21 Apr 2010 17:15
Trikona Trinity Capital PLC
(the "Company")
Investment Update
Trikona Trinity Capital Plc (AIM:TRC) announces the sale of its remaining investment in Fortis Healthcare Limited ('Fortis').
On 20 April and 21 April 2010, the Company sold 2,946,903 shares in Fortis at an average price of INR 160.18 per share, for settlement on 23 April and 26 April 2010, giving a total net consideration, after accounting for transaction costs, of approximately GBP 6.5 million.
These transactions follow the Company's sale of 5,053,097 shares in Fortis at an average price of INR 160.05 - announced on 20 April 2010. The Company no longer holds shares in Fortis.
The Company acquired its holding in Fortis in January / February 2007 for GBP13.5 million and has therefore realised a profit on its investment of approximately GBP 1.6 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