Between 1 April 1999 and 30 September 2007 Electra sold investments realising a total of
£2.4 billion, made further investments of £1.0 billion and returned a total of £1.2 billion in cash to shareholders via tender offers and on-market share buy-backs.
Following approval by shareholders at an EGM held in October 2006, Electra’s objective is to target a rate of return on equity of between 10 – 15% per annum over the long-term by investing in a portfolio of private equity assets.
Electra Partners, on behalf of Electra, will aim to achieve this target rate of return by:
- exploiting a track record of successful private equity investment;
- utilising the proven skills of its senior management team with a strong record of dealflow generation and long-term presence in the private equity market;
- investing in a number of value creating transactions with a balanced risk profile across a broad range of investment sectors through a variety of financial instruments;
- actively managing its total capital position and levels of gearing in light of prevailing economic conditions. Total bank borrowings by Electra will always be less than 40% of its total assets.
Additionally, an on-market share buyback programme will be managed to generate shareholder value.