Elephant Capital has announced results for the year ended 31 August 2014. These are somewhat academic now but for the record the NAV then was 35p – up 2p from the previous August. The new news is that Elephant Capital will return £1m to shareholders via a buy-back programme starting on 9 March 2015.
Elephant Capital now holds only five investments; one listed Nitco, and four unlisted, Air Works, ACK, GCV and Obopay, the last of which has no value. They have been selling tile retailer, Nitco, but slowly as they say it is deeply out of favour.
ECAP : Elephant planning £1m buy-back