Trinity Capital PLC Completion of Disposal of Assets - Correction (3724P)
November 16 2016 - 10:12AM
UK Regulatory
TIDMTRC
RNS Number : 3724P
Trinity Capital PLC
16 November 2016
TRINITY CAPITAL PLC
Completion of Disposal of Assets - CORRECTION
The announcement made at 07.00 on 16 November contained an
incorrect figure for the value of the Company's holdings in TC-1
and TC-5 at 31 March 2016. It should have read GBP5.1m instead of
GBP8.3m. No other changes are required. The full text of the
corrected announcement is given below.
"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 GBP5.1 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
END
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