17 May 2013 07:00
Sherborne Investors (Guernsey) B Limited
17 May 2013
Sherborne Investors (Guernsey) B Limited
Interim Management Statement
This interim management statement has been produced in accordance with, and solely to comply with, the UK Listing Authority's Disclosure and Transparency Rule 4.3. It should not be relied upon by any person for any other purpose.
Sherborne Investors (Guernsey) B Limited (the "Company") is today updating the market on its financial position as at 31 March 2013 (the latest practicable date prior to the date of this statement to which management accounts for the Company have been drawn up) and other material events and transactions that have taken place since that date up to the date of this statement.
Selected Consolidated Financial Information at 31 March 2013 (unaudited)
Cash and cash equivalents £91,479,096
Cost basis of investments(1) £111,894,635
Fair value of investments(2) £136,448,288
Unaudited Net Asset Value £225,485,550
Shares outstanding 207,000,000
Unaudited Net Asset Value per share 108.93p
Subsequent Events
As disclosed in the Company's announcement on 3 May 2013, the Company was notified by Sherborne Investors Management (Guernsey) LLC, the Investment Manager, that SIGB, LP's shareholding in 3i Group plc ("3i"), the current Selected Target Company, totalled 47,515,366 shares, or approximately 4.89 per cent. of 3i's outstanding shares, as at 2 May 2013.
On 7 May 2013 trading in the Company's shares on AIM was cancelled and the Company's shares were simultaneously admitted to trading on the Specialist Fund Market of the London Stock Exchange.
Notes
(1) Represents the total net cash consideration, excluding commissions but giving effect to reinvestment of profits from share sales and related derivative transactions.
(2) Represents 43,179,838 shares of 3i at a price of 316.00p per share and related derivative instruments.
-Ends-
Enquiries:
FTI Consulting +44 (0)20 7269 7157
Billy Clegg
Jefferies International Limited (Broker) +44 (0)20 7029 8000
Gary Gould
Lee Morton
Graham Hertrich
Sherborne Investors (Guernsey) B Limited +44 (0)14 8171 3843
Talmai Morgan (Chairman)
John Ellman-Brown (Administrator)