28th Nov 2013 10:02
SPARK Ventures plc
("SPARK" or the "Company")
Sale of remaining stake in notonthehighstreet.com ("noths")
SPARK Ventures announces the sale of its remaining stake in noths for net cash proceeds of £11.0m, thus substantially increasing the Company's cash balances. This brings SPARK's total returns to £12.8m from an initial investment of £0.7m in 2007/8, a multiple of 18 times the initial investment, an IRR of 65% and an 8% uplift to the previously disclosed book value.
The investors are a specialist US fund together with some existing noths shareholders.
For further information, please contact:
SPARK Venture Management Ltd / SPARK Ventures plc | Thomas Teichman / Andrew Betton
| 020 7851 7777 |
Notonthehighstreet.com | James Devas, The Maitland Consultancy
| 020 7379 5151 |
finnCap | Matt Goode / Christopher Raggett
| 020 7220 0500 |
Related Shares:
GHS.L