Oakley Regulatory News (OCI)

25 Jan 2010 07:00



25 January 2010

Oakley Capital Investments Limited 

Trading Update for the 12 months ended 31 December 2009

Unaudited net asset value ("NAV") per share in the range of £1.37- £1.42 as at 31 December 2009:

Ahead of analyst consensus

An increase of over 40% in NAV per share since launch in July 2007

An increase of over 26% in NAV per share from year ended 31 December 2008

Oakley Capital Investments Limited (AIM:OCL, OCIL, the "Company"), the AIM-listed company established to provide investors with access to the investment strategy being pursued by Oakley Capital Private Equity L.P. (the "Limited Partnership" or the "LP"), today announces a trading update for the 12 months ended 31 December 2009. 

The Limited Partnership's portfolio of investments includes Host Europe Corporation Limited, Daisy Group plc, Verivox Holdings Limited, Headland Media Limited and Monument Securities Limited. Oakley Capital Limited, OCIL's investment adviser, estimates that the Company's net asset value, which is subject to the completion of the 31 December 2009 audit of the LP and the Company, will be in the range of £175m to £182m, or £1.37 - £1.42 per share (based on 128.1 million participating shares in issue), made up of cash, investment in the Limited Partnership, and mezzanine loans.

Peter Dubens, OCIL Director commented: 

"OCIL and the LP have been very active in 2009. The LP has acquired 51% of Verivox, one of Europe's largest independent online consumer price comparison businesses, as well as completing two add-on acquisitions during the year within the LP's existing portfolio companies. The LP also reversed Vialtus, one of Host Europe's divisions, for a consideration of £42m in cash and equity, into what is now Daisy Group plc, to help drive an exciting consolidation opportunity in the UK telecoms sector.

"The LP's portfolio has extremely low leverage and we are very pleased with its performance. We look forward to 2010 and the opportunities that the currently challenging economic environment will provide."

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