Dunedin Enterprise Investment Trust PLC
Preliminary Unaudited Net Asset Value announcement for 30 September 2018
The Board of Dunedin Enterprise Investment Trust PLC is pleased to announce a preliminary unaudited net asset value of 454.3p per share as at 30 September 2018, this compares to a net asset value per share at 30 June 2018 of 447.5p.
The preliminary unaudited net asset value has been calculated using the underlying managers' latest valuations (including those received since 30 September 2018), which remain subject to review by the Board of Directors. Based on those valuations, as at 30 September 2018, the Company's unlisted investments were valued at £70.7m. The Company also held cash of £24.2m and other net current liabilities of £1.1m as at 30 September 2018. Total net assets at 30 September 2018 amounted to £93.8m.
The net asset value per share at 30 September 2018 of 454.3p is stated before the issue and redemption of B Shares undertaken in October 2018.
A third B Share issue was undertaken following the realisation of Pyroguard whereby £10.3m of capital was returned to shareholders. B Shares of 50p each were paid up from capital and issued to all shareholders by way of a bonus issue pro-rata to their holding of Ordinary Shares on the basis of one B Share for every one Ordinary Share held at the record date of 6.00pm on 8 October 2018. The B Shares were issued on 9 October 2018 and immediately redeemed at 50p per B Share. The proceeds from the redemption of the B Shares were sent to shareholders on 23 October 2018.
Following this third B Share issue the unaudited net asset value per share reduced from 454.3p to 404.3p.
The finalised net asset value per share will be published on 16 November 2018.
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