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DJ EPE Special Opportunities PLC Investment Update and Net Asset Value

TIDMESO TIDMEC.P TIDMEO.P

RNS Number : 7032G

EPE Special Opportunities PLC

11 June 2013

EPE Special Opportunities plc

Investment Update and Net Asset Value

11 June 2013

EPE Special Opportunities plc ("ESO plc") announces that ESO Investments 1 LP ("ESO 1 LP"), a limited partnership in which it is the majority limited partner, has disposed of its residual investment in Palatinate Schools Holdings Limited ("Palatinate"), a private schools group, to Minerva Education Finance Limited.

The disposal returns GBP6.9 million in total to ESO 1 LP at the exit date, GBP6.8million as cash and GBP0.1million as warranty retention, and a total of GBP11.4 million since the acquisition in September 2010 via income, repayment of loans in October 2012 and the disposal proceeds. The total return to ESO 1 LP since September 2010 equates to a 2.4x Money Multiple and 43.3% IRR.

The disposal has a positive impact on ESO plc and was completed at a 31.4% premium to Palatinate's prevailing holding value of GBP5.2 million. ESO plc intends to use the capital returned for new deals.

In addition, the Directors of ESO plc wish to announce that the NAV at 31 May 2013 was 102.23 pence per share. After taking into account the Palatinate disposal proceeds, the revised NAV as at 7 June 2013 is estimated at 106.02 pence per share, representing an uplift of 3.79 pence per share.

Enquiries:

 
 EPIC Private Equity LLP                James Henderson 
                                         +44 (0) 20 7269 8862 
=====================================  ====================== 
 
 IOMA Fund and Investment Management    Philip Scales 
  Limited                                +44 (0) 1624 681250 
=====================================  ====================== 
 
 Cardew Group                           Richard Spiegelberg 
                                         +44 (0) 20 7930 0777 
=====================================  ====================== 
 
 Numis Securities Ltd                   +44 (0) 20 7260 1000 
=====================================  ====================== 
 Nominated Advisor:                     Stuart Skinner 
=====================================  ====================== 
 Corporate Broker:                      Alex Ham 
=====================================  ====================== 
 

Disclaimer: This valuation, which has been prepared in good faith by the Company's investment adviser, is for information purposes only. It is derived from unaudited estimated valuations of the Company's underlying investments based on information received by the investment adviser which may relate to dates or periods some time before the date of this valuation. Such estimates may be subject to little verification or other due diligence and may not comply with generally accepted accounting practices or other generally accepted valuation principles. If a valuation estimate subsequently proves to be incorrect, no adjustment is expected to be made to any previously published estimated net asset value.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCGMGMVKGDGFZM

(END) Dow Jones Newswires

June 11, 2013 02:00 ET (06:00 GMT)

DJ EPE Special Opportunities PLC Investment Update and Net Asset Value

TIDMESO TIDMEC.P TIDMEO.P

RNS Number : 7032G

EPE Special Opportunities PLC

11 June 2013

EPE Special Opportunities plc

Investment Update and Net Asset Value

11 June 2013

EPE Special Opportunities plc ("ESO plc") announces that ESO Investments 1 LP ("ESO 1 LP"), a limited partnership in which it is the majority limited partner, has disposed of its residual investment in Palatinate Schools Holdings Limited ("Palatinate"), a private schools group, to Minerva Education Finance Limited.

The disposal returns GBP6.9 million in total to ESO 1 LP at the exit date, GBP6.8million as cash and GBP0.1million as warranty retention, and a total of GBP11.4 million since the acquisition in September 2010 via income, repayment of loans in October 2012 and the disposal proceeds. The total return to ESO 1 LP since September 2010 equates to a 2.4x Money Multiple and 43.3% IRR.

The disposal has a positive impact on ESO plc and was completed at a 31.4% premium to Palatinate's prevailing holding value of GBP5.2 million. ESO plc intends to use the capital returned for new deals.

In addition, the Directors of ESO plc wish to announce that the NAV at 31 May 2013 was 102.23 pence per share. After taking into account the Palatinate disposal proceeds, the revised NAV as at 7 June 2013 is estimated at 106.02 pence per share, representing an uplift of 3.79 pence per share.

Enquiries:

 
 EPIC Private Equity LLP                James Henderson 
                                         +44 (0) 20 7269 8862 
=====================================  ====================== 
 
 IOMA Fund and Investment Management    Philip Scales 
  Limited                                +44 (0) 1624 681250 
=====================================  ====================== 
 
 Cardew Group                           Richard Spiegelberg 
                                         +44 (0) 20 7930 0777 
=====================================  ====================== 
 
 Numis Securities Ltd                   +44 (0) 20 7260 1000 
=====================================  ====================== 
 Nominated Advisor:                     Stuart Skinner 
=====================================  ====================== 
 Corporate Broker:                      Alex Ham 
=====================================  ====================== 
 

Disclaimer: This valuation, which has been prepared in good faith by the Company's investment adviser, is for information purposes only. It is derived from unaudited estimated valuations of the Company's underlying investments based on information received by the investment adviser which may relate to dates or periods some time before the date of this valuation. Such estimates may be subject to little verification or other due diligence and may not comply with generally accepted accounting practices or other generally accepted valuation principles. If a valuation estimate subsequently proves to be incorrect, no adjustment is expected to be made to any previously published estimated net asset value.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCGMGMVKGDGFZM

(END) Dow Jones Newswires

June 11, 2013 02:00 ET (06:00 GMT)