Trinity Capital PLC Disposal of assets (1017N)
October 21 2016 - 2:00AM
UK Regulatory
TIDMTRC
RNS Number : 1017N
Trinity Capital PLC
21 October 2016
TRINITY CAPITAL PLC
(the "Company")
Disposal of Assets
The Board of Trinity Capital PLC (the "Company") is pleased to
announce that on 20 October 2016, an agreement was signed with
Immobilien Development Indien I GmbH & Co. KG and Immobilien
Development Indien II GmbH & Co. KG and their associated
parties (together the "Immobilien Funds") which, if and when fully
implemented, should facilitate the realisation of all of the
Company's remaining investments held jointly with the Immobilien
Funds.
Under the terms of the agreement, the Company will, subject to
fulfilment of various conditions precedent, dispose of its
investments in Trinity Capital (One) Limited ("TC-1") and Trinity
Capital (Five) Limited ("TC-5") held by its wholly owned subsidiary
Trinity Capital Mauritius Limited ("TCML") in return for a payment
of INR720,000,000 (currently equivalent to approximately GBP8.8
million). The Immobilien Funds will also permit and facilitate
Trinity Capital (Ten) Limited ("TC-10") to distribute to TCML the
proceeds from a future sale of the indirect interests held in DB
(BKC) Realtors Private Limited (formerly MK Malls & Developers
Private Limited). As part of the agreement the parties will
discontinue pending legal proceedings.
The agreement requires that the disposals of TC-1 and TC-5 be
concluded within eight weeks, failing which it will terminate.
The Company will make a further announcement to Shareholders as
and when it has further clarity regarding the completion of the
disposals of assets.
Enquiries:
FIM Capital Limited
Graham Smith +44 1624 681250
Arden Partners
Nominated Adviser and Broker
+44 207 614
Chris Hardie 5900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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