Electra confirms NAV after significant realisations

Electra Private Equity said its pro forma net asset value at the start of June was £769m after the 914p dividend it declared last week.

The latest NAV comprises net cash balances of £386m and investments of £383m, reflecting the significant realisations made since 31 March.

Electra'a largest investments are TGI Fridays, at £103.1m NAV or 269p per share, and Photobox, at £100m or 261p per share.

Hotter Shoes and Knight Square are its other principal investments at 95p and 59p per share, while the balance sheet notably includes 159p per share from funds, 114p in debt and 2,022p per share in cash.

Electra confirmed it is beginning the second phase of its strategic review, which will be announced in the fourth quarter of 2017.