HgCapital Trust PLC Hg invests in Dext (2065V)
April 13 2021 - 2:00AM
UK Regulatory
TIDMHGT
RNS Number : 2065V
HgCapital Trust PLC
13 April 2021
Hg, the Manager of HgCapital Trust plc ("HGT"), today announces
an investment in Dext, a leading provider of pre-accounting
software.
The terms of the transaction have not been disclosed and closing
is subject to closing conditions.
HgCapital Trust plc will invest approximately GBP12.6 million in
Dext, with other institutional clients of Hg.
HGT, whose shares are listed on the London Stock Exchange, gives
private and institutional investors the opportunity to participate
in all Hg's investments.
Note that these figures only relate to HGT's share of Hg's
overall investment in Dext.
HGT's liquid resources available for future deployment
(including all announced transactions, the proposed full-year
dividend payable in May 2021 and equity raised via tap issuance)
are estimated to be GBP136 million (10% of the 28 February 2021
pro-forma NAV of GBP1.3 billion). In addition, HGT has access to a
GBP200 million standby facility, which is currently undrawn.
The investment will reduce HGT's outstanding commitments to
invest in Hg transactions to approximately GBP501 million (38% of
the 28 February 2021 pro-forma NAV).
For further details:
Hg
Laura Dixon +44 (0)20 8396 0930
Brunswick
Samantha Chiene +44 (0)207 404 5959
Hg@brunswickgroup.com
About HgCapital Trust plc
HgCapital Trust plc, whose shares are listed on the London Stock
Exchange (ticker: HGT.L), gives investors exposure through a liquid
vehicle to a portfolio of high-growth private companies in the
software and services sector. The selection of new investments and
creation of value in these businesses are managed by Hg, an
experienced and well-resourced private equity firm with a long-term
track record of delivering superior risk-adjusted returns for its
investors. For further details, please see
www.hgcapitaltrust.com.
The contents of the Hg, HgCapital Trust and Dext websites are
not incorporated into, and do not form part of, this
announcement.
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END
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