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29 Mar 2010 07:00
TRIKONA TRINITY CAPITAL PLC
(the "Company")
INVESTMENT UPDATE
Trikona Trinity Capital PLC (AIM:TRC) announces an update with respect to its investment in IL&FS Transportation Networks Limited ("ITNL").
On 30 March 2010, the shares of ITNL are expected to list on both the National Stock Exchange and the Bombay Stock Exchange in India. In conjunction with the listing, the Company offered for sale its entire holding of 4.28 million shares in ITNL, representing 2.5% of the share capital of ITNL prior to the listing.
The sale was fixed at a subscription price of INR 258 per share, which will generate proceeds of approximately GBP15.4 million for the Company, net of costs at the current exchange rate. The sale proceeds will be remitted out of India after all regulatory and taxation permissions have been obtained.
The Company acquired the ITNL shares in October 2006 at a price of INR101 per share at a total cost of GBP5.1 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 5900
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