Sale of SAV Credit (Replacement) (5086R)
November 04 2011 - 3:44AM
UK Regulatory
TIDMELTA TIDMELTZ
RNS Number : 5086R
Electra Private Equity PLC
04 November 2011
The 'Sale of SAV Credit' announcement released today at 07:00
under RNS No 4802R, should have been issued under the Company name
of Electra Private Equity PLC and not under the Company name of
Electra Private Equity Invest PLC.
The announcement text is unchanged and is reproduced in full
below.
Electra Completes the Sale of SAV Credit
4 November 2011
Further to the announcement on 27 September, Electra Private
Equity PLC ("Electra") is pleased to announce the completion of the
sale of its interest in specialist credit card provider, SAV Credit
("SAV"), to Varde Partners.
Electra has received proceeds of GBP40.8 million which, based on
the 31 March 2011 valuation of SAV, gives rise to an uplift in
diluted NAV per share of 58p, and a return of 1.7x on cost.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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