Core VCT IV PLC Core Vct Iv Plc : Miscellaneous
17 11월 2014 - 11:24PM
UK Regulatory
TIDMCR4
From: Core VCT IV plc
Date: 17 November 2014
Sale of Camwatch Limited and Related Party Transaction
The Board of Core VCT IV plc is pleased to announce that the Company's
mezzanine investment in Camwatch Limited was realised today for a cash
consideration of GBP1.5 million. Including the yield received over the
life of the investment this has provided an attractive 2.4x return on
the investment cost and an IRR of 19.9% pa.
Following this realisation, the Company's Net Asset Value has increased
by 5.4% from 63.51p per ordinary share to 66.92p per ordinary share.
In relation to the realisation, the Board has agreed to pay Core Capital
Partners LLP, the investment manager of the Company, an advisory fee of
GBP20,000. As Core Capital Partners LLP is a related party of the
Company under the Listing Rules, the agreement to pay this advisory fee
is a transaction to which Listing Rule 11.1.10R applies.
As previously reported, the Board of Core VCT IV plc is in the process
of determining the optimal method of distributing proceeds to
shareholders whilst preserving the Company's VCT tax status. These
proposals will be presented to shareholders before the next AGM.
For further information please contact:
Rhonda Nicoll,
Company Secretary
020 3179 0930
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Core VCT IV plc via Globenewswire
HUG#1872089
http://www.core-cap.com/
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