3rd Jun 2019 14:18
LONDON (Alliance News) - Dunedin Enterprise Investment Trust PLC said Monday it has decided to return GBP5.2 million to shareholders through the issue of B shares.
Shares in Dunedin Enterprise were up 6.5% at 378.00 pence in afternoon trading.
The capital return comes after refinancings at Forensic Risk Alliance and Kingsbridge Risk Solutions - companies in Dunedin Enterprise's managed portfolio - as well as the realisation of portfolio company Litalsa.
Private equity finance provider Dunedin also renewed its banking facility to May 2020 at the new level of GBP5 million, down from GBP10 million previously.
This is Dunedin Enterprise's fourth return of capital and follows on from a first B share issue in December 2017, which returned GBP20.6 million, a second return of GBP10.3 million in February 2018, and a third return of another GBP10.3 million.
B shares of 1p each are to be issued to all shareholders through a bonus issue with 25 B shares for every ordinary share. These B shares will be issued on June 12 and redeemed immediately at 1p per B share,
Dunedin Enterprise's net asset value per share on march 31 was 427.2p. After the dividend payment of 2p per share on May 16 and the GBP5.2 million capital return, the NAV per share will be 400.2p.
Related Shares:
Dunedin Ent.it.