28th Sep 2018 17:21
LONDON (Alliance News) - Dunedin Enterprise Investment Trust PLC on Friday said it will return GBP10.3 million to shareholders via an issue of B shares as net asset value per share fell in the first half of 2018.
The company said it sold its holding in fire resistant glass manufacturing firm Pyroguard UK Ltd for GBP9.3 million, representing an uplift of GBP400,000 over the valuation at the end of March.
The original cost of the investment was GBP3.8 million and over its life, a total of GBP22.5 million has been received by Dunedin Enterprise, it said.
B shares of 50 pence each will be paid to all shareholders by way of a bonus to their holding of ordinary shares on the basis of one B share for every one ordinary share held on October 8.
In the separate statement, Dunedin Enterprise said its net asset value per share was 447.5p at at the end of June, down from 489.2p reported at the end of 2017, as a result of 5.5p dividend paid and 50p return in February.
The share price stood at 386p at June 30, representing a discount of 14% to NAV. The stock closed 0.2% lower on the day Friday at 371.20p per share.
Related Shares:
Dunedin Ent.it.