Eredene Capital PLC Sale of Stake in Ocean Sparkle Limited (9278G)
13 6월 2013 - 3:00PM
UK Regulatory
TIDMERE
RNS Number : 9278G
Eredene Capital PLC
13 June 2013
Date: 13 June 2013
On behalf of: Eredene Capital PLC ("Eredene", "Eredene Group" or "the Company")
Embargoed until: 0700hrs
Eredene Capital PLC
-- Eredene Group sells its stake in Ocean Sparkle Limited,
India's leading port operations and marine services company
-- Sale is part of Eredene's strategy to realise assets and
return capital to shareholders
Eredene Capital PLC (AIM: ERE), the AIM quoted investor in
Indian infrastructure, announced today that its subsidiary, West
Coast Port Ltd, has sold its stake in Ocean Sparkle Limited
("OSL"), India's leading port operations and marine services
company, to Mauritius-based Infrastructure India Holdings Fund LLC
("IIHF") for GBP8.2m.
The Eredene Group held 6.8% of OSL, which it purchased in 2010
for GBP7.3m, and the transaction represents a gross premium of 39%
over investment cost in Indian Rupee terms.
The sale is part of Eredene's strategy of realising its
investments in India and returning capital to shareholders. An
initial return to shareholders of GBP15.3m, equivalent to 3.4 pence
per share, was made in August 2012 via a share buyback at 18 pence
per share, and Eredene intends to make further returns to
shareholders.
IIHF is an existing shareholder of OSL, which operates India's
largest fleet of harbour tugs with a presence in most of the
leading ports in India.
Alastair King, founder and Chief Executive of Eredene, said:
"The sale provides a healthy return on Eredene's original
investment in OSL and it is also at a premium to the book value of
the investment. This is an important milestone in the Company's
strategy of making a phased realisation of its investments in India
to maximise value and return capital to shareholders."
For further information:
Eredene Capital PLC
Alastair King (Chief Executive) / Brian Mooney Tel: +44 20 7448
8000
brian.mooney@eredene.com Tel: +44 7808 162 458
Eredene Capital Advisors Private Limited
Ranveer Sharma (Managing Director) Tel: +91 22 6737 7373
Ranveer.Sharma@eredene.com
Numis Securities Limited (Nominated adviser & joint
broker)
Heraclis Economides (Nominated Adviser) / David Benda Tel: +44 20 7260 1000
Redleaf Polhill (Financial PR)
Henry Columbine / David Ison / Hannah Fensome Tel: +44 20 7382 4720
eredene@redleafpolhill.com
Notes to Editors:
-- Eredene Capital PLC is a leading UK-based AIM quoted investor
in infrastructure projects in India. Following the sale of its
stake in OSL, it has a portfolio of eight principal investments in
India, seven in port services, warehousing and logistics and one in
low-cost housing (www.eredene.com).
-- Eredene trades on the Alternative Investment Market ("AIM")
of the London Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISFMGMVVZDGFZM
Eredene Capital (LSE:ERE)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Eredene Capital (LSE:ERE)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024
