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Investment Update

22nd Jun 2010 12:52

RNS Number : 0364O
Trikona Trinity Capital PLC
22 June 2010
 

Trikona Trinity Capital PLC

(the "Company")

Investment Update 

Trikona Trinity Capital PLC (AIM: TRC) announces the sale of its investment in DB Hospitality Private Limited ("DBH") which is held through one of the Company's Mauritian wholly-owned subsidiaries. The subsidiary has today entered into a sale and purchase agreement. The consideration amounts to the USD equivalent of INR1,000.2 million, or approximately GBP14.7 million at current exchange rates.

The subsidiary acquired the holding in DBH in two tranches in December 2006 and January 2008 for a total consideration of GBP12.2 million and therefore a profit on investment of approximately GBP 2.5 million is expected to be realised. In the Company's Interim Results as at 30 September 2009, the carrying value of the investment in DBH was GBP10.6 million.

A further announcement will be made when completion of the sale occurs, which is expected to be before the end of June 2010.

 

 

Enquiries:

 

Hogarth

Tim McCall / James White +44 207 357 9477

 

IOMA Fund and Investment Management Limited

Philip Scales, Director +44 1624 681250

 

Evolution Securities

Nominated Adviser and Joint Broker

Bobbie Hilliam / Chris Clarke, Corporate Finance +44 207 071 4300

 

Arden Partners plc, Joint Broker

Chris Hardie, Corporate Finance +44 207 614 5917

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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