a 39% discount to year end NAV. With their record of increasing NAV, this still looks v cheap.

[18bt] 04/11/2011 07:39

A couple of big disposals have completed in the past few days resulting in strong uplifts to NAV per share of 88p/share on March. This still seems to be stnading on a discount of some 30% to NAV.

[18bt] 24/5/2011 07:13

Has anyone got a holding of these? My most successful investment trust this year.

[xlairways] 15/4/2009 20:47

This had started to come back up a bit now.

[xlairways] 08/4/2009 16:21

Anyone got any more uptodate info on this one?

[ben gunn] 09/5/2006 12:17

evilwebby
many thanks for your insight.....buying today as opaque asset holders can only do well when the global indeces peak.

[rambutan2] 18/1/2006 02:45

well im still holding and they certainly did me proud in 2005, being the best performing private equity trust out of the 19 in the sector. over 3yrs they are number three and over 5yrs they are fifth. and note that they've just done another stonking deal by selling inchcape shipping at a jumbo premium to the last valuation.

[evilwebby] 17/1/2006 22:27

ELTA is a great company. I'm amazed nobody on ADVFN follows them. I contracted with them for the 2nd half of last year (I work in IT). They have some very good people, and they are great at what they do. They're very much a "people" company - care about the staff and treat them well. Until recently, their IT and infrastructure was very dated, but they have spent a lot to bring them up to scratch, and also moved offices last year from a old tacky building in Kingsway to much brighter offices in Paternoster Square in the same building as the LSE, which should impress their lenders no end.

[rambutan2] 02/4/2004 10:28

port update. lost of liquid following recent large sells. also, talk of amtico being floated this year for £100-£150m. we own 50% so that would be a very nice uplift from current valuation...

Electra Investment Trust PLC ('Electra') announces that as at 31 March 2004,
its largest investments were:


Largest Investments *% of Gross *% of Net *Unaudited
Assets Assets Valuation of
at 31 March at 31 March Holding
2004 2004 at 31 March 2004
% % £'000
Barclays Bank 7.22 9.31 50,000
Floating Rate Notes
Safety-Kleen Europe 6.91 8.92 47,913
European Investment 5.77 7.45 39,997
Bank Floating Rate
Notes
Capital Safety Group 4.52 5.83 31,317
Amtico 4.13 5.33 28,646
Leiner Health 4.10 5.29 28,416
Products
Allflex 3.92 5.06 27,166
Inchcape Shipping 3.80 4.90 26,316
Services
Abbey National 3.61 4.65 25,000
Floating Rate Notes
Bank of Scotland 3.61 4.65 25,000
Floating Rate Notes
Lloyds Bank Floating 3.61 4.65 25,000
Rate Notes

Apart from the above there were no other investments with a value greater
than 5% of Electra's gross assets at 31 March 2004.

* The unaudited valuation at 31 March 2004 was calculated on the basis of the
asset valuation at 30 September 2003 adjusted to reflect the purchases and
sales of investments up to 31 March 2004, currency movements and mid market
valuations on 31 March 2004 in respect of listed investments and restricted
listed investments where these are valued by reference to quoted prices. On
this basis, which excludes any revaluation of unlisted investments, the
unaudited net asset value per share at 31 March 2004 was 824.98p.

This announcement was made in accordance with the Listing Rule 21.20 (l) (ii)
which requires, inter alia, UK listed investment companies to notify to a
Regulatory Information Service, within two business days of the end of each
quarter, a list of all investments with a value greater than 5% of the
company's gross assets and at least the company's ten largest investments as
at the last business day of that quarter.

For further information, please contact

[rambutan2] 28/1/2004 14:14

deals announced re baxi and vendcrown. and price up.

[daal43] 11/1/2004 14:45

Lets hope we see some action from Elta!!!

[rambutan2] 06/1/2004 13:47

of the above holdings, serious talk of float/sale of baxi (at approx £800m) and safety-kleen (at approx £250m), + also within port of premium credit and freightliner. so could be some real value unlocked in 04.

[rambutan2] 06/1/2004 13:40

Electra Investment Trust PLC - Quarterly Portfolio Disclosure of Largest
Investments

5 January 2004

Electra Investment Trust PLC ('Electra') announces that as at 31 December 2003,
its ten largest investments were:

Ten Largest Investments *% of Gross *% of Net Assets *Unaudited Valuation
Assets of Holding
at 31 December at 31 December at 31 December 2003
2003 2003 £'000

Baxi 8.96 11.85 61,833
Vendcrown 7.42 9.81 51,179
Safety-Kleen Europe 6.95 9.18 47,913
Capital Safety Group 4.54 6.00 31,317
Leiner Health Products 4.23 5.59 29,173
Arntico 4.15 5.49 28,653
Allflex 3.94 5.21 27,161
Moser Baer 3.89 5.14 26,821
Inchcape Shipping Services 3.81 5.05 26,318
Esporta 2.25 2.97 15,492

Apart from the above there were no other investments with a value greater than
5% of Electra's gross assets at 31 December 2003.

* The unaudited valuation at 31 December 2003 was calculated on the basis of the
asset valuation at 30 September 2003 adjusted to reflect the purchases and sales
of investments up to 31 December 2003, currency movements and mid market
valuations on 31 December 2003 in respect of listed investments and restricted
listed investments where these are valued by reference to quoted prices. On this
basis, which excludes any revaluation of unlisted investments, the unaudited net
asset value per share at 31 December 2003 was 799.78p.

This announcement was made in accordance with the Listing Rule 21.20 (l) (ii)
which requires, inter alia, UK listed Investment companies to notify to a
Regulatory Information Service, within two business days of the end of each
quarter, a list of all investments with a value greater than 5% of the company's
gross assets and at least the company's ten largest investments as at the last
business day of that quarter.

For further information, please contact

R J Lewis
Electra Partners Limited [phone]