Trinity Capital PLC Completion of Disposal of Assets (2525P)

TIDMTRC

RNS Number : 2525P

Trinity Capital PLC

16 November 2016

TRINITY CAPITAL PLC

Completion of Disposal of Assets

Following the announcement made on 21 October 2016, the Board of Trinity Capital PLC (the "Company") is now pleased to announce that the Company's wholly owned subsidiary, Trinity Capital Mauritius Limited ("TCML"), completed the realisation of its investments in Trinity Capital (One) Limited ("TC-1") and Trinity Capital (Five) Limited ("TC-5") on 15 November 2016. Disposal proceeds of GBP8.7 million were received by TCML.

The only remaining investment is Trinity Capital (Ten) Limited ("TC-10"), held together with Immobilien Development Indien I GmbH & Co. KG and Immobilien Development Indien II GmbH & Co. KG (together the "Immobilien Funds"). The Immobilien Funds have provided a formal commitment to permit and facilitate TC-10 to distribute to TCML the proceeds from a future sale of its indirect interests held in DB (BKC) Realtors Private Limited (formerly MK Malls & Developers Private Limited).

The Immobilien Funds and TCML will now proceed and co-operate to discontinue all pending legal proceedings in Mauritius.

At 31 March 2016, the Company's holdings in TC-1 and TC-5 were valued at an aggregate of GBP8.3 million. The Company's sole remaining investment is TCML's holding in TC-10.

The Board intends to announce in due course a further distribution to shareholders and to commence consultations on the future of the Company.

More information on the Company is available at http://www.trinitycapitalplc.com/.

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

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November 16, 2016 02:00 ET (07:00 GMT)

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