21 Apr 2023 09:36
RNS Number : 0539X
North Atlantic Smlr Co Inv Tst PLC
21 April 2023
NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC
Sureserve Group Plc
The directors are pleased to note the proposed acquisition of Sureserve Group Plc. The offer price represents a 40p premium to the 31st March 2023 share price which will increase NASCIT's net asset value by £8m (and approximately £10m including NASCIT's pro rata share of Oryx International Growth Fund Limited's own holding of Sureserve Group Plc shares). On completion the sale will represent a profit of just over £16m since purchase.
At the end of March 2023 NASCIT's cash and cash equivalents balances amounted to circa £95m and the sale on completion will increase this to approximately £120m.
Enquiries:
Christopher Mills and Christopher Hart
020 7640 3200
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North Atl.smlr (NAS)