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20 Apr 2010 16:00
Trikona Trinity Capital PLC
(the "Company")
Investment Update
Trikona Trinity Capital Plc (AIM:TRC), today announces the sale of part of its investment in Indian healthcare company, Fortis Healthcare Limited ('Fortis').
On 19 April 2010, the Company sold 5,053,097 shares in Fortis at an average price of INR 160.05 per share, for settlement on 22 April 2010, giving a total net consideration, after accounting for transaction costs, of approximately GBP 11.1 million. The closing price of the Fortis shares on 19 April, 2010 was INR 160.80 per share.
The Company acquired 8 million shares during January and February 2007 for GBP 13.5 million and has therefore realised a pro rata profit on this sale of approximately GBP 2.6 million.
In the Company's latest Interim Results, as at 30 September 2009, the carrying value of the investment in Fortis was GBP 11.6 million.
Enquiries:
Hogarth
Tim McCall / Julian Walker / James White +44 207 357 9477
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
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