11th Oct 2013 10:07
LONDON (Alliance News) - Investment trust North Atlantic Smaller Companies Investment Trust PLC Friday said it has sold its holding in Orthoproducts Limited for around GBP13 million in cash.
Orthoproducts Limited is a provider of plastics for the orthopaedics industry.
The investment is being sold by North Atlantic for approximately 4.0 times its original cost and increased the net asset value in September by approximately 18 pence, North Atlantic said.
As a result of further negotiations, the sale will add approximately a further 6 pence to the net asset value in October, it said.
The stock was trading at 1,540.00 pence, up 5.00 pence or 0.3%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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