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Electra Private Equity

LN: ELTA

Market Cap£222.2m

Last Close 570p

Electra Private Equity’s investment objective is to follow a realisation strategy, which aims to crystallise value for shareholders through balancing the timing of returning cash to shareholders with maximisation of value.

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Investment summary

On 21 May, Electra Private Equity (ELTA) announced the board’s intention to demerge Fridays – the largest of the two operating businesses (74% of ELTA’s NAV) – onto the FTSE Main Market and, subsequently, to bring Hotter Shoes (10% of NAV) to AIM through reclassification of the Electra entity. This followed the 15 April announcement about the disposal of Sentinel for £22.2m (58.1p per share), £11.3m higher than the asset’s carrying value on the balance sheet at 30 September 2020. ELTA has been following a realisation strategy since October 2016, when it had a market cap of c £1.7bn, and has since returned c £2bn to shareholders. Since our December 2020 initiation note, the shares have appreciated from a 22% discount to NAV to currently trading at a 7% premium. The share price has almost doubled from 275.5p to 550.5p per share.

Content on Electra Private Equity
Electra Private Equity – The realisation strategy – step by step
Investment companies | Update | 16 April 2021
Electra
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Share price graph
Price performance
%
1m
3m
12m
Actual (1.7) 44.3 197.3
Relative* 0.0 43.8 161.6
52-week high/low 670.0p/170.5p
*% relative to local index
Key management
Gavin Manson Chief financial and operating officer
Neil Johnson Executive Chairman

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