23rd Mar 2020 12:39
Dunedin Enterprise realisation of Kingsbridge
Dunedin Enterprise Investment Trust PLC is pleased to announce the successful realisation of its investment in Kingsbridge, the provider of insurance services to contractors. The transaction is subject to regulatory approval in the UK and Guernsey.
The investment in Kingsbridge was valued at £8.9m in the Preliminary Unaudited Net Asset Value at 31/12/19 published on 3 March 2020. Proceeds from the sale will amount to £10.4m (an uplift of £1.5m, or 7.2p per share), consisting of capital of £10.2m and income of £0.2m. After taking account of carried interest the net asset value per share increase is 5.8p.
Following regulatory approval being received the Board intends to announce a distribution to shareholders.
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