REG - Dunedin Enterprise - Portfolio Update

Dunedin Enterprise Investment TrustAnnouncement

25/08/2022 09:30

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RNS Number : 2150X  Dunedin Enterprise Inv Trust PLC  25 August 2022

Dunedin Enterprise Investment Trust PLC

 

Date:                   25 August 2022

LEI:                     213800E2VLUZ5AF9Z434

 

RED realisation

 

Dunedin Enterprise Investment Trust PLC is pleased to announce that Dunedin
Buyout Fund II LP has entered into a legally binding agreement to realise the
investment in RED, the provider of SAP contract and permanent staff.  The
transaction is subject to funding and regulatory approvals and is expected to
complete in the second half of 2022.

 

The investment in RED was valued at £23.7m in the Preliminary Unaudited Net
Asset Value at 30/06/22 published on 1 August 2022.  Proceeds from the sale
are expected to amount to £23.7m, consisting of capital of £19.7m and income
of £4.0m. Additionally, there are future potential proceeds from an earn-out
arrangement which are dependent upon RED achieving profit targets in the year
to 31 March 2023.

 

Following funding and regulatory approvals being received the Board intends to
announce a distribution to shareholders.

 

 

END

 

 

For further information please contact:

Dunedin LLP

Graeme Murray
07813138367

 

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