British Smaller Companies VCT has sold its investment in GO Outdoors Topco Limited to JD Sports Fashion.
This will generate cash proceeds of £14.1 million and a realised capital profit of £13.9 million. The impact of the transaction is an uplift of £3.4 million to the unaudited net asset value reported at 30 June 2016 equivalent to 3.5 pence per ordinary share.
The company initially invested in GO Outdoors in 1998. Including the previous sale in 2011 the investment generated a total return of £23.1 million, a multiple of 37x the original investment, equivalent to an IRR of 32.3%.