Hg announces additional investment into Lyniate

21st January 2022 | Hg Capital Trust PLC

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).

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