DNE Dunedin Enterprise Investment Trust Plc

29 November 2024

Dunedin Enterprise Investment Trust PLC

Legal Entity Identifier: 213800E2VLUZ5AF9Z434

Realisation of EV Holdings Limited ("EV") and update on winding-up proposals

Dunedin Enterprise Investment Trust PLC ("DENT" or the "Company") is pleased to announce that regulatory approval has now been granted for the realisation of EV, a provider of high-performance video cameras and quantitative visual analytics to the global energy industry. The investment in EV is held via DENT's interest in Dunedin Buyout Fund III LP.

As at 30 September 2024 the Company's investment in EV was valued at £2.6m. Proceeds received from the transaction amount to £2.7m, consisting entirely of capital.

Following this realisation, the Company has remaining unlisted investments valued at £5.9m, cash balances of £26.8m and other net assets of £0.5m.  As previously noted, the Company also has outstanding capital commitments to limited partnership funds of £6.9m.

Pursuant to its managed wind-down strategy, the Company's investment objective is to conduct an orderly realisation of its assets in a manner that seeks to achieve a balance between maximising the value of the Company's investments and progressively returning cash to shareholders. The Board and its advisers intend recommending to shareholders a members' voluntary liquidation of the Company.  Any such winding-up will require shareholder approval and the Company intends to publish a circular to convene a general meeting shortly. A further announcement will be made imminently. 

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Important Information

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended ("UK MAR") and is disclosed in accordance with the Company's obligations under UK MAR. Upon the publication of this announcement, this inside information will be considered to be in the public domain.