British Smaller Companies VCT2 Plc Realisation of Investment (4974A)
December 22 2014 - 10:15AM
UK Regulatory
TIDMBSC
RNS Number : 4974A
British Smaller Companies VCT2 Plc
22 December 2014
British Smaller Companies VCT2 plc ("the Company")
Realisation of Investment
The Company is pleased to announce the sale of its investment on
22 December 2014 in Waterfall Services Limited ("Waterfall
Services"), a leading independent mid-sized contract caterer.
The Company will receive cash proceeds of GBP0.96 million
compared to a cost of GBP0.03 million. The carrying value which was
incorporated within the net asset value of the Company at 30
September 2014 was GBP0.95 million. Consequently the effect of this
transaction had it been incorporated into the accounts at 30
September 2014 would have had no material impact on the net asset
value per share.
The realisation will result in total cash proceeds (equity,
preference shares, loans, interest & dividends) of GBP1.33
million which represents 5.3x the Company's original investment of
GBP0.25 million.
Waterfall is one of the UK's leading independent contract
catering companies, with particularly strong positions in the
education and care and welfare markets. It has made a virtue of an
individual and dedicated approach to clients, contributing to a
fivefold increase in turnover since 2008.
For further information, please contact:
David Hall YFM Equity Partners Limited Tel: 0113 244 1000
Gillian Martin Nplus 1 Singer Advisory LLP Tel: 0207 496
3000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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