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Last checked at 
2 Mar 2009 11:30
Portfolio Update
Dunedin Enterprise Investment Trust PLC ("Dunedin Enterprise")
We are pleased to announce that Dunedin Enterprise's investment in Fernau Limited ("Fernau") was realised in a sale of the business to Moog Controls Limited, a subsidiary of Moog Inc. of the USA.
Dunedin Enterprise invested £2.55m in the £16m buyout of Fernau Avionics in June 2007 and has realised £7.2m on exit, an uplift of £3.3m from the valuation at 31 December 2008. This represents an uplift in net assets of 11.1p per share. In total Dunedin Enterprise has received income and capital of £7.7m from the investment, a multiple of over three times the initial investment.
Fernau is a world-leading designer and manufacturer of Navigational Aids to the civil and military aviation markets in the UK, Europe, North America and the Far East. In addition to the design and manufacture of Navigational Aids, Fernau provides associated services including site survey, installation, system commissioning, training, spares and repairs, and logistics support.
For further information contact Brian Scouler on 0131 718 2306 or 07811 262 796
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