Dunedin Ent.it. Regulatory News (DNE)

Dunedin Enterprise Investment Trust PLC

LEI: 213800E2VLUZ5AF9Z434

Date: 16 November 2023

Time: 07.00am

Preliminary Unaudited Net Asset Value announcement for 30 September 2023

1. Unaudited net asset value per share

The unaudited net asset value per share at 30 September 2023 was 617.6p. This represents a total return per share of 1.4% during the quarter when compared to the net asset value per share of 609.2p as at 30 June 2023.

2. Share price

The share price has decreased by from 560p to 530p in the quarter to 30 September 2023. The share price total return for the quarter to 30 September 2023 was -5.4%. This compares to an increase in the FTSE Small Cap Index of 1.8% over the same period. The discount to net asset value at 30 September 2023 was 14.2%.

3. Balance Sheet

The unaudited balance sheet as at 30 September 2023 is noted below: -

4. Net asset value movements

The portfolio of investments has been re-valued at 30 September 2023. The increase in net asset value in the quarter can be attributed to a valuation increase at Premier Hytemp (£0.5m). Following the quarter end an agreement was reached to realise the investment in Premier Hytemp. Completion of the transaction is subject to satisfaction of certain customary closing conditions. Proceeds from the sale are expected to amount to £4.9m in line with the valuation.

5. Cash and Commitments

Dunedin Enterprise held cash and near cash balances of £18.4m. Outstanding capital commitments to limited partnership funds are £9.0m.  It is the Board's intention to retain sufficient cash reserves to meet all outstanding capital commitments and short-term operating expenses of the Company.

For further information on Dunedin Enterprise please go to www.dunedinenterprise.com