07:00 Tue 22 Dec 2020
Duke Royalty Limited - Exit of Investment in Royalty Partner
Duke Royalty Limited
("Duke Royalty", "Duke" or the "Company")
Duke Royalty Limited Successful Exit of Investment in Royalty Partner
Duke Royalty Limited (AIM: DUKE), a provider of alternative capital solutions to a diversified range of profitable and long-established businesses in
Highlights:
· Duke received net cash of
· Welltel represented the largest investment in Duke's portfolio with a last-audited fair value of
· Following its initial investment in
· Due to the minimally dilutive features of Duke's offering, Welltel's shareholders have retained majority ownership and control throughout Duke's period of investment, allowing significant value creation for their shareholders
· The transaction represents Duke Royalty's second exit after the recent realisation of Xtremepush in
· Proceeds from this exit will leave Duke in a positive net cash position, thereby providing significant liquidity of over
"Duke's flexible, long term capital has been key to facilitating Welltel's ambitious strategy during the past three years, and we're proud to have supported them during a period of significant growth. Our role in financing five separate M&A transactions since 2017 demonstrates the close working relationship that we have with
"Duke Royalty received proceeds which were
"We would like to thank Duke Royalty for its financial support during a period of rapid expansion in Welltel's business. Duke's rapid turnaround time was instrumental in enabling Welltel to execute several M&A transactions in a short period of time and to allow us to make the most of attractive M&A opportunities in the Irish telecoms market.
"Duke's long dated capital allowed us to grow by acquisition without the fear and distraction of having to refinance our loans at a time of high growth and value creation in our business. We very much enjoyed the partnership with Duke and wish them well in the future."
***ENDS***
For further information, please visit www.dukeroyalty.com or contact:
Duke Royalty Limited |
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+44 (0) 1481 741 240 |
Cenkos Securities plc (Nominated Adviser and Joint Broker)
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+44 (0) 207 397 8900
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Canaccord Genuity (Joint Broker)
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+44 (0) 207 523 8000 |
Newgate Communications (PR) |
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+ +44 (0) 20 3757 6880 dukeroyalty@newgatecomms.com
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About Duke Royalty
Duke Royalty Limited provides alternative capital solutions to a diversified range of profitable and long-established businesses in
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