STRATEGIC EQUITY CAPITAL PLC

Net Asset Value • Jul 19, 2023

National Storage Mechanism | Additional information

Strategic Equity Capital Plc - Receipt of Medica proceeds

PR Newswire

LONDON, United Kingdom, July 19

19 July 2023

Strategic Equity Capital plc

Receipt of Medica proceeds

The Board of Strategic Equity Capital plc (“SEC” or the “Company”) is pleased to announce that, following the announcement by portfolio company Medica Group PLC (“Medica”) that the scheme of arrangement implementing its acquisition by Moonlight Bidco Limited had become effective, it has received proceeds of £30.75 million, equating to a £12.95 million realised total return and generating a return of 1.67x aggregate historical cost.

In accordance with the Company’s buyback policy, announced on 28 February 2022, whereby 50 per cent. of the capital proceeds from realised profitable transactions in each financial year will be made available to fund buybacks of its ordinary shares, the Company notes that an additional £15.38 million will be available for share buybacks, up to a discount of 5 per cent. to NAV per share, for the current financial year ending 30 June 2024.

The Company has adopted an approach to share buybacks whereby it seeks to utilise the Company’s available buyback authority on a sustained basis over the course of each financial year, with the objective of reducing the discount to net asset value at which the Company’s shares trade. However, to ensure the cash proceeds from the sale of Medica do not dilute investment returns, it expects to increase the level of share buybacks in the short term, subject to the 5 per cent. discount limit. The balance of these proceeds will be available to fund potential investments from the Manager’s strong current pipeline of new and follow on opportunities.

LEI: 2138003R5GB8QZU2G577

Enquiries:

Strategic Equity Capital plc

William Barlow (Chairman)

(via Juniper Partners)

Juniper Partners Limited (Company secretary)  0131 378 0500

Steven Davidson

KL Communications gh@kl-communications.com

Charles Gorman  +44 (0)20 3995 6673

Saurav Karia

Liberum Capital Limited

Chris Clarke             +44 (0) 20 3100 2000 

Darren Vickers

Owen Matthews

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