Unbound Group Plc

Director's Dealing • Jun 1, 2017

National Storage Mechanism | Additional information

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RNS Number : 7780G

Electra Private Equity PLC

01 June 2017

1 June 2017

Electra Private Equity PLC

Company Update

Electra Private Equity PLC ("Electra" or the "Company") is updating the market following the assumption of responsibilities from the former manager effective today.

Portfolio Composition & Balance Sheet Position

The Company's portfolio now reflects significant realisations since the period ended 31 March 2017. As at today the Company's pro forma balance sheet positionis shown below, using 31 March 2017 values as adjusted for completed realisations:

		Pro Forma as at 1 June 2017
		Investment Value(1)	Attributable Carried Interest(2)	Net Asset Value		NAV per Share (pence)
	(£ millions)
TGI Fridays		120.4	(17.3)	103.1		269p
Photobox		102.7	(2.6)	100.1		261p
Hotter Shoes		42.6	(6.1)	36.5		95p
Knight Square		26.2	(3.8)	22.4		59p
Other		7.0	(0.9)	6.1		16p
	Buyouts and Co-investments	298.9	(30.8)	268.1		700p
Funds		61.0	(0.2)	60.8		159p
Listed		8.3	(0.5)	7.8		20p
	Non-Core	69.3	(0.7)	68.6		179p
Cordatus VI		19.8	(0.5)	19.3		50p
Tymon Park		15.8	(0.4)	15.4		40p
Other		9.2	(0.2)	9.0		23p
	Debt	44.8	(1.2)	43.6		114p
Secondaries		3.2	(0.5)	2.7		7p
	Investment Portfolio	416.2	(33.1)	383.1		1,001p
Cash				774.0		2,022p
Termination Payment Payable(3)				(34.0)		(89p)
Other Net Assets / (Liabilities)				(4.0)		(10p)
	Pro Forma Net Asset Value			£1,119.1		2,923p

Giving effect to the 914p dividend declared by the Company on 25 May 2017, pro forma net asset value would be £769 million, comprised of net cash balances of £386 million and investments of £383 million.

(1)   Values as at 31 March 2017

(2)   Carried interest is payable to the former manager only upon realisation of the investment; represents accrued amount based on 31 March 2017 Investment Value, as adjusted for the 20% reduction in carried interest following the former manager's termination

(3)   Termination payment to former manager payable at termination

Strategic Review

As noted in the Company's half year results on 25 May 2017, Phase II of the Strategic Review will commence today and will be announced in the fourth quarter of 2017.

Contact Details From Today's Date

From today the Company's primary contact for shareholders and analysts will be:

Gavin Manson

Chief Financial Officer

+44 (20) 3874 8300

[email protected]

As previously announced, the Company's registered address and Head Office is:

First Floor

50 Grosvenor Hill

London W1K 3QT

For further information:

For Electra Private Equity PLC:

Gavin Manson, Chief Financial Officer 020 3874 8300

Rowan Brown or Miranda Ward, Brunswick Group 020 7404 5959

This information is provided by RNS

The company news service from the London Stock Exchange

END

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