2 Jul 2019 07:01
2 July 2019
Better Capital PCC Limited 2012 Cell
Distribution of Capital
Further to Better Capital PCC Limited's (the "Company") announcement on 1 April 2019 regarding the sale by Spicers-OfficeTeam ("SPOT") of two of its subsidiaries, the General Partner (the "GP") of BECAP12 Fund LP (the "2012 Fund") has advised that SPOT has made a repayment of £3.0 million to the 2012 Fund. The GP of the 2012 Fund has, in turn, authorised a payment to the Company's 2012 Cell from the proceeds of the sale.
Having considered the working capital requirements of the 2012 Cell, the directors of the Company today announce a fifth distribution of capital of 1.0 pence per ordinary share to the 2012 Shareholders. In line with the previous distributions, this distribution of £2.9 million will be treated by the Company as a reduction of share capital paid out of monies attributed to the "share capital account".
The five capital distributions (reductions of share capital) announced to date for the 2012 Cell total £99.6 million or 28.0 per cent. of funds raised.
Details of the distribution timetable are as follows:
· Ex-date · Record date · Pay date | 11 July 2019 12 July 2019 19 July 2019 |
For further information, please contact:
Better Capital PCC Limited Norman Amey (Administrator and Company Secretary)
| +44 (0)1481 742 742 |
Numis Securities Limited Nathan Brown | +44 (0)20 7260 1000 |