Disposal of cinema investments

Disposal of cinema investments

Albion Ventures
FOR IMMEDIATE RELEASE
6 December 2012

Albion Development VCT PLC

Disposal of cinema investments

The Board is pleased to announce the successful sale of its five cinema investments, realising net proceeds of £2,060,000, compared to book value of £1,838,000 at 30 September 2012, adjusted for loan stock repaid subsequent to that date, and cost of £1,211,000.

The five cinema investments comprised City Screen (Liverpool) Limited, CS (Greenwich) Limited, CS (Brixton) Limited, CS (Exeter) Limited and CS (Norwich) Limited and were sold today as part of the sale of the City Screen group to Cineworld Group plc.

As a result of the sale, Albion Development VCT PLC has, since its original investment in 2002, received a return of approximately 2.3x its investment including loan stock interest and other income and loan stock repayments received.

ENDS
For further enquiries, please contact:

Henry Stanford
Partner, Albion Ventures LLP
020 7601 1850




This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Albion Development VCT PLC - Ordinary Shares via Thomson Reuters ONE

HUG#1663179
UK 100

Latest directors dealings