4 Feb 2014 07:00
Better Capital PCC Limited
4 February 2014
Better Capital PCC Limited (the "Company") today provides the following trading update.
2009 Cell
Trading conditions at two of the more material portfolio companies have been significantly below expectations in recent months. Both companies remain profitable but, based upon current trading levels and the impact these recent issues have on the multiple-based valuations, it is anticipated that a significant write-down in the value of these companies will be recorded as at the 31 March 2014 valuation date and consequently it is probable that the net asset value of the 2009 Cell will decline by a material amount as at that date.
2012 Cell
All three of the portfolio companies continue to show demonstrable progress and consequently it is probable that the net asset value of the 2012 Cell will be maintained or increased as at the 31 March 2014 valuation date.
The Company is required to publish an Interim Management Statement by no later than 17 February 2014 and intends in that announcement to provide further information about trading conditions at the portfolio companies, to the extent that such additional disclosure is not commercially detrimental.
Enquiries:
Better Capital PCC Limited
Jon Moulton (Director) +44 (0)20 7440 0840
Laurence McNairn (Administrator and Company Secretary) +44 (0)1481 716 000
Better Capital LLP +44 (0)20 7440 0840
Mark Aldridge (Chief Executive Officer)
Nick Sanders (Head of Portfolio)
Numis Securities Limited (Corporate Broker & Financial Adviser) +44 (0)20 7260 1000
Nathan Brown
Oliver Hardy