18 Oct 2017 07:00
TRINITY CAPITAL PLC
SALE OF INVESTMENT
AUCTION - FURTHER extenSion of deadline
On 27 August 2017, Trinity Capital PLC (the "Company") announced that it is offering for sale at auction its wholly owned subsidiary, Trinity Capital Mauritius Limited ("TCML"). On 22 September 2017, the Company announced that, in order to maximise the proceeds from the sale of the investment, the deadline for receipt of unconditional bids under the auction was extended to 1700 BST on 20 October 2017.
The Company is now pleased to announce that on 17 October 2017, Trinity Capital (Ten) Limited ("TC-10") entered into a sale and purchase agreement with DB Realty Limited in relation to all of the compulsorily convertible preference shares issued by DB (BKC) Realtors Private Limited to TC-10 in which TCML owns the economic interest (the "Transaction"). Under the terms of the Transaction, TC-10 has contracted to receive the equivalent of INR 149.6 million (approximately GBP 1.7 million). Completion of the Transaction is subject to TC-10 obtaining all final regulatory approvals in India.
In order to permit completion of the Transaction, the Company has extended the deadline for receipt of unconditional bids under the auction to 1700 BST on 10 November 2017. If the Transaction completes as envisaged, the auction of TCML will be cancelled.
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 |