Trinity Capital has signed an agreement with Immobilien Development Indien I GmbH & Co. KG and Immobilien Development Indien II GmbH & Co. KG, which, if and when fully implemented, should facilitate the realisation of all of the company’s remaining investments held jointly with the Immobilien Funds.
Under the terms of the agreement, the Company will, subject to fulfilment of various conditions precedent, dispose of its investments in Trinity Capital (One) Limited (“TC-1”) and Trinity Capital (Five) Limited (“TC-5”) held by its wholly owned subsidiary Trinity Capital Mauritius Limited (“TCML”) in return for a payment of INR720,000,000 (currently equivalent to approximately £8.8 million).
The Immobilien Funds will also permit and facilitate Trinity Capital (Ten) Limited (“TC-10”) to distribute to TCML the proceeds from a future sale of the indirect interests held in DB (BKC) Realtors Private Limited (formerly MK Malls & Developers Private Limited). As part of the agreement the parties will discontinue pending legal proceedings.
The agreement requires that the disposals of TC-1 and TC-5 be concluded within eight weeks, failing which it will terminate.
The Company will make a further announcement to Shareholders as and when it has further clarity regarding the completion of the disposals of assets.
At 9:21am: (LON:TRC) Trinity Capital PLC share price was +2.38p at 4.13p
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