4th Jun 2007 16:56
Graphite Enterprise Trust PLC04 June 2007 ANNOUNCEMENT TO STOCK EXCHANGE GRAPHITE ENTERPRISE TRUST PLC 4 JUNE 2007 PART-DISPOSAL OF FTSE OPTION Graphite Enterprise Trust PLC (the "Company") announces that it has today sold25% of the FTSE 100 call option ("the Option") which was acquired in October2005. This part-disposal followed a fall in cash and near-cash balances and anincrease in the exposure to the FTSE 100 Index ("the Index") provided by theOption. The proceeds of the disposal were £9.7 million, representing 69% of the cost ofthe Option of £14.0 million. The value of the Option immediately after thedisposal was £29.0 million and it provided continued exposure to the Index ofapproximately £115 million. The Company purchased the Option on 21 October 2005. It has a three yearmaturity, although in normal market conditions it can be redeemed in whole orpart before maturity. The Option was acquired when the level of the Index was5,142. At the time of today's sale, the level of the Index was 6,654,representing an increase of 29.4%. For further information please contact: William Eccles 020 7825 5300Tim Spence 020 7825 5300 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ICG Enterprise Trust