Trinity Capital notes disposal of assets

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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