6th Sep 2018 13:24
LONDON (Alliance News) - Oakley Capital Investments Ltd on Thursday said it disposed several investments in the first half of 2018 leading to a net asset value per share growth.
NAV per share grew to 259 pence in the six months to the end of June from 245p reported as at the end of 2017.
The stock was trading 1.5% higher on Thursday at 197.35p per share.
Oakley Capital declared an interim dividend of 2.25p per share.
During the period, Oakley Fund II sold its remaining holding in online dating site Parship Elite Group. The proceeds from the sale amounted to GBP35.6 million, representing a gross money multiple of 4.7x.
In addition, the company said it sold 9.9% interest in Verivox, also through Oakley Fund II. Following the transaction, Oakley secured GBP15.2 million that returned a gross money multiple of 2.5x.
Oakley Fund II has also took its entire holding from online price comparison site Facile, generating a gross money multiple of 3.7x and returning GBP51.6 million to Oakley.
The company said Oakley Fund III now considers to take a stake in Facile in order to participate in further upside from the next phase of the company's growth.
Looking to the second half of 2018, Oakley said it remains well placed to deliver meaningful returns to its investors through further portfolio realisations and investment in future Oakley Funds.
Oakley invested GBP44.4 million in the Oakley Funds and said its remaining unfunded commitments stand at GBP2.3 million.
"Oakley Capital Investments has delivered a strong start to the year, driven by three successful exits that contributed to a 19% increase in the Oakley Funds," said Chairman Christopher Wetherhill.
"The remaining portfolio companies continue to perform well and their ranks have been strengthened further by the addition of Career Partner Group, which makes education our largest sector by funds invested," added managing partner Peter Dubens.
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