Oakley Capital Investments Limited

Regulatory Filings • Jan 31, 2018

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RNS Number : 4053D

Oakley Capital Investments Limited

31 January 2018

31 January 2018

Oakley Capital Investments Limited

Trading update for the twelve months ended 31 December 2017

Oakley Capital Investments Limited1 (AIM:OCI, the "Company"), which provides its shareholders with access to a portfolio of high quality companies through its investments in the Oakley Funds2, today announces a trading update for the 12 months ended 31 December 2017.

·      NAV per share (unaudited) expected to be in the range of £2.43 - £2.45, representing an increase of at least 5% on December 2016 (£2.31)

·      The Company has deployed £157.0m in the Oakley Funds and equity co-investments in 2017, during a period of significant investment

·      The Company received £88.2m of distributions in the period

·      Fund III closed at €800m in September 2017 of which the Company committed €326m

·      Interim dividend of 2.25 pence, paid on 26 October 2017

Oakley Capital Limited ("Oakley Capital"), the Company's Investment Adviser, estimates that the Company's net asset value ("NAV"), which is subject to the completion of the 31 December 2017 audit of both the Oakley Funds and the Company, will be in the range of £498m to £502m, equating to a NAV per share of £2.43 to £2.45 (31 December 2016: £2.31).

Fund III has been active in deploying its capital and has invested €310.2m in five investments during the year, and completed another acquisition in January 2018 investing a further €84.6m. These portfolio companies represent investments in digital consumer, education and technology assets. The average entry EV/EBITDA multiple in Fund III, across all six assets, is currently 9.4x, reflecting the Investment Adviser's continued ability to access quality assets at attractive prices. OCI has an indirect interest in these portfolio companies through its 40.7% holding in Fund III.

During the year, the Company received £88.2m of distributions from the Oakley Funds and equity co-investments, relating to exits and refinancings.

The Company expects to report its annual results for 2017 on Thursday 15 March 2018.

- This announcement contains inside information -

For further information please contact:

Oakley Capital Investments Limited

+44 20 7766 6900

Peter Dubens, Director

Steven Tredget, Investor Relations

FTI Consulting LLP

+44 20 3727 1000

Edward Bridges / Stephanie Ellis

Liberum Capital Limited (Nominated Adviser & Broker)

+44 20 3100 2000

Steve Pearce / Henry Freeman / Jill Li

1 About Oakley Capital Investments Limited ("OCI")

Oakley Capital Investments Limited is a Bermudian company listed on AIM. OCI seeks to provide investors with long term capital appreciation through its investment in Oakley Capital Private Equity L.P., Oakley Capital Private Equity II, Oakley Capital Private Equity III and through co-investment opportunities.

LEI Number: 213800KW6MZUK12CQ815

2 About Oakley Capital Private Equity L.P. ("Fund I"), Oakley Capital Private Equity II ("Fund II") and Oakley Capital Private Equity III ("Fund III") collectively the "Oakley Funds"

Oakley Capital Private Equity L.P. and its successor funds, Oakley Capital Private Equity II and Oakley Capital Private Equity III, are unlisted mid-market private equity funds with the aim of providing investors with significant long term capital appreciation. The investment strategy of the funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement.

This information is provided by RNS

The company news service from the London Stock Exchange

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