Electra Private Equity PLC Partial realisation of Premier Asset Management (5986L)
October 04 2016 - 2:10AM
UK Regulatory
TIDMELTA
RNS Number : 5986L
Electra Private Equity PLC
04 October 2016
PRESS RELEASE
4 October 2016
Electra Partners announces the partial realisation of Premier
Asset Management
Electra Partners is pleased to announce that, following the
successful initial public offering ("IPO") of its portfolio company
Premier Asset Management Group PLC ("Premier"), it expects to
partially realise Electra Private Equity PLC's ("Electra")
investment in the business.
Based on the offer price, Electra's investment in Premier has a
value of GBP46 million, an uplift of GBP13 million or 39% on the
valuation of Electra's investment at 31 March 2016, implying an
increase in NAV per share of 26p.
On admission, Electra is expected to receive cash proceeds of
GBP36 million from the redemption of preference shares and sale of
ordinary shares in Premier. In addition Electra will hold
approximately 8% of the issued ordinary share capital of Premier
with a valuation at the offer price of GBP10 million; these shares
are subject to a six-month lock-up.
Electra Partners refers to Electra Partners LLP acting on behalf
of its client Electra Private Equity PLC.
Ends
For further information please contact:
Andrew Honnor, Matthew Goodman, Matthieu Roussellier, Greenbrook
Communications +44 (0)20 7952 2000
Nicholas Board and Andrew Kenny, Electra Partners +44 (0)20 7306
3902
Note to Editors:
About Electra Partners LLP
Electra Partners is an independent private equity fund manager
with over 25 years' experience. During this time it has invested in
excess of GBP4.7 billion in over 200 deals. As at 31 March 2016,
the firm had funds under management of
GBP2 billion.
Electra Partners' flexible investment strategy allows it to
invest broadly across the private equity market with a particular
focus on Buyouts and Co-investments, Secondaries and Debt.
The firm's major client is Electra Private Equity PLC
("Electra"), a private equity investment trust which has been
listed on the London Stock Exchange since 1976. Electra's long-term
investment performance has been consistently superior to private
equity and other benchmarks. Over the ten years to 31 March 2016,
Electra has seen diluted NAV per share growth of 228%. This is more
than seven times the NAV per share return of the Morningstar
Private Equity Index (ex. Electra). It is also equivalent to a
ten-year annualised return of 13%, in the upper part of Electra's
target range of 10-15% over the long-term.
For further information please visit
www.electrapartners.com.
Electra Partners LLP is authorised and regulated by the
Financial Conduct Authority.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCKMMGGKDNGVZG
(END) Dow Jones Newswires
October 04, 2016 02:10 ET (06:10 GMT)
Unbound (LSE:UBG)
Historical Stock Chart
From Apr 2024 to May 2024
Unbound (LSE:UBG)
Historical Stock Chart
From May 2023 to May 2024