25 Jul 2017

Disposal of Standard Brands

Disposal of Standard Brands

ICG Enterprise Trust plc (“the Company”) announces the sale of its investment in Standard Brands (UK) Limited (“Standard Brands”), a manufacturer of domestic fire lighting products including Zip, the leading brand in the UK and Ireland. Standard Brands was the Company’s fifth largest underlying investment at 30 April 2017.

The sale to SHS Group is subject to Irish Competition Authority approval. It is expected that the Company will  receive cash proceeds of approximately £15.8 million during the quarter to 31 October 2017. Taken in isolation, the disposal is anticipated to increase the Company’s net asset value per share by 5.9p to 881.9p, equating to a 0.7% increase compared with the value at 30 April 2017.

Having initially supported the management buyout of Standard Brands in 2001, half of the Company’s interest was acquired in 2014 by way of a secondary transaction. At completion, the transaction is expected to represent a return of 3.8 times the cost of the 2014 investment and an overall return of 1.5 times the total cost at an uplift of 35% to the carrying value at 30 April 2017.

Share price (ICGT)

1,080p
12.00P (1.12%)
9:21AM 15 May 2021
The share price information is delayed by at least 15 minutes

Net Asset Value

1,384p
As of 31 January 2021
Next update: Q1 results, June 2021
Year Net assets NAV per share Share price Dividends per share
Jan 2020 £794m 1,152p 966p 23p
Jan 2019 £731m 1,057p 822p 22p
Jan 2018 £664m 959p 818p 21p
Jan 2017 £613m 871p 698p 20p
Jan 2016 £521m 731p 545p 11p
Jan 2015 £507m 695p 575p 15.5p
Jan 2014 £494m 677p 563p 15.5p
Jan 2013 £460m 631p 487p 5p
Jan 2012 £415m 569p 357p 5p
Jan 2011 £389m 534p 308p 2.25p
Dec 2009 £338m 464p 305p 2.25p
Dec 2008 £327m 449p 187p 4.5p