By LSE RNS
SVG Capital plc
Kean House
6 Kean Street
London WC2B 4AS
Tel +44 (0)20 3457 0000
Fax +44 (0)20 3457 0009
www.svgcapital.com
Press Release
For immediate release 20 March 2017
Net Asset Value update
· Net asset value per share of 727p (as at 6 March 2017)
· Increase in net asset value per share reflects:
· Accretion from £300 million tender offer that closed in February 2017
· Sale of remaining unquoted company at a small uplift to cost
· Reduction in current, estimated costs associated with the winding up of the Company
· The current £400 million tender offer is priced at 715p per share
· Absent any other changes to the Company's net asset value, the Company expects the residual net asset value per share to be enhanced following the completion of the tender offer
· A winding up resolution is expected to be proposed to Shareholders on or after 31 May 2017 at which point the Company's shares are likely to be de-listed
· Distributions are expected to be made as part of the liquidation of the Company from Q3 2017. The amount and timing of any distribution in the winding up of the Company is not assured
For further information, please contact:
SVG Capital plc 020 3457 0000
Stuart Ballard or Alice Kain
Maitland 020 7379 5151
Neil Bennett/Tom Eckersley
Copies of the press release and other corporate information can be found on the company website at: www.svgcapital.com.
Forward-looking statements - this announcement contains certain forward-looking statements with respect to the portfolio of investments of SVG Capital. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. Nothing in this announcement should be construed as a profit forecast.
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