Disposal
January 15 2009 - 2:00AM
UK Regulatory
TIDMAPL
RNS Number : 6691L
ACP Capital Limited
15 January 2009
15 January 2009
ACP Capital Limited (AIM:APL) today announces that it has concluded an agreement
to sell its 40% shareholding in GCI Automotive Holding GmbH for a cash
consideration of EUR3.75m. The company will receive an initial sum of EUR2.88m
together with two further payments of EUR434,700 each on 30 June 2009 and 31
December 2009. Including FX gains, the sale price represents a 46 percent
premium to book value.
As part of this same transaction, ACP Mezzanine Limited (AIM:ACPM) has agreed to
sell its EUR3.00m debt portion of this investment at par plus accrued interest,
which represents a 17.5 percent IRR.
The company further notes that it expects to return to shareholders the
proceeds of this disposal as soon as practicable in accordance with company
policy of promptly distributing all excess capital to shareholders.
Enquiries
* Hugh Field, Collins Stewart Europe, +44 (0) 207 523 8350 (Nominated Adviser)
* Tim McCall/James Longfield, Hogarth Partnership, +44 (0) 207 357 9477
This information is provided by RNS
The company news service from the London Stock Exchange
END
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