REG - North Atlantic Smlr - Acquisition of Sureserve Group Plc

North Atlantic Smaller Companies Investment TrustAnnouncement

21/04/2023 09:45

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RNS Number : 0539X  North Atlantic Smlr Co Inv Tst PLC  21 April 2023

 

NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC

 

 

Sureserve Group Plc

 

The directors are pleased to note the proposed acquisition of Sureserve Group
Plc.  The offer price represents a 40p premium to the 31(st) March 2023 share
price which will increase NASCIT's net asset value by £8m (and approximately
£10m including NASCIT's pro rata share of Oryx International Growth Fund
Limited's own holding of Sureserve Group Plc shares).  On completion the sale
will represent a profit of just over £16m since purchase.

 

At the end of March 2023 NASCIT's cash and cash equivalents balances amounted
to circa £95m and the sale on completion will increase this to approximately
£120m.

 

Enquiries:

Christopher Mills and Christopher Hart

020 7640 3200

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