Restricted Voting Pool Realisation & Dividend (5920U)
December 23 2011 - 5:32AM
UK Regulatory
TIDMFPEO TIDMFPER
RNS Number : 5920U
F&C Private Equity Trust PLC
23 December 2011
To: RNS
Date: 23 December 2011
From: F&C Private Equity Trust plc
Significant Realisation Within the Restricted Voting Pool &
Special Dividend
The Board is pleased to announce that the Company has received
its share of the sale proceeds of Pan American Sports Enterprises,
a leading Spanish language pay television channel in the Americas,
from within the Hicks Muse Tate & Furst Fund IV portfolio. In
total, GBP1.4 million was received of which GBP0.9 million is
attributable to the Company's Restricted Voting Shares, equivalent
to 1.36 pence per Restricted Voting Share. The exit was achieved at
a significant premium to the latest carrying value of this holding
and consequently it has a material positive effect on the net asset
value of the Restricted Voting Pool which has become increasingly
concentrated following substantial realisations and distributions
since its formation in 2001. The increase in net asset value is
equivalent to 0.98 pence per Restricted Voting Share, or 14.0%,
based on the valuation as at 30 September 2011.
The Board is therefore pleased to declare a special dividend of
1.60 pence per Restricted Voting Share, which will be payable on 27
January 2012 to shareholders on the register on 6 January 2012.
For more information, please contact:
Hamish Mair (Investment Manager) 0131 718 1184
hamish.mair@fandc.com
Gordon Hay Smith (Company Secretary) 0131 718 1018
gordon.haysmith@fandc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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