Artemis Alpha sells Metapack – Artemis Alpha Trust has drawn investors’ attention to an announcement from Stamps.com which has entered into a definitive agreement to acquire the total shares outstanding of Metapack Ltd., an unlisted equity representing 3.1% of the NAV, for cash.
The agreed sale price represents a 24.8% uplift to current carrying value. Total proceeds of GBP6.5m represent a 5.4x return on the investment. The positive impact on the NAV will be 0.8% with adjustment taking place upon the transaction becoming wholly unconditional, expected to be between the 15th and 28th of August.
Artemis Alpha has also disclosed that the sale of its unlisted holding in Oxford Sciences Innovation was completed earlier in the month at carrying value, representing 1.3% of NAV. Following the completion of the sale of Metapack, the pro-forma exposure to unlisted equities will be 12.1% of the fund.
About Metapack
MetaPack describes itself as “the leading provider of eCommerce delivery management technology to enterprise retailers and brands“.
“Our platform integrates 400 carriers and 4,000 delivery services such as Next Day, Click and Collect, Locker Boxes and International Delivery – ensuring that retailers and brands can offer delivery options and convenience for their customers.
For each and every order, MetaPack is able to identify the most appropriate delivery service for that particular customer, providing a seamless and personalised delivery experience, whilst removing manual and time consuming processes in the retailer’s warehouse.
MetaPack’s delivery management platform enables retailers and brands worldwide to strengthen their delivery proposition, generate customer loyalty and website conversion, ensuring every customer has the best delivery experience.”
ATS : Artemis Alpha sells Metapack