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Premier Asset Management float allows Electra to cash in

Tue, 04th Oct 2016 07:12

(ShareCast News) - Premier Asset Management Group completed its initial public offering in London on Tuesday, allowing Electra Partners to partially realise an investment by its Electra Private Equity vehicle.Premier AM, a UK retail asset management group, placed 35.9m new and 12.4m existing shares at a price of 132p apiece, raising a gross £63.7m, of which £47.4m will go to the company.After the float, Electra and fellow investor Queripel Partners will still own just over 54%, of which Queripel will hold 33%, with both parties and Premier's directors and some senior management agreeing 'lock-up' arrangements not to sell shares for a specified period.Based on the offer price, Electra's investment in Premier has a value of £46m - an uplift of £13m or 39% on the valuation at 31 March, implying an increase in net asset value per share of 26p."On admission, Electra is expected to receive cash proceeds of £36m from the redemption of preference shares and sale of ordinary shares in Premier," Electra said."In addition Electra will hold approximately 8% of the issued ordinary share capital of Premier with a valuation at the offer price of £10m; these shares are subject to a six-month lock-up."Shares in Electra Private Equity finished Monday up 0.16% at 4,322p, prior to the announcement.
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16 May 2019 10:09

Electra Private Equity Assets Fall As Portfolio Realisations Continue

LONDON (Alliance News) - Electra Private Equity PLC net asset decreased in financial 2019 as the investment trust adopted the realisation policy voted in by shareholders in doubled shareholder and

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9 May 2019 16:12

UK Earnings, Trading Statements Calendar - Next 7 Days

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30 Apr 2019 13:04

Sherborne Investors Vehicles For Electra, Barclays See Drop In Value

LONDON (Alliance News) - Sherborne Investors (Guernsey) B Ltd and Sherborne Investors (Guernsey) C Ltd both on Tuesday reported a sharp fall in net asset value.The funds were set up with of

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20 Feb 2019 16:07

UK Shareholder Meetings Calendar - Next 7 Days

Thursday 21 FebruarySSP GroupSunrise ResourcesIntegrafin HoldingsTertiary 22 25 UK of

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11 Dec 2018 09:40

Electra Private Equity Winds Down But Waiting To Sell Retail Assets

LONDON (Alliance News) - Electra Private Equity PLC on Tuesday reported its net assets decreased in the financial year ended September 30 as the company manages its wind down but held onto its UK

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19 Oct 2018 16:39

Electra Private Equity Sells Photobox Interest For GBP98 Million

LONDON (Alliance News) - Electra Private Equity PLC said Friday it has completed the sale of its Photobox interest to funds advised by Lexington Partners LP.The investment trust, which is a

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4 Oct 2018 09:44

Electra Selling Interest In Two Assets, Plans To Wind Down

LONDON (Alliance News) - Electra Private Equity PLC on Thursday said it has agreed the sale of its Photobox and Knight Square interests to funds advised by Lexington Partners LP.The trust A

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24 Aug 2018 08:49

Electra Private Equity Ends Sale Process, Still Plans Asset Disposals

LONDON (Alliance News) - Electra Private Equity PLC said Friday it has closed its formal sales process without receiving any offers to acquire the company.Back in May, the investment trust

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24 May 2018 12:52

Electra Private Equity Asset Value Falls After Hefty Special Dividend

LONDON (Alliance News) - Electra Private Equity PLC said Thursday its asset value fell sharply after the payment of a hefty special dividend and as poor weather in March impacted its portfolio as

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19 Mar 2018 08:25

TOP NEWS: Barclays Engages With Activist Sherborne Amid 5.2% Stake (ALLISS)

LONDON (Alliance News) - Barclays PLC said Monday that activist investor Sherborne Investors Management LP had built a 5.2% stake in the FTSE 100-listed bank after by a number

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19 Mar 2018 07:54

UPDATE 1-Sherborne acquires voting rights over 5.16 pct in Barclays

LONDON, March 19 (Reuters) - Barclays said on Monday that entities controlled by activist investor Sherborne had acquired voting rights of 5.16 percent in the British issued a

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16 Feb 2017 07:40

Electra gets £104m from AXIO sale of OAG

(ShareCast News) - Epiris, the portfolio manager of buyout fund Electra Private Equity, said its portfolio company AXIO Group has sold aviation intelligence group OAG, to funds managed by Vitruvian Partners for around $215m. Electra has received proceeds from AXIO of £104m, an uplift of £28m or 37%

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16 Feb 2017 07:27

TOP NEWS: Electra Receives GBP104.0 Million From OAG Sale By AXIO

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3 Feb 2017 08:33

LONDON MARKET OPEN: Beazley Rises As Investment Returns Lift Profit

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3 Feb 2017 07:25

TOP NEWS: Electra To Receive GBP203.0 Million From Auditonix Sale

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