StockMarketWire.com - Hg, the manager of HgCapital Trust, has detailed plans for trust to invest about £31.6m in Argus Media, a provider of energy and commodity price reporting.
The investment, subject to regulatory approval, would reduce the company's outstanding commitments to invest in Hg transactions over the next two years to approximately £310m, Hg said.
Hg would become a joint shareholder in Argus, alongside Adrian Binks, chief executive and chairman, General Atlantic and the management team.
Based on the 31 August 2019 net asset value, the company's liquid resources available for future deployment, including all announced transactions and the dividend to be paid on 25 October 2019, were estimated to be £134m.
The company also had access to an £80m standby facility, which was currently undrawn. At 10:01am: [LON:HGT] HG Capital Trust PLC share price was -0.75p at 226.25p
Story provided by StockMarketWire.com
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