Trinity Capital said subsidiary Trinity Capital Mauritius Ltd completed the realisation of its investments in Trinity Capital (One) Ltd and Trinity Capital (Five) Ltd for proceeds of £8.7m.
The only remaining investment is Trinity Capital (Ten) Ltd, held together with Immobilien Development Indien I GmbH & Co. KG and Immobilien Development Indien II GmbH & Co. KG (together, Immobilien Funds).
The Immobilien Funds have provided a formal commitment to permit and facilitate TC-10 to distribute to TCML the proceeds from a future sale of its indirect interests held in DB (BKC) Realtors Private Limited (formerly MK Malls & Developers Private Limited).
The Immobilien Funds and TCML will now proceed and co-operate to discontinue all pending legal proceedings in Mauritius.
At 31 March 2016, the Company’s holdings in TC-1 and TC-5 were valued at an aggregate of £8.3 million. The Company’s sole remaining investment is TCML’s holding in TC-10.
The Board intends to announce in due course a further distribution to shareholders and to commence consultations on the future of the Company.
At 9:31am: (LON:TRC) Trinity Capital PLC share price was +0.75p at 4.5p
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