TIDMICGT 
 
   ICG Enterprise Trust plc 
 
   8 February 2021 
 
   Portfolio Update 
 
   Realisation of Telos generates estimated 29.5p per share uplift in NAV 
 
   ICG Enterprise Trust ("ICGT") is pleased to announce that it has 
realised its holding in Telos Corporation ("Telos"), generating net cash 
proceeds to ICGT of c. GBP40m. 
 
   ICGT estimates that the uplift from this realisation relative to ICGT's 
net asset value at 31 October 2020 is c. 2.4%, or 29.5p per share. 
 
   At ICGT's Q3 results for the period ended 31 October 2020 (announced on 
4 February 2021), Telos was ICGT's 4th largest underlying investment and 
represented c. 2.9% of ICGT's Portfolio Value.  The investment was 
realised at a c. 33x multiple of initial cost. 
 
   Oliver Gardey, Head of Private Equity Fund Investments at ICG, 
commented: 
 
   "Since the IPO of Telos in November 2020 we have been actively 
considering options to maximise the risk-adjusted return to our 
shareholders. 
 
   "This transaction crystallises a significant value uplift and provides 
ICG Enterprise Trust with substantial additional liquidity to take 
advantage of our growing pipeline of investment opportunities." 
 
   Enquiries 
 
   Analyst / Investor enquiries:                                                                                              +44 (0) 20 3545 2000 
 
 
   Oliver Gardey, Head of Private Equity Fund Investments, ICG 
 
   Colm Walsh, Managing Director, ICG 
 
 
   James Caddy, Investor Relations, ICG 
 
 
   Media: 
 
   Fiona Laffan, Global Head of Corporate Affairs, ICG 
+44 (0) 20 3545 1510 
 
   Ed Gascoigne Pees, Eddie Livingstone-Learmonth, Camarco 
+44 (0) 20 3757 4993 
 
   Disclaimer 
 
   This report may contain forward looking statements. These statements 
have been made by the Directors in good faith based on the information 
available to them up to the time of their approval of this report and 
should be treated with caution due to the inherent uncertainties, 
including both economic and business risk factors, underlying such 
forward-looking information. These written materials are not an offer of 
securities for sale in the United States. Securities may not be offered 
or sold in the United States absent registration under the US Securities 
Act of 1933, as amended, or an exemption therefrom. The issuer has not 
and does not intend to register any securities under the US Securities 
Act of 1933, as amended, and does not intend to offer any securities to 
the public in the United States. No money, securities or other 
consideration from any person inside the United States is being 
solicited and, if sent in response to the information contained in these 
written materials, will not be accepted. 
 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

February 08, 2021 09:00 ET (14:00 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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