RCS - Literacy Capital PLC - New Investment and Refinancing

Literacy CapitalAnnouncement

11/03/2025 07:15

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RNS Number : 0772A  Literacy Capital PLC  11 March 2025

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Republic of South Africa.

 

 

11 March 2025

 

Literacy Capital plc ("Literacy Capital", "BOOK" or the "Fund")

 

New Investment

 

Literacy Capital invests in Trinitatum

 

Literacy Capital is pleased to announce its investment into Trinitatum (the
"Company), a provider of test automation software and related services within
the energy and financial trading markets.

 

BOOK has made an investment, alongside its founders, Jed Dalton & Steve
Baker, who will remain with the Company. Literacy has a majority stake in the
Company, whilst further financial terms have remained undisclosed.

 

Trinitatum (www.trinitatum.com) was founded in 2013 and has spent ten years
developing and refining its proprietary software, Triangle, to optimise its
test automation solutions, which integrate with customers' platforms. Its
suite of products are complemented by a high-quality service offering. As a
result, the Company has developed strong relationships with a loyal blue-chip
customer base and built an excellent reputation for providing high-quality
test solutions.

 

Jeff Hewitt, formerly Executive Director of Civica's Local Government
division, will be appointed non-executive Chair of the Company, bringing
significant experience in assisting and scaling software businesses. BOOK will
also assist in building a complete executive team, to help professionalise
operations and maximise the potential of the business. A new CEO and Finance
Director will join immediately, with a new CMO joining in the coming weeks.

 

The Trinitatum platform was originally designed to serve customers in the
energy and financial trading markets, however there are further applications
for the product, which the enhanced and expanded management team will help to
explore.

 

 

Refinancing of portfolio company completed

 

Transaction highlights:

 

·   BOOK completed its second portfolio company refinancing of 2025 before
the end of February. This portfolio  company is demonstrating strong growth
in revenue and profitability, with a new senior lender providing debt
facilities to the company to repay Literacy Capital's original investment in
full.

·     The cash proceeds received from this transaction were utilised to
fund the investment into Trinitatum.

·    BOOK continues to manage its portfolio to generate cash, in order to
i) fund new investments; ii) reduce the Fund's RCF debt; iii) ultimately, to
return capital to shareholders.

Richard Pindar, CEO of BOOK's Investment Manager, commented:

 

"We are really pleased to complete the investment in Trinitatum. The
founder-led business and its current situation, shares many characteristics
with other investments that BOOK has previously completed, that have performed
really strongly for us.

 

We are delighted with the calibre of the individuals that we have been able to
introduce to Trinitatum, most of whom start with the Company immediately.
Their experience is highly relevant to the task to improve and grow
Trinitatum. We believe they will compliment the skills and experience of the
founders, Jed and Steve, really well."

 

 

Enquiries

 

For further information, please contact:

 

 

     Literacy Capital plc / Book Asset Management LLP:     +44 (0) 20 3960 0280

     Richard Pindar / Aasha Tailor

     MHP Group:                                            +44 (0) 7817 458804

     Reg Hoare / Ollie Hoare / Matthew Taylor              book@mhpgroup.com (mailto:book@mhpgroup.com)

     Singer Capital Markets Securities Limited:            +44 (0) 20 7496 3000

     Alaina Wong

 

 

About Literacy Capital:

 

Literacy Capital (BOOK.L) is an investment trust that was co-founded by Paul
Pindar and Richard Pindar in 2017 with £54m of capital. Literacy subsequently
listed on the London Stock Exchange in June 2021. The Fund focuses on
opportunities to invest for the long-term in growing private businesses where
a clear route to creating additional value can be seen with its support. The
fund structure is evergreen, allowing it to be more flexible and to
accommodate the wishes or needs of founders.

 

It also has a unique charitable objective, to donate 0.5% of annual NAV to
charities focused on improving UK literacy in children. £11.2m has been
donated or reserved for donation to charities since the trust's creation in
2017.  For more information, please visit our website:
www.literacycapital.com (http://www.literacycapital.com) .

 

 

 

Website:

www.literacycapital.com (http://www.literacycapital.com)

 

LEI: 2549006P3DFN5HLFGR54

 

A copy of this announcement will be available on the Fund's website
at www.literacycapital.com (http://www.literacycapital.com) .

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