SUPP.L Regulatory News (SUPP)

Schroder UK Public Private Trust plc

Asset Sale

Schroder UK Public Private Trust plc (the "Company") notes that Seedrs has entered into an agreement to be acquired by Republic, the U.S. based private investment platform, for approximately $100 million in a mix of shares, cash and carried interest1 (the "Republic Acquisition").

The Republic Acquisition is subject to the consent of the Financial Conduct Authority ("FCA") and shareholders of Seedrs, and is expected to be completed in early 2022.

The Company is pleased to announce that it has reached an agreement for the sale of its holding in Seedrs Limited ("Seedrs") to a global institutional investment management firm, for £12 million in cash ("Asset Sale"). The consideration is payable on completion, which is subject to consent of the FCA. The Asset Sale is expected to complete in early 2022, in advance of the Republic Acquisition.

The Asset Sale is not conditional on the Republic Acquisition, and provides a full exit from the Company's position for cash while also expediting the receipt of the proceeds for reinvestment in new opportunities. The Company intends to use the net proceeds of the Asset Sale to accelerate its portfolio rebalancing with new investments into both public and private companies.

On the basis of the terms of the Asset Sale, the Company's AIFM has increased the valuation of the holding in Seedrs by 29.7% from £9.1 million as at 30 June 2021 to £11.8 million as at 30 September 2021.

1 This part of the consideration is related to the "carry" fee" that Seedrs earns when investors sell the securities previously purchased through Seedrs at a profit which will be carved out of the transaction and paid to existing Seedrs shareholders and optionholders as it crystallizes in the future. 

Enquiries:

Schroder Investment Management Limited