TIDMESO TIDMEO.P

RNS Number : 1168D

EPE Special Opportunities PLC

04 July 2016

EPE Special Opportunities plc

Portfolio Update and Net Asset Value

EPE Special Opportunities plc ("ESO plc") announces that Pharmacy2U Limited ("P2U"), a company in which it has a minority investment via ESO Investments 1 LP ("ESO 1 LP"), has completed a merger with ChemD Holdings Limited, which trades as ChemistDirect.co.uk. In conjunction with the merger, the Business Growth Fund ("BGF") has invested GBP10 million to support the new company's ambitious growth plans.

The enterprise value of the new company equates to GBP43 million and the merger creates a clear leader in the UK online pharmacy sector, with 1.5 million customers and unrivalled experience in digital pharmacy services.

The Chief Executive of the new company will be ChemistDirect.co.uk Chief Executive Mark Livingstone, who brings a strong track record in innovative internet-based businesses including LOVEFiLM and Graze.com.

The transaction has a positive impact on ESO plc's NAV, resulting in an increase of 2.81p. The total NAV at 30 June 2016 incorporating this increase is 159.02p.

Enquiries:

   EPIC Private Equity LLP                      Alex Leslie +44 (0) 20 7269 8865 
   FIM Capital                                          Philip Scales +44 (0) 16 2468 1250 
   Cardew Group                                     Richard Spiegelberg +44 (0) 20 7930 0777 
   Numis Securities                                  Tel: +44 (0) 20 7260 1000 
   Nominated Advisor:                                Hugh Jonathan / Stuart Skinner 
   Corporate Broker:                                   Charles Farquhar

Disclaimer: This valuation, which has been prepared in good faith by the Company's investment adviser, is for information purposes only. It is derived from unaudited estimated valuations of the Company's underlying investments based on information received by the investment adviser which may relate to dates or periods some time before the date of this valuation. Such estimates may be subject to little verification or other due diligence and may not comply with generally accepted accounting practices or other generally accepted valuation principles. If a valuation estimate subsequently proves to be incorrect, no adjustment is expected to be made to any previously published estimated net asset value.

This information is provided by RNS

The company news service from the London Stock Exchange

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July 04, 2016 04:08 ET (08:08 GMT)