REG - HgCapital Trust PLC - Norstella announces merger agreement with Citeline

HgCapital TrustAnnouncement

28/06/2022 16:00

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RNS Number : 5192Q  HgCapital Trust PLC  28 June 2022

Hg, the Manager of HgCapital Trust plc ("HGT"), today announces an investment
in Citeline (formerly Pharma Intelligence) - a leading provider of specialist
intelligence, data and software for clinical trials, drug development and
regulatory compliance - which has announced an agreement to merge with
Norstella, an organization that helps life sciences companies navigate the
complexities of the drug life cycle.

The terms of the transaction have not been disclosed. The merger is expected
to close in the second half of 2022 subject to customary closing conditions
and regulatory approvals.

HGT will invest approximately £4.7 million in the transaction, with other
institutional clients of Hg investing alongside HGT through the Hg Genesis 9
Fund.

Earlier this year, four prominent pharmaceutical solutions providers-Evaluate,
MMIT, Panalgo and The Dedham Group-launched Norstella, in which HGT is
currently invested.

HGT, whose shares are listed on the London Stock Exchange, gives private and
institutional investors the opportunity to participate in all Hg's
investments.

Note that these figures only relate to HGT's share of Hg's overall investment
in Norstella.

HGT's available liquid resources, which includes the undrawn bank facility of
£250 million for future deployment are estimated to be £471 million (23% of
the 31 March 2022 pro-forma NAV of £2.1 billion).

This investment will reduce HGT's outstanding commitments to invest in Hg
transactions to approximately £605 million (29% of the 31 March 2022 NAV).

Later today a full press release from Norstella can be found on:
https://www.norstella.com/news-events/
(https://www.norstella.com/news-events/)

 

For further details:

 

Hg

Tom Eckersley
 
+44 (0)208 148 5401

 

HgCapital Trust

Laura
Dixon
+44 (0)20 8396 0930

 

Brunswick

Samantha
Chiene
+44 (0)207 404 5959

Hg@brunswickgroup.com

 

About HgCapital Trust plc

 

HgCapital Trust plc, whose shares are listed on the London Stock Exchange
(ticker: HGT.L), gives investors exposure through a liquid vehicle to a
portfolio of high-growth private companies in the software and services
sector. The selection of new investments and creation of value in these
businesses are managed by Hg, an experienced and well-resourced private equity
firm with a long-term track record of delivering superior risk-adjusted
returns for its investors. For further details, please see
www.hgcapitaltrust.com.

 

The contents of the Hg, HgCapital Trust, Norstella and Citeline websites are
not incorporated into, and do not form part of, this announcement.

 

 

 

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