Hygea VCT plc ("the Company") announces the sale of its investment in DxS Limited, which provides molecular diagnostic products and services to the healthcare industry, for initial cash proceeds of £3.6 million. The Company may become entitled to receive up to a further £2.5 million over the period to 2012 subject to the achievement by DxS of specified objectives.
The initial sale price of £3.6 million, which includes repayment of loans and interest thereon,represents an uplift of £1.2 million (equivalent to 14.4p per ordinary share in the Company) over the carrying value of the investment as reflected in the unaudited net asset value of 75.3p per share as at 30 June 2009 which was announced by the Company on 19 August 2009.
The Company invested a total of £0.3 million in DxS in early-stage funding rounds led by NVM Private Equity in 2004 and 2006. The total income and capital proceeds to date (excluding contingent future payments) represent a money multiple of 11.2 times the original investment.
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.