BCAP Better Capital Pcc Limited

TIDMBC12 TIDMBCAP

RNS Number : 1124E

Better Capital PCC Limited

02 July 2019

2 July 2019

Better Capital PCC Limited 2012 Cell

Distribution of Capital

Further to Better Capital PCC Limited's (the "Company") announcement on 1 April 2019 regarding the sale by Spicers-OfficeTeam ("SPOT") of two of its subsidiaries, the General Partner (the "GP") of BECAP12 Fund LP (the "2012 Fund") has advised that SPOT has made a repayment of GBP3.0 million to the 2012 Fund. The GP of the 2012 Fund has, in turn, authorised a payment to the Company's 2012 Cell from the proceeds of the sale.

Having considered the working capital requirements of the 2012 Cell, the directors of the Company today announce a fifth distribution of capital of 1.0 pence per ordinary share to the 2012 Shareholders. In line with the previous distributions, this distribution of GBP2.9 million will be treated by the Company as a reduction of share capital paid out of monies attributed to the "share capital account".

The five capital distributions (reductions of share capital) announced to date for the 2012 Cell total GBP99.6 million or 28.0 per cent. of funds raised.

Details of the distribution timetable are as follows:

 
                           11 July 2019 
       *    Ex-date         12 July 2019 
                            19 July 2019 
 
        *    Record date 
 
 
        *    Pay date 
 

For further information, please contact:

 
 Better Capital PCC Limited 
  Norman Amey (Administrator and Company 
  Secretary)                                +44 (0)1481 742 742 
 Numis Securities Limited 
  Nathan Brown                              +44 (0)20 7260 1000 
 

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END

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July 02, 2019 02:01 ET (06:01 GMT)

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