6 March 2024

Duke Capital Limited

("Duke Capital", "Duke" or the "Company")

Successful Exit of Investment in Fairmed Healthcare AG

Duke Capital Limited (AIM: DUKE), a leading provider of hybrid capital solutions for SME business owners in Europe and North America, is pleased to announce the successful exit of its investment in Fairmed Healthcare AG ("Fairmed"), a Switzerland-based provider of high-quality generic prescription medicines, over-the-counter pharmaceuticals, dermocosmetics and dietary supplements in various EU countries.

Overview

·        Headline cash consideration of €11.4 million, providing Duke with additional liquidity for new deployments into its pipeline of long-established, profitable businesses

·        Payment of €6.0 million has been received with the balance of €5.4 million to be paid by 31 March 2024

·        This represents the seventh exit for Duke, delivering its sixth profitable exit. The exit of Fairmed is at the upper end of the expected rate of return for Duke with no equity participation

·        Duke's financing solution enabled Fairmed's management team to retain its minority equity stake, while receiving the capital to support the expansion of its product portfolio

·        Duke's investment exit was facilitated by Fairmed's majority owner, Strides Pharma Global Pte Ltd, a fully owned subsidiary of Strides Pharma Science Limited ("Strides"). The prepayment of Duke's investment paves the way for Strides to initiate the next phase of its European strategy, utilising Fairmed to expand and strengthen its presence in the region

Neil Johnson, CEO of Duke Capital, said:

"We are proud to have supported Fairmed during a crucial time in the development of its product portfolio. Our capital injection empowered its management team to achieve their strategic objectives without burdening the business with loss of control or refinancing risk, underscoring our commitment to facilitating growth and success for our partners.

"We are pleased to build on our track record of successfully delivering profitable exits and are excited to see Fairmed and Strides deliver on the next phase of their European strategy. We look forward to continuing to deploy capital into other promising opportunities."           

Duke Capital Portfolio

A full list of Duke's current Partners is included for reference on the Partners page of the Company's website: www.dukecapital.com/partners

***ENDS***

For further information, please visit www.dukecapital.com or contact:

About Duke Capital

Duke is a leading provider of hybrid capital solutions for SME business owners in Europe and North America, combining the best features of both equity and debt.

Since 2017, Duke has provided unique long-term financing which eliminates re-financing risk and necessity for a short-term exit by providing a unique 'corporate mortgage' while also aligning its returns to grow with the success of the business.

Duke is focused on generating attractive risk-adjusted returns for shareholders and has a track record of achieving this across market cycles. It's three investment pillars are capital preservation, attractive dividend yield, and to provide upside upon exits.

Duke is listed on the AIM market under the ticker DUKE and is headquartered in Guernsey.