6th Feb 2014 11:57
LONDON (Alliance News) - Oakley Capital Investments Ltd Thursday said its investment adviser has estimated its net asset value increased by up to 10% over the course of last year, as it looks to reap the benefits of Oakley Capital Private Equity LP's sales of Emesa BV and Headland Media Ltd.
In a trading update for the 12 months ended December 31, 2013, the AIM-listed company, which was established to feed investors' cash into Oakley Capital Private Equity's investment strategy, said its net asset value could have risen by 17 to 19 pence a share over the course of 2013, meaning it should come in the range of GBP1.98 to GBP2.00 a share.
Oakley Capital Investments said its expected net asset value increase is because Oakley Capital Private Equity, which counts Time Out Group as one of the companies in its portfolio, made two vital sales last year, selling Emesa to Cyrte Investments BV for EUR95 million, which resulted in GBP25.6 million being distributed to the company.
The second disposal was the GBP15.5 million sale of Headland Media to KVH Industries, which resulted in GBP6.6 million being distributed to Oakley Capital Investments.
"2014 has started strongly with an interesting pipeline of proprietary investment opportunities under consideration," Peter Dubens, director, said in a statement.
Oakley Capital Investments shares were Thursday quoted at 176.00 pence, down 2.50 pence, or 1.4%.
By Samuel Agini; [email protected]; @samuelagini
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