RNS Number : 1460D
Private Equity Investor PLC
04 July 2016
Private Equity Investor plc
Portfolio Proposal
The Board of Private Equity Investor PLC ('the Company') announces that it has received a proposal to acquire 15 of its Limited Partnership ('LP') investments or approximately 87% of the NAV of the investment portfolio of the Company. The proposal is priced at a 35% discount to the net asset value of these holdings at 31 December 2015. The proposal is before expenses and subject to adjustment for distributions to, and capital calls from, the Company between 31 December 2015 and the closing date of the transaction. Unrestricted cash at calendar year-end totalled approximately £3.6 million ($4.8 million) and total restricted cash was approximately £3.0 million ($4.0 million). The LP assets not subject to the proposal totalled £2.5 million ($3.3 million) at the Company's year-end and include one Fund currently valued at £1.6 million ($2.1 million) which is subject to sale restriction. The Company will continue to progress negotiations and consult with significant Shareholders. In the absence of other, better alternatives, the Board intends to proceed with the sale.
Exchange rate: 1.33
4 July 2016
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