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| TIDM | NAS |
| Share Price | 407.00p-1.45% |
| Market Cap | £508.75m |
North Atlantic Smaller Companies Investment Trust PLC (NASCIT) noted the proposed acquisition of Sureserve Group Plc on April 21, 2023. The offer price, representing a 40p premium to the March 31, 2023 share price, will increase NASCIT's net asset value by £8m (or approximately £10m including Oryx International Growth Fund Limited's holding). Upon completion, the sale will represent a profit of just over £16m and increase NASCIT's cash and cash equivalents from circa £95m at the end of March 2023 to approximately £120m.
| Date | 21 Apr 2023 |
| Time | 09:36:19 |
| Category | Acquisitions and alliances |
| ID | 0539X |
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