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Q3 Preliminary NAV and Tender Offer Price

RNS Number : 8114Q

Dunedin Enterprise Inv Trust PLC

01 November 2021

Dunedin Enterprise Investment Trust PLC

LEI: 213800E2VLUZ5AF9Z434

Date: 1 November 2021

Time: 07.00am

Preliminary Unaudited Net Asset Value announcement for 30 September 2021

Announcement of Tender Price

The Board of Dunedin Enterprise Investment Trust PLC is pleased to announce a preliminary unaudited net asset value of 546.2p per share as at 30 September 2021 (496.5p at 30 June 2021).

The preliminary unaudited net asset value has been calculated using the underlying managers' latest valuations (including those received since 30 September 2021), which remain subject to review by the Board of Directors.

Based on those valuations, as at 30 September 2021, the Company's unlisted investments were valued at £59.2m. The Company also held cash balances of £41.2m and net current liabilities of £1.5m making a total net assets position of £98.9m. The Company is due to pay an interim dividend of 16p per share on 18 November 2021.

The finalised net asset value per share will be published around 19 November 2021.

The Company sent shareholders a circular on 18 October 2021 (the "Circular") in relation to a proposed return of up to £26m to shareholders by way of a Tender Offer. In accordance with the terms of the Tender Offer, the Tender Price and the Basic Entitlement of shareholders under the Tender Offer has been calculated on the basis of the 30 September 2021 net asset value, ex-dividend, and are as follows:

· Tender Price - 523.8376p per share

· Basic Entitlement - 27.42 per cent.

The maximum number of shares that will be repurchased under the Tender Offer is 4,963,370 shares. The Tender Offer is conditional on the passing of the requisite resolution at the General Meeting to be held on 10 November 2021.

This announcement contains inside information for the purposes of article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is being disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon publication of this announcement, this inside information is now considered to be in the public domain.

Capitalised terms used in this announcement have the meanings given to them in the Circular.

For further information, please contact:

Dunedin LLP

Company Secretary

Email: [email protected]

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