14th Aug 2014 08:27
LONDON (Alliance News) - Electra Private Equity PLC Thursday reported that its diluted net asset value per share edged down 0.1% to 2,910 pence in the third quarter.
In a statement for the three months to the end of June, Electra reported GBP124.0 million invested during the period, including GBP81.0 million in Ogier Fiduciary Services and GBP33.0 million in Innovia Group. It said GBP47.0 million was realised.
?Recent performance continues to be strong with the investments made over the past two years already starting to generate returns. Making full use of its flexible investment strategy, Electra Partners has been busy actively pursuing value creation strategies across the portfolio and has completed a number of attractive investments in the period. Electra is very well positioned to continue its record of delivering consistently superior long-term returns for its shareholders," Chairman Roger Yates said in a statement.
Last month, Electra said it had turned down a request by Sherborne Investors Management's Edward Bramson to be appointed to its board and to be given the mandate to lead a strategic review. It rejected the requests after a meeting between Chairman Roger Yates and Bramson, who through Sherborne has built up a 19% stake in the private equity company. According to Electra, Bramson also wanted to nominate two as-yet-unidentified directors to the board.
Electra shares were Thursday quoted down 0.2% at 2,642.80 pence.
By Samuel Agini; [email protected]; @samuelagini
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