DUNEDIN ENTERPRISE INVESTMENT TRUST PLC

Share Issue/Capital Change • Sep 28, 2018

National Storage Mechanism | Additional information

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RNS Number : 2496C

Dunedin Enterprise Inv Trust PLC

28 September 2018

Dunedin Enterprise Investment Trust PLC (Company No SC52844)

LEI: 213800E2VLUZ5AF9Z434

Third Return of Capital via the issue of B Shares

We are pleased to announce the successful realisation of Pyroguard, the specialist fire resistant glass manufacturer.  Total proceeds from the sale amounted to £9.3m representing an uplift of £0.4m over the valuation of £8.9m at 31 March 2018.  The original cost of the investment was £3.8m and over its life, a total of £22.5m has been received by Dunedin Enterprise, representing a 5.9 times return and an IRR of 35%.

Following the realisation of Pyroguard the Board has decided to return £10.3m to shareholders via an issue of B Shares as set out in the Circular sent to shareholders on 3 April 2017 and as approved by shareholders on 11 May 2017.  This follows the first issue of B Shares in December 2017 which returned £20.6m of capital to shareholders and a second issue of B Shares in February 2018 which returned £10.3m of capital to shareholders.

B Shares of 50p each will be paid up from capital and issued to all shareholders by way of a bonus issue pro-rata to their holding of Ordinary Shares on the basis of one B Share for every one Ordinary Share held at the record date of 6.00pm on 8 October 2018.  The B Shares will be issued on 9 October 2018 and immediately redeemed at 50p per B Share.  The Ordinary Shares will trade ex-B Share entitlement with effect from 5 October 2018.

The proceeds from the redemption of the B Shares will be sent to shareholders on 23 October 2018, either through CREST to uncertificated shareholders or via cheque to certificated shareholders.

A copy of the Circular sent to Shareholders is available on the Company's website (www.dunedinenterprise.com).  Also available on the website is a Guide to the B Share Scheme which includes an illustration for the computation of the chargeable gain on the B Shares for tax purposes. 

This announcement contains inside information for the purposes of article 7 of EU Regulation 596/2014. Upon publication of this announcement, this inside information is now considered to be in the public domain.

For further information, please contact:

Dunedin LLP, Company Secretary

Telephone: 0131 225 6699

For further information on Dunedin Enterprise, please go to www.dunedinenterprise.com

28 September 2018

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