8 Oct 2010 10:36
Trinity Capital PLC (the "Company")
Investment Update
Following the announcement made on 9 July 2010, Trinity Capital PLC (AIM: TRC) confirms that the lock up relating to its remaining 27.2 million shareholding in Pipavav Shipyard Limited ("Pipavav") held by one of the Company's wholly-owned Mauritian subsidiaries was lifted such that the shares were eligible for trade on 4 October 2010.
On 7 October 2010, the Mauritian subsidiary placed 7.2 million shares as a block trade through its brokers at an average price of INR80.5 per share. The estimated sales proceeds, after transaction costs, are estimated to amount to approximately GBP 8.1 million at current exchange rates.
The Mauritian subsidiary continues to hold a balance of 20 million shares in Pipavav.
8 October 2010
Enquiries:
MHP Communications
Tim McCall / James White
+44 20 3128 8100
IOMA Fund and Investment Management Limited
Philip Scales, Director
+44 1624 681250
Evolution Securities, Nominated Adviser and Joint Broker
Bobbie Hilliam / Chris Clarke, Corporate Finance
+44 207 071 4300
Arden Partners plc, Joint Broker
Chris Hardie, Corporate Finance
+44 207 614 5917