Special Dividend

24 March 2017

The Board of Electra Private Equity PLC (“Electra”) is pleased to announce that it is today declaring a special dividend* of £1.0 billion, representing 2,612p per share, to be paid on 5 May 2017 to shareholders on the register of members at the close of business on 7 April 2017.

Estimated pro forma Net Asset Value per share as at 28 February 2017 was 5,327p, after adjusting for realisations announced since 30th September 2016, the tender proceeds and 2016 dividend payments.

The notice of termination of Electra’s outsourced management contract has reduced the number of new investments being made and, with continued realisations, has resulted in the accumulation of significant cash.  Prior to this dividend, pro-forma cash, based on transactions announced but in some cases still to complete is expected to be approximately £1.4bn.

As indicated in the first phase of our strategic review in October 2016, the Board believes that it is best practice to return excess capital to shareholders and will continue to monitor the Company’s capital needs as part of the second phase of the strategic review.  As disclosed previously, the Board intends to begin the second phase of the review in June and looks forward to engaging with its portfolio company management teams as soon as access is granted by Epiris, or on termination of the Epiris management contract on 31st May, and anticipates announcing the findings in the fourth quarter of fiscal 2017.

*The Special Dividend will not fall within the Dividend Reinvestment Plan



For further information:

On behalf of Electra Private Equity PLC
Brunswick Group LLP
020 7404 5959
Gill Ackers/Kim Fletcher
[email protected]

Press enquiries

Brunswick Group LLP
16 Lincoln's Inn Fields
London, WC2A 3ED

t +44 20 7404 5959
[email protected]

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