TRC The Revel Collective Plc

TIDMTRC

RNS Number : 8766T

Trinity Capital PLC

18 October 2017

TRINITY CAPITAL PLC

SALE OF INVESTMENT

AUCTION - FURTHER extenSion of deadline

On 27 August 2017, Trinity Capital PLC (the "Company") announced that it is offering for sale at auction its wholly owned subsidiary, Trinity Capital Mauritius Limited ("TCML"). On 22 September 2017, the Company announced that, in order to maximise the proceeds from the sale of the investment, the deadline for receipt of unconditional bids under the auction was extended to 1700 BST on 20 October 2017.

The Company is now pleased to announce that on 17 October 2017, Trinity Capital (Ten) Limited ("TC-10") entered into a sale and purchase agreement with DB Realty Limited in relation to all of the compulsorily convertible preference shares issued by DB (BKC) Realtors Private Limited to TC-10 in which TCML owns the economic interest (the "Transaction"). Under the terms of the Transaction, TC-10 has contracted to receive the equivalent of INR 149.6 million (approximately GBP 1.7 million). Completion of the Transaction is subject to TC-10 obtaining all final regulatory approvals in India.

In order to permit completion of the Transaction, the Company has extended the deadline for receipt of unconditional bids under the auction to 1700 BST on 10 November 2017. If the Transaction completes as envisaged, the auction of TCML will be cancelled.

The Company will make further announcements in due course.

Enquiries:

 
  FIM Capital Limited 
                                 +44 1624 
 Graham Smith                     681250 
 
 Arden Partners 
 Nominated Adviser and Broker 
                                  +44 207 614 
 Chris Hardie                      5900 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 18, 2017 02:00 ET (06:00 GMT)

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