OCI is not subject to the UK City Code on Takeover and Mergers.
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This webpage and its contents are made available on an “as is” and “as available” basis. OCI uses reasonable efforts to ensure that the information on this webpage is accurate, but OCI and its personnel and agents disclaim and exclude (to the fullest extent permitted by law) all warranties, representations or guarantees (whether express, implied or statutory) that the information is complete, accurate, up-to-date or suitable for a particular purpose. All documents have their own shelf life and may be included on this webpage for historical reference purposes only. Any opinions, recommendations and forecasts provided are not necessarily the current opinions, recommendations and forecasts of OCI or any contributors and may be changed at any time. Actual outcomes or results may differ materially from those expressed or implied by any forecast. You agree that access to, and reliance on, this webpage and any information contained on it is entirely at your own risk.
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As expected, OCI’s 28 July trading statement was positive. The NAV grew from 403p at end-2020 to 445p at end-June 2021, a total return NAV of 11% on end- 2020 and 26% on 1H’20. We have raised our year-end forecast from 433p to 470p. OCI invested £95m – mainly through Fund IV (idealista, Dexters and ICP Education) and through the Origin Fund (ECOMMERCE ONE). Sale proceeds were £51m, cash was £172m (21% NAV), and outstanding commitments were £438m. Post 30 June, Fund III sold its ACE Education investment, and Origin re-invested in it. More details will be given with the interim results on 9 September.
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