Better Capital PCC Limited Reconstruction of the Everest Business (3698P)
June 09 2020 - 2:00AM
UK Regulatory
TIDMBC12 TIDMBCAP
RNS Number : 3698P
Better Capital PCC Limited
09 June 2020
9 June 2020
Better Capital PCC Limited
(the "Company")
Reconstruction of the Everest Business
The General Partner of BECAP12 Fund LP ("Fund II") has informed
Better Capital PCC Limited (the "Company") that through a
pre-packaged administration certain of the assets, including the
order pipeline of Everest Limited, have been sold to a new trading
company, Everest 2020.
This has been financed principally by Fund II which has invested
GBP3.2m into the creation of the new business. It is therefore
likely that the next accounts of the Fund will therefore reflect a
material write-down of the valuation of the Everest investment.
This transaction protected over 400 jobs and provides for the
completion of existing window and conservatory orders. Installation
operations restarted on last Monday.
Enquiries:
Better Capital PCC Limited
Norman Amey +44 (0) 1481 742 742
Numis Securities
Nathan Brown +44 (0) 20 7260 1426
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END
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