1st Sep 2014 08:12
LONDON (Alliance News) - Better Capital PCC Ltd Monday said it paid shareholders of its 2012 Cell 1.75 pence per share, amounting to a total of GBP6 million.
The group said the distribution will be treated as a reduction of share capital paid out of monies attributed to the share capital account.
Better Capital also said Monday that it has been informed that Better Capital Funds LP has acquired the debt and equity positions previously held by the Royal Bank of Scotland Group PLC in the Fairline Boats Group.
The Fund has committed up to GBP7.1 million to effect this acquisition and to support the final stages of Fairline's operational restructuring.
Better Capital Funds is a part of the wider Better Capital PCC Group and looks to invest in portfolios of businesses which have significant operating issues and may have associated financial distress, with a primary focus on businesses which have significant activities within the UK or Ireland.
Better Capital PCC shares were unquoted Monday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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