REG - Trinity Capital - Completion of Disposal of Assets <Origin Href="QuoteRef">TRC.L</Origin>

Revel CollectiveAnnouncement

16/11/2016 07:00

RNS Number : 2525P
Trinity Capital PLC
16 November 2016
TRINITY CAPITAL PLC
Completion of Disposal of Assets
Following the announcement made on 21 October 2016, the Board of Trinity Capital PLC (the "Company") is now pleased to announce that the Company's wholly owned subsidiary, Trinity Capital Mauritius Limited ("TCML"), completed the realisation of its investments in Trinity Capital (One) Limited ("TC-1") and Trinity Capital (Five) Limited ("TC-5") on 15 November 2016. Disposal proceeds of 8.7 million were received by TCML.
The only remaining investment is Trinity Capital (Ten) Limited ("TC-10"), held together with Immobilien Development Indien I GmbH & Co. KG and Immobilien Development Indien II GmbH & Co. KG (together the "Immobilien Funds"). The Immobilien Funds have provided a formal commitment to permit and facilitate TC-10 to distribute to TCML the proceeds from a future sale of its indirect interests held in DB (BKC) Realtors Private Limited (formerly MK Malls & Developers Private Limited). 
The Immobilien Funds and TCML will now proceed and co-operate to discontinue all pending legal proceedings in Mauritius. 
At 31 March 2016, the Company's holdings in TC-1 and TC-5 were valued at an aggregate of 8.3 million. The Company's sole remaining investment is TCML's holding in TC-10. 
The Board intends to announce in due course a further distribution to shareholders and to commence consultations on the future of the Company.
More information on the Company is available at http://www.trinitycapitalplc.com/.
Enquiries:
FIM Capital Limited

Graham Smith
+44 1624 681250


Arden Partners

Nominated Adviser and Broker

Chris Hardie
+44 207 614 5900

This information is provided by RNS
The company news service from the London Stock Exchange
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