9th Oct 2006 07:10
SVG Capital PLC09 October 2006 For immediate release 9 October 2006 Flotation of HRG (Hogg Robinson) SVG Capital has been advised by Permira that HRG (formerly known as HoggRobinson) has listed on the London Stock Exchange with conditional trading inits shares commencing today. Shares have been placed at 90p, capitalising thecompany at £275 million. Funds advised by Permira have sold approximately 44% of their equityshareholding* in the company at the flotation. The value of the partialrealisation for SVG Capital is approximately £18.0 million**. Following the flotation, the IFRS value of SVG Capital's remaining holding inHRG is £6.4 million. This, together with the value of the partial realisation,represents a net uplift (after a provision for carried interest) of £7.6 million(5.2p per share) to the June 2006 valuation. Funds advised by Permira aresubject to a 12 month lock-up period in relation to their remaining holding inHRG. HRG is an international business travel services business. The company'soperations include corporate travel management and e-commerce. For further information, please contact: SVG Capital plc Alice Todhunter 020 7010 8925 Penrose Emma Thorpe/Francesca Reville 020 7786 4888 * not including any over-allotment option ** including all preference shares. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Hogg Robinson Group