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BRIEF-Electra Private Equity declares 914p/shr special dividend
October 23, 2017 / 6:28 AM / a month ago

BRIEF-Electra Private Equity declares 914p/shr special dividend

Oct 23 (Reuters) - Electra Private Equity Plc:

* ELECTRA PRIVATE - ‍COMPANY HAS COMPLETED HANDOVER OF INVESTMENT PORTFOLIO AND OPERATIONAL RESPONSIBILITIES FROM ITS FORMER EXTERNAL MANAGER​

* ‍RESOURCES REQUIRED TO PURSUE STRATEGY ANNOUNCED TODAY ARE NOW IN PLACE​

* ‍RECURRING ANNUAL MANAGEMENT EXPENSES HAVE BEEN REDUCED FROM APPROXIMATELY £33 MILLION TO APPROXIMATELY £5 MILLION​

* DECLARING A FURTHER SPECIAL DIVIDEND OF £350 MILLION, OR 914P PER SHARE​

* ‍CONSIDERS THAT CURRENT MARKET CONDITIONS DO NOT SUPPORT NEW INVESTMENT​

* ‍SHOULD CONDITIONS CHANGE BOARD WILL CONSIDER FURTHER INVESTMENT​ Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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