Investment company EPE Special Opportunities says that it will receive £2.4m from the administration of retailer Past Times.
The investment in Past Times EPE’s £3m working capital finance guarantee to Lloyds has been removed. EPE lost around two-fifths of its initial investment in Past Times.
The other companies in EPE’s investment portfolio have generally done well in the year to January 2012. Process Components and marketing services firm Indicia are both doing better than expectations. Exposure to the retail sector has been reduced to 16% of the portfolio, but even tea retailer Whittard of Chelsea has grown like-for-like revenues.
At 46p a share, up 1p, EPE is valued at £14.1m. The net asset value of EPE is 81.62p a share.
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