9th May 2014 10:44
LONDON (Alliance News) - Graphite Enterprise Trust PC Friday said it has sold supply teaching specialist business Education Personnel, and expects to receive net proceeds of around GBP15 million in the next few weeks.
The investment company said the exit price represents a significant uplift to the carrying value of the investment at end of January, and in isolation increases the group's net asset value per share by 1.4%, or 9.5 pence, compared with that at the end of January.
It said the Education Personnel business was its sixth largest underlying investment at January 31, 2014, and was held through its Graphite Capital Partners VII fund.
The company said it will announce its results for the three months to April 30 on June 11.
Graphite Enterprise shares were trading 2.3% higher at 599.05 pence before midday Friday.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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