Electra Private Equity PLC Completion of the sale of interest in Photobox (6603E)
October 19 2018 - 9:42AM
UK Regulatory
TIDMELTA
RNS Number : 6603E
Electra Private Equity PLC
19 October 2018
FOR IMMEDIATE RELEASE
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR PART,
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
19 October 2018
Electra Private Equity PLC
("Electra" or the "Company")
Further to the announcement of 4 October 2018, Electra is
pleased to announce that it has completed the sale of its interest
in Photobox to funds advised by Lexington Partners L.P.
Electra has received proceeds from the sale of GBP98m.
As announced on 4 October 2018, the Board has convened a general
meeting of the Company to be held at the offices of Allen &
Overy LLP, One Bishops Square, London E1 6AD at 10.00 a.m. on 30
October 2018 to consider the adoption of a revised investment
objective and policy. Further details of the general meeting and
revised investment objective and policy are set out in the
shareholder circular that was posted to shareholders on 4 October
2018. Subject to shareholder approval, the Board intends to
distribute excess cash as an initial special dividend of GBP140m in
December 2018.
The person responsible for arranging for the release of this
announcement on behalf of Electra Private Equity PLC is Gavin
Manson, Chief Financial Officer.
For further information, please contact:
Electra Private Equity PLC
Gavin Manson, Chief Financial Officer 020 3874 8300
Greenhill
David Wyles / Brenlen Jinkens / Michael Lord 020 7198 7400
Brunswick Group
Gil Ackers 020 7404 5959
Further information
Greenhill & Co. International LLP ("Greenhill") is
authorised and regulated by the FCA in the United Kingdom.
Greenhill is acting exclusively as financial adviser for the
Company and for no one else in connection with the matters referred
to in this announcement and will not be responsible to anyone other
than the Company for providing the protections afforded to clients
of Greenhill, or for providing advice in relation to the matters
referred to in this announcement. Neither Greenhill nor any of its
subsidiaries, branches or affiliates owes or accepts any duty,
liability or responsibility whatsoever (whether direct or indirect,
whether in contract, in tort, under statute or otherwise) to any
person who is not a client of Greenhill in connection with the
matters referred to in this announcement.
A copy of this announcement is also available on Electra's
website at www.electraequitycom.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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