Dunedin Ent.it. Regulatory News (DNE)

Dunedin Enterprise Investment Trust PLC

Date: 25 August 2022

LEI: 213800E2VLUZ5AF9Z434

RED realisation

Dunedin Enterprise Investment Trust PLC is pleased to announce that Dunedin Buyout Fund II LP has entered into a legally binding agreement to realise the investment in RED, the provider of SAP contract and permanent staff. The transaction is subject to funding and regulatory approvals and is expected to complete in the second half of 2022.

The investment in RED was valued at £23.7m in the Preliminary Unaudited Net Asset Value at 30/06/22 published on 1 August 2022. Proceeds from the sale are expected to amount to £23.7m, consisting of capital of £19.7m and income of £4.0m. Additionally, there are future potential proceeds from an earn-out arrangement which are dependent upon RED achieving profit targets in the year to 31 March 2023.

Following funding and regulatory approvals being received the Board intends to announce a distribution to shareholders.

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For further information please contact:

Dunedin LLP

Graeme Murray 07813138367