14 Jul 2014 15:19
14 July 2014
EIH plc ("EIH" or the "Company")
Return of Capital
The Board of Directors of EIH is pleased to announce that following the sale of Gland Pharma Limited ("Gland") and the receipt of distributions amounting to US$17.5m from EIF-Coinvest X and EIF, the board has resolved to make a capital distribution of US$0.26 per share, equivalent to approximately US$16.8m, to shareholders (the "Distribution").
It is intended that the Distribution will be paid on 1 August 2014 to shareholders recorded on the register at the close of business on 25 July 2014. The shares will be marked ex on 23 July 2014.
After the distribution EIH will hold cash balances of ca. US$1.1m On a "look through" basis EIH retains an approximately US$1.9m interest in EILSF Co-invest I (held though EIF-Coinvest X and EIF) representing its share of the Gland proceeds retained to address any potential contingencies.
For further information, please contact:
EIH plc
Rhys Davies
Tel: +41 (0)796200215
Nplus 1 Singer Advisory LLP
James Maxwell / Nick Donovan
+44 (0)207 496 3060