Dunedin Enterprise Investment Trust PLC has received regulatory approval for the realisation of Premier Hytemp, a manufacturer and supplier of engineered metal solutions. The investment in Premier Hytemp is held through Dunedin Buyout Fund II LP. As of September 30, 2023, the Company's investment in Premier Hytemp was valued at £4.9m. The proceeds from the transaction amount to £4.9m, consisting entirely of capital. Following this realisation, the Company has remaining unlisted investments valued at £7.8m, cash balances of £23.3m, and other net assets of £2.9m. The Company also has outstanding capital commitments to limited partnership funds of £9.0m.
The Company's investment objective is to conduct an orderly realisation of its assets in a manner that seeks to achieve a balance between maximizing the value of the Company's investments and progressively returning cash to shareholders. The Board is considering the most efficient way to return further cash to shareholders, taking into account the size of the Company, the value of its remaining unlisted investments, and the Company's costs. The Board and its advisers are exploring the possibility of winding up the Company and returning cash to shareholders, including the proceeds of the Premier Hytemp realisation, through a members' voluntary liquidation. Any such winding-up would require shareholder approval.