Completion of Portfolio Sale

10 Jan 2008 07:01

Trikona Trinity Capital PLC10 January 2008 10 January 2008 Trikona Trinity Capital PLC ('Trikona TC' or 'the Company') Completion of Portfolio Sale Trikona Trinity Capital Plc (AIM: TRC), a fund created for investing in Indianreal estate and infrastructure and managed by Trikona Capital Limited, announcedon 20 November 2007 that Trikona TC had divested part of its equity shareholdings in four of its off-shore entities for an aggregate sale price of £32.1million. The Company is now pleased to confirm that the transaction officiallyclosed on 27 December and proceeds have been received. The sale proceedsrepresent a 108 per cent uplift over the invested cost and support the Company'spreviously stated Net Asset Value ("NAV") of 144p per share. Aashish Kalra, Managing Director of Trikona Capital Limited said: "We aredelighted to officially conclude this milestone agreement which makes Trikona TCthe first fund of its kind to make money from Indian real estate. Thisdivestment establishes the Company as a fund that gives investors real andvisible upside to the real estate market in India. We will be reinvesting theproceeds of this deal in line with our commitment to delivering solid growth andsignificant shareholder value in 2008." - ENDS - Enquiries: Trikona Trinity Capital PLC managed by Trikona Capital LimitedAashish Kalra, Managing Director +91 11 46596 000Ashesh C. Shah, Head of UK and Global Head +44 207 870 3454of Corporate Development Bell Pottinger Corporate & Financial +44 20 7861 3232Nick LambertAmy Rajendran Gutenberg CommunicationsMichael Sherrill (New York) +1 212-239-8741Pranav Kumar (New Delhi) +91 98100 77898 Numis Securities +44 20 72601000Jag MundiCharles Farquhar This information is provided by RNS The company news service from the London Stock Exchange