Dunedin Enterprise Investment Trust PLC has realised its investment in Steeper Holdings Limited the UK’s leading supplier of rehabilitation services including prosthetic, orthotic and electronic assistive devices and services.
Capital and accrued interest in Steeper was valued at GBP3.9m as at 30 September 2016, the last published valuation. Total initial proceeds from the sale amounted to GBP8.9m (an uplift of GBP5.0m, or 24.4p per share), consisting of capital of GBP6.7m and income of GBP2.2m. In addition, proceeds amounting to GBP1.0m are subject to an earn out over the next 18 months.
The Board is not proposing to return any of the capital proceeds to shareholders due to the level of outstanding undrawn commitments at the current time. The income receipts will be paid out to shareholders via a dividend in due course
DNE : Dunedin Enterprise sells Steeper
