10 Nov 2009 14:37
Trikona Trinity Capital PLC
(the "Company")
Statement re Investment Holding in Phoenix Mills
Trikona Trinity Capital plc (AIM:TRC) announces the sale of its investment in Phoenix Mills Limited ('PML').
On 9 November 2009, the Company sold its entire holding of 1,850,000 shares in PML into the market at INR170 per share, for settlement on 12 November 2009, giving a total net consideration of USD 6,637,000, equivalent to approximately GBP 3.9 million.
The Company acquired the shares in June 2007 for GBP 7.3 million and has therefore realised a loss of approximately GBP 3.4 million. According to the latest Annual Report and Accounts as at 31 March 2009, the carrying value of the investment in PML was GBP 1.7 million.
Further information, please contact:
IOMA Fund and Investment Management Limited
Philip Scales, Director +44 1624 681250
Evolution Securities
Bobbie Hilliam, Corporate Finance
Chris Sim, Corporate Broking +44 207 071 4300
Arden Partners plc
Chris Hardie, Corporate Finance +44 207 398 1600
Trinity Capital (TRC)