24 Mar 2021 07:00
To: RNS
From: BMO Private Equity Trust PLC
Date: 24 March 2021
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Investment Update
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BMO Private Equity Trust PLC announces that the software company Dotmatics, in which the Company has a holding, has entered an agreement for its sale to US based company Insightful Science. The transaction is expected to complete early in Q2.
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The investment is led by Scotland based growth equity investor Scottish Equity Partners (SEP) and the company is also held in SEP Fund V. Taking both the co-investment and the holding through the fund together, the transaction values BMO Private Equity Trust's position at £37.7 million or 51 pence per share. This compares with the last published valuation (as at 30 September 2020) of £9.5 million or 13 pence per share.
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There is a small rollover into the new combined entity of 12% of the value with the remaining 88% of the value being paid in cash.
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The Company expects to release its preliminary results for the year ended 31 December 2020 shortly.
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Legal Entity Identifier: 2138009FW98WZFCGRN66
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For further information please contact:
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Hamish Mair (Investment Manager) | 0131 718 1184 |
Scott McEllen (Company Secretary) | 0131 718 1137 |
hamish.mair@bmogam.com / scott.mcellen@bmogam.com |
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This announcement is released by BMO Private Equity Trust PLC and qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").
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