1 Apr 2019 07:00
Better Capital PCC Limited 2012 Cell
1 April 2019
Sale of Waterlow Business Supplies and Oyez Professional Services
The General Partner of BECAP12 Fund LP ("Fund II") has informed Better Capital PCC Limited (the "Company") that the portfolio company Spicers-OfficeTeam ("SPOT") has sold two of its subsidiaries, Waterlow Business Supplies and Oyez Professional Services. The net proceeds achieved by SPOT were a significant premium to the value attributed to these operations in the latest financial statements of the Company and represent a substantial proportion of the Company's carrying value of the SPOT investment.
The intention is that SPOT will make a repayment to Fund II in due course and a further announcement will in turn be made in regards to a distribution to the 2012 Shareholders.
Enquiries:
| |
Better Capital PCC Limited Norman Amey (Administrator and Company Secretary)
| +44 (0) 1481 742 742 |
Powerscourt Justin Griffiths
| +44 (0) 20 7250 1446 |
Numis Securities Nathan Brown | +44 (0) 20 7260 1426 |