Hg has agreed the sale of F24 a leading European software-as-a-service (SaaS) provider for Business Resilience solutions. The terms of the transaction have not been disclosed and completion is subject to closing conditions.

This transaction values HgT’s investment in F24 at approximately £18.4 million. This would represent an uplift of £0.8 million (4% or 0.2 pence per share) over the carrying value of £17.6 million in the Net Asset Value (“NAV”) of HGT at 31 March 2024.

Note that these figures only relate to HgCapital Trust’s share of Hg’s overall investment in F24.

Based on the 31 March 2024 reported NAV, the pro-forma NAV of the Trust is expected to be £2.3 billion (or 511 pence per share). HgT’s available liquid resources, which includes the undrawn bank facility of £375 million for future deployment (including all announced transactions and the final dividend paid in May) are estimated to be £582 million (25% of the pro-forma 31 March 2024 NAV).

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