Trinity Capital says that its subsidiary, Trinity Capital Mauritius Limited, completed the realisation of its investments in Trinity Capital (One) Limited and Trinity Capital (Five) Limited on 15 November 2016. Disposal proceeds of GBP8.7 million were received by Trinity Capital Mauritius Limited.
The only remaining investment is Trinity Capital (Ten) Limited, held together with Immobilien Development Indien I GmbH & Co. KG and Immobilien Development Indien II GmbH & Co. KG. The Immobilien Funds have provided a formal commitment to permit and facilitate Trinity Capital (Ten) to distribute to Trinity Capital Mauritius Limited the proceeds from a future sale of its indirect interests held in DB (BKC) Realtors Private Limited (formerly MK Malls & Developers Private Limited).
The Immobilien Funds and Trinity Capital Mauritius Limited will now proceed and co-operate to discontinue all pending legal proceedings in Mauritius.
At 31 March 2016, the Company’s holdings in Trinity Capital (One) and Trinity Capital (Five) were valued at an aggregate of GBP8.3 million.
The Board intends to announce in due course a further distribution to shareholders and to commence consultations on the future of the Company.
TRC : Trinity Capital completes disposals