British Smaller Companies VCT2 Plc Realisation of Holding In Primal Pictures Limited (8682J)
August 13 2012 - 4:44AM
UK Regulatory
TIDMBSC
RNS Number : 8682J
British Smaller Companies VCT2 Plc
13 August 2012
British Smaller Companies VCT 2 plc
13 August 2012
Realisation of Primal Pictures Limited
British Smaller Companies VCT2 plc (the "Company") today
announces the realisation of its investment in Primal Pictures
Limited, to an undisclosed trade buyer. Primal Pictures is an
award-winning digital e-learning company providing the world's most
complete and medically accurate 3D human anatomy medical software
used by educators, professionals, practitioners, and students
around the world.
The realisation has generated proceeds of GBP1.9 million and the
impact of the transaction, is an uplift in the Net Asset Value of
1.9 pence per Ordinary share. This compares to the last reported
Net Asset Value at 31st March 2012 of 69.2 pence per Ordinary
share. Overall this investment has delivered a total cash return of
2.2x on the original investment cost.
This has been a long term investment for the Company during
which Primal established itself as best in class, evidenced by the
fact that over 75% of the world's top medical schools, as well as
hospitals, research institutes and other healthcare professional
bodies, use their products. More recently, it has successfully
repositioned itself as provider of online educational products.
Chairman Richard Last commented "This investment is a great
example of how strong returns can be achieved in uncertain economic
times by backing clear strategies to exploit changing markets."
For further information, please contact:
David Hall YFM Equity Partners Limited Tel: 0113 294 5039
Claes Spang Singer Capital Markets Tel: 0203 205 7500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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