UBG Unbound Group Plc

TIDMELTA

Electra Private Equity PLC

19 April 2021

London, UK, 19 April 2021

Edison issues update on Electra Private Equity (ELTA)

On 15 April, Electra Private Equity (ELTA) announced the disposal of Sentinel - one of the company's three remaining operating businesses - for GBP22.2m (58.1p per share), GBP11.3m higher than the asset's carrying value on the balance sheet as at 30 September 2021. ELTA has been following a realisation strategy since October 2016, when it had a market cap of c GBP1.7bn, and has since returned c GBP2bn to shareholders. Since our 16 December 2020 initiation note, the shares have appreciated from a 22% discount to NAV to currently trading at a 4.1% premium.

Electra Private Equity's (ELTA) investment objective is to follow a realisation strategy, which aims to crystallise value for shareholders through balancing the timing of returning cash to shareholders with maximisation of value. Following the realisation of Sentinel, ELTA intends to retain the cash received pending further asset realisations and confirmation of future distributions to shareholders in due course.

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April 19, 2021 02:00 ET (06:00 GMT)

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