Hg announces additional investment into Lyniate

RNS Number : 1600Z

HgCapital Trust PLC

21 January 2022

 

Hg, the Manager of HgCapital Trust plc ("HGT"), today announces an additional investment into Lyniate, a leader in healthcare data interoperability. The terms of the transaction are not disclosed.

HGT, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all Hg's investments.

The transaction will result in HGT investing approximately £8.1 million in Lyniate, alongside other institutional clients of Hg. The transaction represents an uplift on HGT's current investment in Lyniate of £7.5 million (21%) or 1.7 pence per share over the carrying value of £35.4 million in the Net Asset Value ("NAV") of HGT at 30 September 2021.

Note that these figures only relate to HGT's share of Hg's overall investment in Lyniate.

Based on the 30 September 2021 reported NAV, the pro-forma NAV of the Trust is expected to be £1.89 billion (or 416.2 pence per share). HGT's liquid resources available for future deployment (including all announced transactions, and equity raised via tap issuance) are estimated to be £325 million (17% of the 30 September 2021 pro-forma NAV of £1.9 billion).

The investment will reduce HGT's outstanding commitments to invest in Hg transactions to approximately £396 million (21% of the 30 September 2021 pro-forma NAV).

For further details:

Hg

Tom Eckersley   [phone]

HgCapital Trust

Laura Dixon  [phone]

Brunswick

Samantha Chiene  [phone]

[e-mail]

About Lyniate
Lyniate is building connections for a healthier world. Over 1300 healthcare organizations around the globe rely on Lyniate interoperability solutions to connect people through increased access to data. As a trusted partner, Lyniate powers the applications and workflows that improve clinical, operational, and financial outcomes today while helping healthcare teams to understand, prepare for, and influence changes on the horizon. Lyniate is committed to healthcare, from specialty clinics to large networks, from payers to vendors, and everything in between. Visit http://www.lyniate.com to connect.

About HgCapital Trust plc
HgCapital Trust plc, whose shares are listed on the London Stock Exchange (ticker: HGT.L), gives investors exposure through a liquid vehicle to a portfolio of high-growth private companies in the software and services sector. The selection of new investments and creation of value in these businesses are managed by Hg, an experienced and well-resourced private equity firm with a long-term track record of delivering superior risk-adjusted returns for its investors. For further details, please see www.hgcapitaltrust.com.

The contents of the Hg, HgCapital Trust and Lyniate's websites are not incorporated into, and do not form part of, this announcement.

 

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