| What deals have you done in the year to 30 September 2011? |  | |
| Where will Electra be investing in 2012? | | |
| How will shareholder value be generated? | | |
| What is the underlying gearing within the portfolio? | | |
| What is the underlying gearing within Electra? | | |
| Does Electra have sufficient liquidity to meet its commitments to funds? | | |
| What credit facilities does Electra have? | | |
| What is the ranking of your various debt instruments? | | |
| How have currency movements affected you? | | |
| Electra has not paid a dividend since March 2008. Will Electra pay dividends in the future? | | |
| Does the Board of Electra still operate a share buyback policy? | | |
| What is Electra’s view of the private equity market for 2012? | | |
| Do you expect to be selling investments this year? | | |
| How will the cash ‘overhang’ affect deal pricing? | | |
| What is a Zero Dividend Preference Share (“ZDP”) and how does it compare with an Ordinary Share? | | |
| Why did you issue ZDP shares? | | |
| What was the placing price of the ZDPs and what is the final capital entitlement? | | |
| What is a Convertible Bond? | | |
| Why did you raise money through Convertible Bonds in December 2010? | | |
| When is interest paid on the Convertible Bond? | | |
| What is Electra’s Corporate Social Responsibility Policy? | | |
| What is your opinion of the new AIFM Directive and how will it affect Electra? | | |
| How does the CRC Energy Efficiency Scheme (“CRC Scheme”) affect Electra? | | |
| How can I buy/sell my shares in Electra? | | |
| I am a current/potential investor resident in either the United States, Australia, Canada, New Zealand or Japan – can you send me information or documentation regarding Electra? | | |
| I have changed my address – how do I notify the Registrar? | | |
FAQ
What deals have you done in the year to 30 September 2011?
In the year to 30 September 2011, 148 new investment opportunities were considered and £136 million was invested. This included:- £17 million in respect of Daler-Rowney
- £36 million in respect of Sentinel (reduced to £16 million following the securing of bank finance)
- £36 million in Davies Group
- €24 million in Steadfast Capital’s second fund (plus €2m commitment)
Realisations totalled £137 million for the year, including:
- £54 million in respect of Rio Trens Corporation
- £11 million in respect of the redemption of the Baxi Mezzanine debt
- £12 million in respect of the sale of two companies in Electra’s portfolio of secondary holdings
- £13 million received from other private equity funds
- £20 million from the medium-term banking finance by Sentinel
Shortly after the year end, Electra made two further substantial realisations:
- £39 million in respect of BDR Thermea (an additional approximate £40 million is due to be received over next two years)
- £39 million in respect of SAV Credit (£2 million was during the year to 30 September 2011)