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North Atlantic Smaller Companies Invesment Trust PLC M&A Activity 2021
5189_tar_2021-09-23_947e6b1d-2375-4826-b59d-52838e30b448.html
M&A Activity
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National Storage Mechanism | Additional information 
RNS Number : 7766M
North Atlantic Smlr Co Inv Tst PLC
23 September 2021
23 September 2021
NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC
("NASCIT")
Major liquidity events
The Board of North Atlantic Smaller Companies Investment Trust plc is pleased to note the offer for Augean plc at 372pps. When the acquisition is completed this will add circa £63m to NASCIT's cash resources.
Hamsard Limited is being sold for circa £20m (including proceeds from Harwood Private Equity Fund IV) with the cash proceeds expected to be received by the end of this month.
Sportech plc is tendering for approximately half the company which will release a further £6m in the short term whilst the announcement that BigBlu Broadband plc is distributing 45pps will add a further £4m in cash. This with two other small transactions should result in nearly £100m of additional liquidity by Christmas.
The Board of NASCIT would like to thank Jim Meredith, the Executive Chairman of Augean, and the management team for their outstanding achievement in building value for shareholders. The offer represents a 10.7x return on our investment over a four-year period.
For any inquiries please contact:
Jane Muir
Derringtons Ltd Company Secretary
+ 44 (0) 20 8819 6486
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