Investment Update
RNS Number : 2539T
BMO Private Equity Trust PLC
24 March 2021
 

To:                          RNS

From:                    BMO Private Equity Trust PLC

Date:                     24 March 2021

 

 

Investment Update

 

BMO Private Equity Trust PLC announces that the software company Dotmatics, in which the Company has a holding, has entered an agreement for its sale to US based company Insightful Science. The transaction is expected to complete early in Q2.

 

The investment is led by Scotland based growth equity investor Scottish Equity Partners (SEP) and the company is also held in SEP Fund V. Taking both the co-investment and the holding through the fund together, the transaction values BMO Private Equity Trust's position at £37.7 million or 51 pence per share. This compares with the last published valuation (as at 30 September 2020) of £9.5 million or 13 pence per share.

 

There is a small rollover into the new combined entity of 12% of the value with the remaining 88% of the value being paid in cash.

 

The Company expects to release its preliminary results for the year ended 31 December 2020 shortly.

 

 

Legal Entity Identifier: 2138009FW98WZFCGRN66

 

For further information please contact:

 

Hamish Mair (Investment Manager)

0131 718 1184

Scott McEllen (Company Secretary)

0131 718 1137

[email protected]  / [email protected]

 

 

This announcement is released by BMO Private Equity Trust PLC and qualified as 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 ("MAR").

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCDZGZFLFNGMZM