23 November 2007
Part Disposal of FTSE Option
ANNOUNCEMENT TO STOCK EXCHANGE
GRAPHITE ENTERPRISE TRUST PLC
23 NOVEMBER 2007
PART DISPOSAL OF FTSE OPTION
Graphite Enterprise Trust PLC (the “Company”) announces that it has today sold a further 25% of the FTSE 100 call option (“the Option”) which was acquired in October 2005. A total of half of the option has now been sold.
The proceeds of the disposal were £7.6 million. Total cash proceeds to date are £17.3 million representing 123% of the cost of the Option of £14.0 million. The value of the Option immediately after the disposal was £15.2 million and it provided continuing exposure to the Index of approximately £70 million.
For further information please contact:
William Eccles 020 7825 5300
Tim Spence 020 7825 5300