HgCapital Trust PLC Hg sells Eidosmedia to CAPZA (3021X)
May 04 2021 - 1:00AM
UK Regulatory
TIDMHGT
RNS Number : 3021X
HgCapital Trust PLC
04 May 2021
Hg, the Manager of HgCapital Trust plc ("HGT"), today announces
that it has agreed the sale of Eidosmedia, a provider of Enterprise
Content Management ('ECM') software, primarily to the Media and
Financial Services verticals, to CAPZA, a European private
investment platform.
The terms of the transaction have not been disclosed.
HGT, whose shares are listed on the London Stock Exchange, gives
private and institutional investors the opportunity to participate
in all Hg's investments.
This transaction values HGT's investment in Eidosmedia at
approximately GBP0.8 million. This would represent an uplift of
GBP0.4 million (84% or 0.1 pence per share) over the carrying value
of GBP0.4 million in the Net Asset Value ("NAV") of HGT at 28
February 2021.
Note that these figures only relate to HgCapital Trust's share
of Hg's overall investment in Eidosmedia.
Based on the 28 February 2021 reported NAV, the pro-forma NAV of
the Trust is expected to be GBP1.3 billion (or 309.4 pence per
share). HGT's liquid resources available for future deployment
(including all announced transactions, the proposed full-year
dividend payable in May 2021 and equity raised via tap issuance)
are estimated to be GBP129 million (10% of the pro-forma 28
February 2021 NAV). In addition, HGT has access to a GBP200 million
standby facility, which is currently undrawn.
For further details:
Hg
Laura Dixon +44 (0)20 8396 0930
Brunswick
Samantha Chiene +44 (0)207 404 5959
Hg@brunswickgroup.com
About HgCapital Trust plc
HgCapital Trust plc, whose shares are listed on the London Stock
Exchange (ticker: HGT.L), gives investors exposure through a liquid
vehicle to a portfolio of high-growth private companies in the
software and services sector. The selection of new investments and
creation of value in these businesses are managed by Hg, an
experienced and well-resourced private equity firm with a long-term
track record of delivering superior risk-adjusted returns for its
investors. For further details, please see
www.hgcapitaltrust.com.
The contents of the Hg, HgCapital Trust, Eidosmedia and CAPZA
websites are not incorporated into, and do not form part of, this
announcement.
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