17 Jun 2010 07:00

From: F&C Private Equity Trust plc
To: RNS
Date: 17 June 2010
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Subject: Disposal of Investment
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F&C Private Equity Trust plc is pleased to announce the sale of its direct investment in ICS. The Company has received proceeds of £6.29m in cash and £0.5m in loan notes, which together with earlier distributions results in a net investment multiple of 2.5x and IRR of 73%. This represents an uplift of £1.45m on the carrying value of our position at 31 March 2010 or 0.9% of the last published NAV. There is also further potential upside to come through deferred contingent consideration and loan note interest. The investment, which was led by Inflexion Private Equity, was held for 22 months.
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The realisation of the Company's largest co-investment demonstrates the quality of the portfolio and the ability of our investment partners to create value even in the most difficult of market conditions.
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For further information please contact:
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Hamish Mair 0131 718 1184
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