25 Aug 2017 10:50
TRINITY CAPITAL PLC
auction OF investment
Trinity Capital PLC (the "Company") will offer at auction its interest in a planned mixed-use development (formerly known as "MK Malls") in Bandra Kurla Complex, a prime business district in Mumbai, India. Bidders who participate in the auction will offer to purchase the Company's Mauritian subsidiary, Trinity Capital Mauritius Limited ("TCML"). TCML's only remaining investment in India is its ownership of a minority interest (together with relevant legal protections), in Trinity Capital (Ten) Limited ("TC-10"). TCML is entitled to receive all cash flows from TC-10's holding of a class of preference shares issued by the project development company, DB (BKC) Realtors Private Limited.
The Company will offer its interest in TCML in a "sealed envelope" auction with unconditional bids to be received no later than 23 September 2017. Further information is available from the Company's website, http://www.trinitycapitalplc.com/, the Company's Administrator, FIM Capital Limited, on enquiries@fim.co.im, or the persons named below.
Following completion of the sale of TCML, the Board expects to:
· publish the Company's annual report for the financial year ended 31 March 2017;
· effect a further distribution to shareholders; and
· convene a shareholder meeting seeking approval to delist the Company's shares from trading on AIM and to appoint a liquidator of the Company.
The Board currently expects to complete these steps before the end of 2017.
The Company will make further announcements in due course.
Enquiries:
FIM Capital Limited |
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Graham Smith | +44 1624 681250 |
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Arden Partners |
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Nominated Adviser and Broker |
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Chris Hardie | +44 207 614 5900 |