21 Apr 2017 09:33
21 April 2017 Better Capital PCC Limited 2012 Cell
Distribution of Capital
Further to Better Capital PCC Limited's (the "Company") announcement on 30 March 2017 following the disposal of the debt instruments in BECAP Jaeger (UK) Limited ("Jaeger"), the General Partner of BECAP12 Fund LP has authorised a £8.3 million repayment to the Company's 2012 Cell. Having considered the working capital requirements of the 2012 Cell, the directors of the Company today announced a third distribution of capital of 2.6 pence per ordinary share to the 2012 Shareholders. In line with the previous distributions, this distribution of £8.3 million will be treated by the Company as a reduction of share capital paid out of monies attributed to the "share capital account".
The three capital distributions (reductions of share capital) announced to date for the 2012 Cell total £48.4 million, c. 13.6 per cent. of funds raised.
Details of the distribution are as follows:
· Ex-date 4 May 2017
· Record date 5 May 2017
· Payment date 12 May 2017
Enquiries:
Better Capital PCC Limited +44 (0) 1481 716 000
Laurence McNairn (Administrator and Company Secretary)
Better Capital LLP +44 (0) 20 7440 0840
Bonnie Kraus (Investor Relations)
Powerscourt +44 (0) 20 7250 1446
Justin Griffiths
Numis Securities +44 (0) 20 7260 1426
Nathan Brown